MMM Founder Writes Buhari: “If Ponzi Scheme Collapses, 3 Million Nigerians Will Suffer”

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MMM Founder Writes Buhari: “If Ponzi Scheme Collapses, 3 Million Nigerians Will Suffer”

The founder of controversial Ponzi scheme company (MMM), Sergey Mavrodi, has allegedly written an open letter to the Federal Government of Nigeria to justify the importance of the scheme.

READ ALSO: Access Bank Warns Its Customers Against Patronising MMM

The News Agency of Nigeria (NAN) reports that the letter was displayed on the page of all participants of the scheme.

In the letter, Mr Mavrodi implored the government to look at the benefits of the scheme rather than be against it without knowing how it was helping Nigerians, Vanguard reports.

READ ALSO: Ultimate Cycler: Panic Grips Nigerians In MMM As Another Ponzi Scheme Website Crashes

He insisted that if the government was really interested in the welfare of the Nigerian participant, then the scheme should be left alone arguing that MMM was helping the over 3 million Nigerian participants.

READ ALSO: ‘MMM Is A Fraud, Don’t Patronize It’ – CBN Warns Nigerians

Mavrodi warned the federal government that if the ponzi scheme collapses, over 3 million Nigerians will suffer, noting that “MMM is their only means of livelihood”.

The letter was displayed on the page of all participants. Here’s a copy of the letter obtained from the Dashboard of one of the participants.

Open Letter from Sergey Mavrodi to the Nigerian Authorities

Honorable authorities,

So far MMM has come under a constant attack from you. In this regard, I would like to ask you a few simple questions. Since you are concerned with the interests of millions of your fellow citizens, I hope that you would be so kind to answer them. What are you trying to get?

Do you want the MMM System to collapse and millions of people to suffer? Who will support them then if now MMM is their only means of livelihood? Will you? You even don’t pay wages to people? Or might you not care about them? Might you be using a trendy topic to make a good name for yourselves?

What will you say to a mother who will have no money to buy food for her child? Will you let her child die for the sake of the higher interests of the economy? You say that MMM is a scam. What is the scam here, if all members are warned in advance about all the risks, the possible and impossible ones?

They know there are no investments at all. The warning is a red text on a yellow background placed on most prominent place of the website. You say that MMM is bad. Why? Yes, it produces nothing, but nothing gets out of the country either.

The money is just redistributed among the citizens of Nigeria. It gets from those who are richer to poorer ones, in this way restoring social justice. What”s wrong with that? You have repeatedly stated that “it should be investigated!.. researched!..”

It means you know nothing about this System yet; you even haven’t understood how it works……… And finally. If you know what is right for people, why is the life so bad in the country?

Sincerely yours,

Sergey Mavrodi

P.S. As for your statement that “everything will collapse soon”. The system has been working in Nigeria for a year, and according to your estimates, the total number of members now is about 3 million people. In Nigeria the population is approximately 195 million. Can you calculate? Will it be “soon”?

The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) had previously warned Nigerians against participating in the scheme while the house of representatives also ordered an investigation into the operation of the scheme, in October.

Datboyjerry

Datboyjerry

I am but your herald boy in the art of the pen.. An eccentric Environmental Biologist smouldered in the glorious epiphany of online journalism. If you ever find my article unduly insipid, sue me and i’ll refund you...

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