Nigerians lost N12bn on top 'get money quick' scheme

MMM dey claim say people fit get extra money Image copyright MMM Nigeria
Image example MMM dey claim say people fit get extra money

E pass N12bn wey comot for Nigerians hand, after dem do MMM wey be "ponzi scheme."

Na Nigeria Electronic Fraud Forum talk dis one inside their annual report for 2016. Them talk say di money fit pass N12 billion but the report dey based on money wey people dey exchange through their bank.

Ponzi scheme na one kind of 419 where business wey no exist go ask people to invest, then go begin use di money of those wey invest later, to pay profit to people wey first invest.

Wetin be MMM?

E get as di thing be and different people go tell you different things.

MMM na Mavrodi Mondial Moneybox, and e start for Russia since 1989.

For their website MMM say dem be "social financial network wey dey helep people to find helep from theirself."

Members suppose get up to 30% if dem put money inside for just 30 days.

But as e start for Russia, na so di thing carry k-leg. E no tey wey MMM start, na im $100m lost comot from people hand.

As that one happen, Russia government cancel am for di country. Dem come put Sergey Mavrodi, the person wey start am for jail for four years.

For Nigeria, MMM start for November 2015, and plenty people join.

By December last year, MMM do go-slow and dem bin claim say na because many people dey visit their website na im make dem no fit operate.

Dem come claim say e go re-open for January 2017 but as e be so, MMM no get plenty people wey dey follow am as e be before.

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