SCAM ALERT: MMM comes back, launches weekly promo

The money making scam, Mavrodi Mundial Moneybox, that collapsed months ago, launched a weekly promotional stunt, obviously aimed at wooing old and unsuspecting new ‘investors’.

A letter displayed on the pages of participants of the scheme urges them to invite new members. Members must invite new participants and register them as referrals to qualify for the contest.

They have the opportunity to win cash prizes between N30,000 and N500,000, under an exercise the Ponzi scheme masterminds call, “Promo-Task Contest’

The Securities and Exchange Commission and the Central bank of Nigeria have warned Nigerians against participating in the scheme which they described as a “Ponzi” scheme.

The scheme has been mired in controversies after it placed a one-month freeze on all withdrawals from the scheme on Dec. 13, 2016.

UCJ, UNILORIN.