Many Nigerians find themselves in a state of distress as the notorious money doubling scheme, MMM, resurfaces in the Nigerian market, this time under the moniker MMM Krypto.
During its earlier incarnation in 2016 and 2017, the widely popular yet controversial money-doubling scheme lured in participants, with the Nigerian Deposit Insurance Corporation (NDIC) later reporting that a staggering three million Nigerians incurred losses totaling 18 billion Naira due to their involvement with MMM.
The aftermath of this financial debacle left numerous victims in dire straits. Among them was Ada Kole, a participant in the scheme, who tragically took his own life after losing 750,000 Naira to MMM just before his scheduled wedding.
The Mavrodi Mondial Moneybox (MMM) faced its demise in 2018 following the death of its founder, Henry Mavrodi, who succumbed to a heart attack.
Despite its previous notoriety and subsequent closure, MMM is attempting a resurgence as MMM Krypto. A recent meeting on December 2, 2023, in Durban, South Africa, signals the organization's persistent efforts to regain a foothold in the market.
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@Dajibawo1 expressed empathy: “Just pity the many that would fall victim out of greed.”
@DCO_Danny raised a pertinent question: “Why do they always come back towards the end of the year (Christmas period)?”
@Phelyx_mukah demanded restitution: “As e don come back. Make them give me the one wey I put for there the last time first.”
@Uyanwunechuks invoked a proverb: “They said 'affliction shall never rise the second time.' I hope I got the quote correctly.”
@D_lone_wolf expressed skepticism: “These people want to finish what they’ve started. Even the original owner of MMM is dead. 🤦♂️”