One of the participants in the Mavrodi Money scheme, popularly known as MMM, has taken to social media to showcase an SUV, which he claimed was bought from his proceeds from the scheme.
Potokri Forgive posted pictures of a blue-coloured Lexus 330 on his Facebook page with the caption:
“God bless MMM Nigeria, New Lexus 330 to my garage”.
The post was full of positive comments about MMM by people already in the scheme and others.
A comment from Frank Grace, one of Forgive’s downlines in the scheme said:
“I need my share o, I have been using you as my guider for my downlines”.
“yesssssss ooooooo na so na so baba God don win congratulates,” says another comment by Godstime Edokpa.
MMM has permeated the Nigerian society in recent times as recession bites hard on people.
Many see it as an alternative source of revenue and several people claim to have been “blessed” with massive returns from the scheme.
The National Assembly recently directed the EFCC to conduct investigations on MMM and the CBN has warned Nigerians to stay away from it.
This is because the scheme is not backed up by any asset, organisation or product.
It is therefore a Ponzi scheme that has created a bubble, which is due to burst sometime in the future, taking down investors that have their money trapped in it.
The information about MMM on Wikipedia indicates that it is a Ponzi scheme set up by three Russian brothers in the 1990s.
The founders have been arrested and tried for fraud after 5 to 40 million people lost up to $10 billion.
However, beneficiaries of MMM Nigeria insist the scheme is real and yielding good returns. For believers in MMM, Forgive’s story serves as a testimony. Who says MMM does not pay?