MMM Ponzi scheme trending in Nigeria, says Google

MMM Ponzi scheme trending in Nigeria, says Google

Friday, September 30, 2016 2:16 pm


 Not a pyramid: MMM’s website describes the scheme as a circular system where members ‘give help by transferring the money to each other directly’ (Screengrab)


Not a pyramid: MMM’s website describes the scheme as a circular system where members ‘give help by transferring the money to each other directly’ (Screengrab)

 

A get-rich-quick business that left thousands of Zimbabweans in financial dilemma dominated timelines, blogs and news sites in the week of Sept. 21 to Sept. 28, according to Google Trends.

Mr Taiwo Kola-Ogunlade, Google’s Communications and Public Affairs Manager for Anglophone West Africa, made the disclosure in Lagos on Friday.

He said that information about the suspicious online financial scheme had relevance for Nigerians.

Kola-Ogunlade said that many Zimbabweans were obviously wishing they could turn back the hand of the clock after losing their money on a popular online pyramid Ponzi scheme.

He said the information was particularly relevant to Nigeria as the scheme had already surfaced in the country and was receiving good attention.

“The Mavrodi Mondial Moneybox (MMM) Global Zimbabwe is a scheme that advertises itself as a mutual aid fund with a promised monthly investment returns of 30 per cent.

“Under the scheme, members contribute money to assist others. However, it is a network that relies on growing numbers of new members to pay off the old.

“It is linked to a fraudulent history that goes as far back as 1989.

“This scheme is currently in Nigeria and it is called MMM Federal Republic of Nigeria. The business has started to receive attention from Nigerians.

“On another day, there was another hoax in which some pranksters decided that the best way to honour number one Nigerian billionaire and Africa’s richest man in 2015 was to declare him dead.’’

Kola-Ogunlade said that the news of the billionaire Dangote dying in Germany after a short illness went viral on social media and was followed by emotions, including shock and surprise.

“But hey! Dangote had this to say via Twitter, ‘I am hale, hearty and alive’, Kola-Ogunlade added.

“People’s attention online was also captured by Google coming officially of age in some countries of course (and without rite of passage).

“Now that Google is 18, it can vote, buy alcohol, cigarettes and do other grown-up stuff.

“Google celebrated its ‘maturity’ on Sept. 27 with a special doodle displayed on its homepage around the world.

“Although Google’s birthday has been marked on Sept. 27 for the past 10 years, it has not always been so, as history has it that Google.com was registered on Sept. 15, 1997 and incorporated on Sept. 4, 1998.

“Furthermore, Google celebrated 2003 on Sept. 8; 2004 on Sept. 7; and 2005 on Sept. 26,’’ the Google spokesman explained.

He said that the Mexican Peso reacted with a rise, in what would be the first in a series of presidential debates between U.S. presidential candidates Hilary Clinton and Donald Trump.

“Anxious viewers watched a demonstration of raw energy as the candidates argued over race, terrorism and jobs.

“The debate was also a battle of emotional constraint, which saw Clinton wearing calm to force Trump into a defensive while the internet has been agog with who won the debate,’’ Kola-Ogunlade said.

The Google manager said that passion moved Okiemute Ighorodje, former band lead singer and model, who had gone on to win N5 million and a brand new SUV in MTN Project Fame Season 9.

“The 25-year-old graduate, with her contagious smile, emerged as a winner in the event, after an eight-week musical competition between commendable contestants.

“Elizabeth emerged first runner-up, while Kitay was the second runner-up, each taking home a saloon car with N3 million and N2 million, respectively.”

Kola-Ogunlade said that a much-loved series premier, Empire Season 3 was backed with fans (and perhaps the cast) already anxious for the next episodes.

“Picking off where Season 2 left off, the cliffhanger scene between Rhonda and Anika — fans who were eager to know who fell off the building discover it is Rhonda.

“But will that mean fans will not get to see her character anymore?

“Another highlight Empire fans can look forward to is ‘Kitty’, a mega-superstar played by guest star, Mariah Carey, who is close friends with Cookie Lyon in the series,” the Google manager stated.

The News Agency of Nigeria (NAN) reports that Google Trends, launched in May 2006 allows one to see how popular search terms and their demography have been over time on the search engine. (NAN)


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6 Comments

  • Oliver John says:

    My name is Blossom, I am an ordinary Participant of MMM. On the 25th of September 2016 i provided help of N2,100,000 and on the 4th day of October 2016 i provided help of N1,000,000 and 20th of October 2016 i got help of N3, 834,000 including referal bonus I am so happy
    happy. able to find a good source kind contact Mr john on 08116241254 or email [email protected].
    My name is Blossom, I am an ordinary Participant of MMM. On the 25th of September 2016 i provided help of N2,100,000 and on the 4th day of October 2016 i provided help of N1,000,000 and 20th of October 2016 i got help of N3, 834,000 including referal bonus I am so happy
    happy. able to find a good source kind contact Mr john on 08116241254 or email [email protected].

  • rotimi says:

    you can as well call the person’s guider …the mobile number of both the person you are to provide help to and his /her guider is always stated clearly on your PO.

  • olababa says:

    wait when the time finishes and it will turn yellow then go to support and tell them click on the you payed but you have not been confirmed write to support..support will do the rest….

  • Amby says:

    ThankYou brov. Am a proud mavrodian. But I need a little avice here,Since you are a guider I think u might have an answer to my que. I was match with someone, so I trie calling the person before I proceed with the payment like I always do but the line couldn’t get through. I kept on trying till the time remains like hrs. So I didn’t have a choice, I proceeded with the payment. And ever since then it’s more than 12hrs now the person line not still goint through and hasn’t call me either to confirm the payment. What’s should I do please. Coz I need my payment to be comfire so I can also GetHelp. Thanks.

  • Allets says:

    I just want one thing to be clear to me before i go on to comment on the Nigeria mmm issue. When did mmm in Zimbabwe and South African start?, how long did it last before the purported crash, Did it just last less than a year and crash?

  • olababa says:

    …..
    Now just so you people know, we Nigerians are fond of joining what we know nothing about.
    Yes
    before I ventured into mmm about a year plus ago ( I joined under mmm
    South Africa July last year and was moved to mmm Nigeria when it came
    here November last year) I took my time to read through the mmm page
    before I even attended mmm guiders school. I read all I could find in
    the website.
    I know it was stated that there is no guarantee so before I recruit anyone I would plainly explain all I can about mmm.
    In
    mmm you are not investing you are purely donating as mmm don’t have any
    central office, all the system does is calculate interest, keep records
    and match/pair members to pay one another.
    You are purely adviced
    to participate with your spare money(money you can afford to loose),
    don’t go and take a loan from any bank, borrow from family and friends
    to donate in mmm, so even if anything happen tomorrow you wouldn’t say
    mmm scammed you.
    And another thing is this mmm is stricter in such a
    way that even if there is an issue old mavro/balance will be frozen and
    the system will be restarted and once the system balances old
    balance/mavro will be paid with time.
    So fellow Nigerians let’s take
    our time to learn and also understand that there is nothing to loose
    joining this program if you follow the rules and it terms.
    Don’t let greed becloud your mind, I donated a million 30days back cause I can afford to loose it.
    All business, even life itself is a risk, the more we learn to give without expectation the more we gain.
    For
    fellow mavrodians reading this I will urge everyone to recruit with our
    ideology, always know that mmm is not meant for everyone, but only a
    few who understands make it.
    Long live mmm global.
    Long live mmm Nigeria.
    35 Likes 2 Shares

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