There is panic and loss of confidence on MMM Nigeria by members of the ponzi scheme over a freeze on all money in the system. The much adored MMM this morning dropped a shocker on members with a notice that there will no longer be money flowing from now till January 2017.
FINANCIAL WATCH in October published a report of a pause mode to be activated in December, but was waved off by MMM faithfuls as one of the media propaganda. As usual our warning report was attacked as fake news as a reader dropped a comment saying:
All is not well in the MMM Nigeria community with the news of a pause mode, according to comments gotten from members of the ponzi scheme, “the yuletide period is a time money is seriously needed to meet up with festive demand, but MMM have decided to keep us stranded”.
Sheddyblaze said: “What is happening, this is not d mmm we use to know,with the recent changes it causing more harm than good, I thought its a forum of mutual understanding not knowing there are deciders, am very sorry to say is their prophecy not actually coming to pass? How can the admin just decided to freeze our money ? So is now a must to help? Some of us are beginners and creating this kind of panic won’t help,d admin should go back and revise his/her decision cause when we PH there was no freezing not to so there shouldn’t be any freezing during getting helped please. If people don’t GH do u expect me to PH? Never , that’s what we are saying.”
Isitor: “One month freezing of confirmed mavro. Does that mean one’s money on confirmation will stay again for one month. Or that one’s money is only withdraw-able by one month.?
Lexluthor: “The frenzy they are trying to prevent will eventually happen if and when they defrost the mavros. Every participant with money in the system will hit the GH button as fast as lightning.. And with this news, the larger society intending to PH will take a chill pill.. So when there’s no PH, how do you GH? The site says use your spare money, yet encourages us to keep PH at an optimal level this period. If the said spare money has been frozen, are we expected to PH with new “not spare” money? Where’s the sense in the decision mbok? IMHO, It would’ve been better if they froze the 30% increase and release the capital sum, that way the looming panic will be contained..”
Victoria: “This is really scaring o, I’m suppose to GH today and also PH. I hope I get paid o and to even PH now, I’m really afraid”.
MMM Nigeria have faced much criticism from experts, and some are saying the scheme will crash December 14th, others have July 2017 as the crash date. But one thing is certain here, with this move to trap members money, we may very well start seeing the beginning of the end of MMM Ponzi scheme.
This is happening coincidentally at a time the second largest Ponzi Scheme in Nigeria Ultimate Cycler website crashed since December 2nd, although Peter Walfing the founder gave Sunday 11th December as the relaunch date but as of the time of this report ultimatecycler.com is still down.
These travails does not come as a surprise to the Nigerian media, government agencies and the larger Nigerian audience as the warnings from CBN, SEC and NDIC on dangers of investing on ponzi schemes have all fell on deaf ears.