Thursday, August 3, 2017

SCAM ALERT: MMM stages comeback, launches weekly promo

The money making scam, Mavrodi Mundial Moneybox , that collapsed months ago , has launched a weekly promotional stunt, obviously aimed at wooing old and unsuspecting new ‘investors ’.

A letter displayed on the pages of participants of the scheme urges them to invite new members . Members must invite new participants and register them as referrals to qualify for the contest .

They have the opportunity to win cash prizes between N 30 , 000 and N 500 , 000 , under an exercise the Ponzi scheme masterminds call, “Promo - Task Contest ’
The letter reads in part: “MMM Nigeria launches Promo - Task Contest .

“MMM Nigeria launches the first Promo - Task Contest – which a relevant section has been created for the contest in the Personal Office .
“Winners are selected based on the number of points received for completing promo - tasks . Whoever receives the biggest number of points becomes the winner.

“The contest period is from Monday to Sunday while at the end of each week ; winners are announced and awarded Mavros (cash prizes ) available for output.

“In the first contest, there are 50 prizes . First place will win N 500 ,000 ; second place N 300 , 000 and third place winner will take home N 200 ,000 .
“Fourth place to 10 th place winner get N 100 ,000 each; 11 th to 30 th place wins N 50 , 000 each while participants who placed 31 st to 50 th win N 30 , 000 each.

“Members can complete both online and offline tasks with focus to promoting the community and contribute to the growth of the scheme .

“The promo - task contest is a serious tool aimed at community growth , and as such , would be continuously adjusted and refined to enable MMM Nigeria to overcome . ”

The Securities and Exchange Commission and the Central bank of Nigeria have warned Nigerians against participating in the scheme which they described as a “ Ponzi ” scheme .

The scheme has been mired in controversies after it placed a one - month freeze on all withdrawals from the scheme on Dec . 13 , 2016.

The scheme , however , made a comeback on Jan. 13 and quickly placed a limit to the number of withdrawals from old - confirmed mavros (money ), drawing wild condemnation from members and making many of them walk away .

(NAN )

1 comment:

  1. This post is terrible. You could have done a review of the scheme rather than outrightly condemning it.







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