A Nigerian, who styled himself as Pastor Ernest Chigozie Mbanefo is the mastermind of the suspected Ponzi scheme known as MMM Nigeria.
According to an online report, Mbanefo is based in South Africa.

Communications Week said Mbanefo registered the site MMM-Nigeria.net domain on June 7, 2016 about at about 5 pm Nigerian time.
NAN quoting NCW And Pageone report written as far back as September said Mbanefo made a single year domain payment. The domain will expire on June 7, 2017.
It was also revealed that MMM Nigeria is not part of MMM Global – a Russian company that was responsible for one of the world’s largest Ponzi schemes in the 1990s.
MMM Global was founded by Russian politician Sergei Mavrodi, his brother Vyacheslav Mavrodi and Olga Melnikova.
The name of the company was taken from the first letters of the three founders’ surnames (MMM) But like MMM Global, the Nigerian scheme is also a pyramid marketing scheme where an investor gets a 30 per cent return on investment.

Around the world, MMM is feared. In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered.
MMM recently crashed in Zimbabwe: Thousands of ‘Mavrodians’ in Zimbabwe were left in tears when the scheme crashed, losing tens of thousands of their lifetime savings.
PageOne gave Mbanefo’s address as 1 ROYAL STREET, LINDBERG PARK, JOHANNESBURG, SOUTH AFRICA.

According to Page One, on the 15th of July, Ernest was awarded a certificate of completion of an online course titled ‘MMM Guiders School’. The certificate was supposedly signed by Sergei Mavrodi himself. He has since given himself the nickname the ‘Super Guider of MMM’.
To share news and information about MMM, Ernest also operates a subdomain ‘news.mmm-nigeria.net. The site praises him and projects him as the leader of the Ponzi Scheme in Nigeria.
“He is described as: MMM Nigeria Super Guider; Pastor Ernest Mbanefo, has been selflessly helping thousands of MMM Nigeria Participants whether or not they fall under his downline structure.

The brain behind the MMM NIGERIA REVOLUTION operation has been working selflessly and tirelessly towards the education, information and proper guidance for the MMM Nigeria Community’
Culled from NAN.

source: http://www.vanguardngr.com/2016/12/mbanefo-mmm-owner-unmasked/

So he brought M- Moku M- Mogbe M-Modaran to our brothers and sisters. He did well..... But this one weh dem don get your address so.. Boys go arrange you o

Well for me, I wish all MMM Nigerians participants well and that the current freezing issue will be resolved come January if not, a lot if people will become hopeless and the hardship will increase for them.
God help Nigerians.

phoneport:
Well for me, I wish all MMM Nigerians participants well and that the current freezing issue will be resolved come January if not, a lot if people will become hopeless and the hardship will increase for them.
God help Nigerians.

the spirit of the Lord led me not to provide help this December.

But many people made money from MMM, Why all the wailing? Greed factor is involved. That was how greedy people crashed ultimate recycler

Hmmm. Only God will help us from the hands of these Men of God.

MMM

..... And the bullcrap continues. After another 2 years of hunger in the land, watch as another trap scheme will come and our gullible investor brothers and sisters will join in.
Sha, boys in SA, make una track am, help your country people
Word for the day:
Wealth is built through hardwork. Sharp money comes with sharp risk.

Nma27:
But many people made money from MMM, Why all the wailing? Greed factor is involved. That was how greedy people crashed ultimate recycler

You are very correct my brother.
Greed has always, and will always be the major problem of Nigerians.
The government and the people are so greedy that any good scheme will be crashed by their GREED.

Chaiii. Some people wey no dey this MMM even panic pass people wey dey.

Biko wish the people involved well na.

My fear for them remains that, "if" they defrost the accounts in January, the massive panic will prompt lots of people to opt out of the system and in that case who will pay who, when new people no longer join?

I wish everyone involved well!

Many wards and bed will be needed

I hope this will not cause mass suicide later, I think its high time we start giving some people couselling, because the kind havoc it will wreak when it finally crash no be for here oo, fear just catch me on their behalf, mehn! this is so dronomatic and lobonatic,
*no ask me the meaning abeg*

He is an Igbo man?












I quit!

seun has gradually become one if those ignorant social media owners who will do everything to tarnish the image of people/interests they completely know nothing about.

you will fail and MMM will resume come january as they always do every end of the year.

MMM gave me the capital i needed to boost my business when your so called banks and government let me down. so why are you always in a haste to post news of them to frontpage be it true or false when you should be concerned about what buhari and his cows in government has turned this country to.

my problem is the way nigerians are so gullible that the slightest falsehood shakes them.

for me, my confidence in MMM remains the same depite my 265k involved because MMM has changed my financial situation for good.

if you don't like it please seun.... look the other way cos you no go lend me money if i come to you... plus... it's our money, not yours

Omo see GOBE

MMM

lamentation 3:16

;Do iyaff started Mogbe Moku Modaran!

e Don red b dat

Chai Christmas money is stalked in mmm ooo

this panic and false information is not needed.

the site is still up and running let's wait Jan 12 no far nah.

November news.


But I'm surprised it's on front page when this freeze happened....

O setigo!

I dont see MMM coming back January


The site was frozen because demand became higher than supply (everybody wan withdraw for xmas)


My hapinness is that i warned many!

A very bad day for Nigerians

Nma27:
But many people made money from MMM, Why all the wailing? Greed factor is involved. That was how greedy people crashed ultimate recycler

i think most of the participants havent gotten upto 100% of their start up capital hence the wailing.

Everybody man born of a woman knows that the system was never going to be sustained when the gh is exceeding the ph

And shutting down the system on short notice will make it crash so so easily.

They should have sensitized the participants earlier on.

I just tire for the matter seriously

phoneport:
Well for me, I wish all MMM Nigerians participants well and that the current freezing issue will be resolved come January if not, a lot if people will become hopeless and the hardship will increase for them.
God help Nigerians.

Not going to happen.

If a bank refused to give you your money for 30 days, as someone else has said elsewhere.....we would be calling that bank a failed bank.

MMM has fallen. It was just another Ponzi scheme. Nigerians have been played.

All of a sudden we're unnmasking the owner of MM Nigeria.

All of a sudden, MM Nigeria is not part of the main MMM international.

When you people were collecting money and cleaning mouth, you did not ask all these questions.

They have told you that they will open shop in january, why not wait till january.

Even if dem don pack up, buy toilet roll and wipe your tears. You knew what you were getting yourself into but still went ahead.

Stop disturbing us with your woes.