Popular yet controversial money-doubling scheme, the Ponzi scheme Mavordi Mondial Movement (MMM), has called on its participants whose accounts were frozen to begin online publicity for the scheme ahead of its resumption date.
Ahead of the restart of the Ponzi scheme on 14 January, promoters have issued instructions to its participants whose accounts were frozen, to perform “Promo Tasks: A New Tool for MMM Community Development.”
MMM, in a message to subscribers, said the tasks, which should be done both online and offline, is expected to promote the scheme and drive “traffic and participation” by the time the handlers lift the freeze on January 13, 2017.
“Being an MMM member implies not only opportunities, but also a responsibility for the state and development of the MMM Community”, the message read.
The information raises hopes of the almost three million Nigerians who invested in the scheme, following the ban on withdrawals on December 3, 2016.
MMM was a Russian company that perpetrated one of the world’s largest Ponzi schemes of all time, in the 1990s.
By different estimates from five to 40 million people lost up to $10 billion. The exact figures are not known even to the founders.
The anti-graft EFCC and the Central Bank have warned Nigerians against MMM and other Ponzi schemes, saying they were fraudulent.
The scheme was banned in some African countries but has spread to Ghana and Kenya.