The meteoric rise of one of the world's largest Ponzi schemes in Nigeria
[b]In spite of the government's warnings against it, many Nigerians continue to invest in Mavrodi Mundial Movement (MMM), a Russian company that was responsible for one of the world's largest Ponzi schemes of all time.
On 13 December, the company said it was 'freezing' all confirmed accounts. While many that are opposed to the scheme believe the suspension may be an indication of an imminent collapse, MMM Nigeria assured its members it was only freezing the system for a period of one month.
"The reason for this measure is evident. We need to prevent problems during the New Year season, and then, when everything calms down, this measure will be canceled," the administrator said in a message sent to all members.
In spite of the indication that things may not be in order with MMM, Ifeanyi Okoro and some other members remain confident in the scheme.
