The popular yet controversial Ponzi scheme, Mavrodi Mondial Movement (MMM), has announced its presence in Kenya barely 48 hours after leaving over 3 million Nigerians in panic mode.
The Ponzi scheme is promising participants of the East African country a profit of 40% for every investment.
This is higher than the 30% benefit it offered its investors in Nigeria and South Africa.
The website http://kenya-mmm.net/, carried the following announcement:
“YES, IT IS POSSIBLE TO EARN 40% PER MONTH HERE, BUT THIS IS NOT A HYIP!
“This is a community of ordinary people, selflessly helping each other, a kind of the Global Fund of mutual aid. This is the first sprout of something new in modern soulless and ruthless world of greed and hard cash. The goal here is not the money. The goal is to destroy the world’s unjust financial system. Financial Apocalypse! Before you join, be sure to get acquainted with our IDEOLOGY!”
Before it arrived Nigeria with its money-doubling message, MMM had plied its trade in other African countries like South Africa and Zimbabwe.
Earlier this year, South Africans, who took part in MMM, had their accounts frozen and up till now, it has remained that way.
While several Nigerians are skeptical about the continuation of the scheme, others are basking in the aura of optimism as they look forward to January 2017.
It would be recalled, in a letter issued to participants on the suspension of withdrawals, MMM said it took the measure to prevent any problem in the New Year – a similar excuse it said in South Africa before the scheme crashed.
“The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled. (Which we will definitely do. We hope for your understanding, administration,” it had said.
MMM was founded by former Russian politician, Sergey Mavrodi, who went on the run when the original MMM collapsed in the late 1990s, with investors losing an estimated $100m.