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.
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 people stranded”.
MMM Nigeria had 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.