Nigerians weeps as MMM announces a “restart”.

<div class="td-post-featured-image" style="background-color: white; box-sizing: border-box; color: #444444; font-family: Verdana, Geneva, sans-serif; font-size: 12px; width: 681px;"> <img alt="" class="entry-thumb td-animation-stack-type0-1" height="289" sizes="(max-width: 587px) 100vw, 587px" src="https://i1.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n-1.jpg?resize=587%2C289" srcset="https://i1.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n-1.jpg?w=587 587w, https://i1.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n-1.jpg?resize=300%2C148 300w" style="border: 0px; box-sizing: border-box; display: block; height: auto; left: -1px; margin-bottom: 7px; margin-left: auto; margin-right: auto; max-width: 100%; position: relative; z-index: 2;" title="23227066_1487919364617209_1788990651_n" width="587" /></div> <div class="td-post-content td-pb-padding-side" style="background-color: white; border-top: 0px; box-sizing: border-box; color: #444444; font-family: Verdana, Geneva, sans-serif; font-size: 14px; line-height: 24px; padding: 10px 19px 0px 20px;"> <div class="td-g-rec td-g-rec-id-content_top td_uid_3_59fe45f0c2ca0_rand td_block_template_1" style="box-sizing: border-box; clear: both; margin-bottom: 15px; margin-top: 21px; text-align: center;"> </div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> It has been revealed that popular ponzi scheme MMM has officially announced a <em style="box-sizing: border-box;">“RESTART”</em> of the system, leaving many Nigerian participants wailing with thousands and millions on Naira trapped in the scheme.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> In a message posted on the home page of participants Saturday morning, the scheme said that it had struggled to stay afloat after going on a break in Dec. 2016 but had been forced to do a system restart.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> Many of the participants who commented in various MMM Whatsapp groups recounted sadly how they and family members had lost millions to the scheme.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> MMM is a ponzi scheme which gained popularity in Nigeria in 2016. It promised to pay participants 30 per cent return on investment every 30 days.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> Despite various warnings by the Federal Government and its financial regulators, many Nigerians adamantly went on to participate in MMM.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> Recall that in 2016, the Federal Government, through the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) warned Nigerians against putting their money in the scheme.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> In December 2016, the scheme went on “Pause Mode”, freezing the funds of participants and allegedly bolted with N18 billion but promised to resume payments by January 2017.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> MMM kept its promise by resuming in January but it had new rules: 2016 money was to be paid back in percentages of new money “invested”.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> This also did not stand the test of time and by July 2017, the scheme went on a semi pause mode when it could not pay withdrawal requests.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <img alt="" class="aligncenter size-full wp-image-228316 td-animation-stack-type0-1" data-attachment-id="228316" data-comments-opened="1" data-image-description="" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="MMM-1-560×390" data-large-file="https://i0.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/MMM-1-560x390.jpg?fit=560%2C327" data-medium-file="https://i0.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/MMM-1-560x390.jpg?fit=300%2C175" data-orig-file="https://i0.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/MMM-1-560x390.jpg?fit=560%2C327" data-orig-size="560,327" data-permalink="http://www.yabaleftonline.ng/nigerians-weeps-mmm-announces-restart/mmm-1-560x390/" height="390" sizes="(max-width: 560px) 100vw, 560px" src="https://i0.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/MMM-1-560x390.jpg?resize=560%2C327" srcset="https://i0.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/MMM-1-560x390.jpg?resize=560%2C390 560w, https://i0.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/MMM-1-560x390.jpg?resize=300%2C175 300w" style="border: 0px; box-sizing: border-box; clear: both; display: block; height: auto; margin: 6px auto 21px; max-width: 100%; text-align: center;" width="560" /></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> While those who lost their money in June/July continued to wait and lament, the ponzi scheme, in a frantic effort to stay afloat, commenced payment of those who “invested” their money in August, promising to backdate the payment to cover those whose money were still pending from June and July.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> It even introduced 100 per cent return on investment to encourage more Nigerians to participate in August.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> Apparently unable to meet its promises to pay back June/July pledges and faced with more challenges, the ponzi scheme on Saturday announced that it was going on restart, blaming the Nigerian government and the media for its woes which started in 2016.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> Read the full text of the message:</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <img alt="" class="aligncenter size-full wp-image-228317 td-animation-stack-type0-1" data-attachment-id="228317" data-comments-opened="1" data-image-description="" data-image-meta="{"aperture":"0","credit":"","camera":"","caption":"","created_timestamp":"0","copyright":"","focal_length":"0","iso":"0","shutter_speed":"0","title":"","orientation":"0"}" data-image-title="23227066_1487919364617209_1788990651_n" data-large-file="https://i2.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n.jpg?fit=640%2C358" data-medium-file="https://i2.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n.jpg?fit=300%2C168" data-orig-file="https://i2.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n.jpg?fit=901%2C504" data-orig-size="901,504" data-permalink="http://www.yabaleftonline.ng/nigerians-weeps-mmm-announces-restart/23227066_1487919364617209_1788990651_n/" height="358" sizes="(max-width: 640px) 100vw, 640px" src="https://i2.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n.jpg?resize=640%2C358" srcset="https://i2.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n.jpg?w=901 901w, https://i2.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n.jpg?resize=300%2C168 300w, https://i2.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n.jpg?resize=768%2C430 768w, https://i2.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n.jpg?resize=751%2C420 751w, https://i2.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n.jpg?resize=640%2C358 640w, https://i2.wp.com/www.yabaleftonline.ng/wp-content/uploads/2017/11/23227066_1487919364617209_1788990651_n.jpg?resize=681%2C381 681w" style="border: 0px; box-sizing: border-box; clear: both; display: block; height: auto; margin: 6px auto 21px; max-width: 100%; text-align: center;" width="640" /></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">RESTART</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">Unfortunately, we were unable to overcome the consequences of the crisis triggered by the authorities and mass media incautious actions at the beginning of this year. Despite all our efforts. The problems have been accumulating and, as a result, we have to announce a restart.</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">So, there is a restart:</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">All old Mavros (acquired before this announcement is posted) are frozen. We will gradually buy them back as the System develops.</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">All transactions with new Mavros (acquired after this announcement is posted) will be carried out on the usual terms with no restrictions.</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">Some amendments have been made to the rules:</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">Mavros will now start growing at the moment the request is confirmed (not at the moment it is created, as it was previously).</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">Consequently, bonuses will start growing at the moment when the main contribution is confirmed (upon which bonuses have been rewarded on).</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">Mavro-50% for the first contribution will not be available.</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">We launch three-month contributions of two types: 40% and 50% (see more details in WHAT IS MMM).</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">We’re confident that this measure (especially paragraphs 1 and 2) will significantly reduce the load on the System while also significantly improving its stability.</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">As a matter of fact, a restart is not the end of the world, it’s just a restart of the System and nothing more. Continue to provide help and you’ll get it all back (even if you’ve lost something now). It all starts from the beginning. It’s the most opportune time for participating.</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">We would also like to remind you (just for form’s sake) that everyone had been fully aware of all the risks and had read the WARNING which they had also confirmed by checking the relevant box in the process of registration.</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">Hoping for your understanding,</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">MMM Administration</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> Some of the participants of the scheme expressed regrets for ever joining MMM.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> One of the participants (names with held) said that if he had known he would have used his money fro something better rather than investing on the scheme.</div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">“This MMM people are very useless, they just came to dupe us,” he said.</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> On the promise by the scheme to buy back the debts it owed Nigerians when it restarts, he said:<em style="box-sizing: border-box;"> “Restart? who are they restarting with? Nobody will join MMM in Nigeria again”.</em></div> <div style="box-sizing: border-box; color: #222222; line-height: 24px; margin-bottom: 24px; overflow-wrap: break-word; word-wrap: break-word;"> <em style="box-sizing: border-box;">“MMM is gone and gone for good,” he said.</em></div> </div>

Nigerians weeps as MMM announces a “restart”.

It has been revealed that popular ponzi scheme MMM has officially announced a  “RESTART”  of the system, leaving many Nigerian partici...

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