[Mhiz Rebecca]

On Monday, Nigerians who are part of the ponzi scheme, Mavrodi
Mondial Moneybox, otherwise known as ‘MMM’, got news that their
funds had been ‘frozen’.
It comes only few days after the Senate warned the whole scheme
would burst.
MMM’s management explained that the freeze will last only one
month and advised Nigerians to remain calm.
Part of the statement reads: “As usual, in the New Year season the
System is experiencing heavy workload.
“Moreover, it has to deal with the constant frenzy provoked by the
authorities in the mass media.
“The things are still going well; the participants feel calm; everyone
gets paid – as you can see, there haven’t been any payment delays
or other problems yet – but!.. It is better to avoid taking risk.
(Moreover, there are almost three weeks left to the New Year.)
“Hence, on the basis of the above mentioned, from now on all
confirmed Mavro will be frozen for a month.
“The reason for this measure is evident. We need to prevent any
problems during the New Year season, and then, when everything
calms down, this measure will be cancelled. (Which we will definitely
do).
However, this might be the first step to the pyramid tumbling down.
Earlier this year, South Africans who take part in MMM, had their
accounts frozen and up till now, it has remained that way.
Anonymous leaders of the South African wing, blamed “media panic”
for the reboot on April 30.
MMM SA told members: “We have to declare a restart and start all
over again. We have no choice.”
Journalist and socio-political commentator, Cheta Nwanze, also feels
that the Nigerian wing will go that route.
He wrote on his Facebook page: “MMM has crashed, let’s not beat
about the bush on that. Turning it into banter at this time, is ill-
advised, and shows a distinct lack of empathy.
He also added that, “as long as you are required to bring your
child’s blood in order to secure a loan at an unreasonably high
interest, then Nigeria will remain fertile ground for any ponzi. MMM
will go, QQQ will replace it next year, and people will still get
involved. Because for them, the risks are worth it.”
MMM was founded by former Russian politician, Sergey Mavrodi,
who went on the run when the original MMM collapsed in the late
1990s, with investors losing an estimated $100m.