DECEMBER 2, 2016 – MMM Nigeria is a ticking time bomb as investigation has revealed the real owner of the scheme and wait for it! He is a Nigerian, according to Pageone.
He is Ernest Mbanefo, a Nigerian pastor, based in South Africa. He reportedly registered the site MMM-Nigeria.net domain on domain on June 7, 2016 about at about 5 pm Nigerian time.
According to Pageone, Mbanefo, did a single year domain payment which means the domain will expire on June 7, 2017.
Also, MMM Nigeria is not part of MMM Global – a Russian company that was responsible for one of the world’s largest Ponzi schemes in the 1990s.
MMM Global was founded by Russian politician Sergei Mavrodi, his brother Vyacheslav Mavrodi and Olga Melnikova.
The name of the company was taken from the first letters of the three founders’ surnames (MMM)
But like MMM Global, the Nigerian scheme is also a pyramid marketing scheme where an investor gets a 30 per cent return on investment.
Around the world, MMM is feared.
In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered.
MMM Recently Crashed in Zimbabwe: Thousands of ‘Mavrodians’ in Zimbabwe were left in tears when the scheme crashed, losing tens of thousands of their lifetime savings.