Sergey Mavrodi, founder of MMM, has written an open letter to the Nigerian government to justify the importance of the popular Ponzi scheme.
The News Agency of Nigeria (NAN) reports that the letter was displayed on the page of all participants of the scheme.
Mavrodi warned the federal government that if the Ponzi scheme collapses, millions of Nigerians will suffer, noting that “MMM is their only means of livelihood”.
He stated that the money being made from the scheme was being redistributed among Nigerians as a way of “restoring social justice”.
The letter reads in part: “So far MMM has come under a constant attack from you. In this regard, I would like to ask you a few simple questions. Since you are concerned with the interests of millions of your fellow citizens, I hope that you would be so kind to answer them.
“What are you trying to get? Do you want the MMM System to collapse and millions of people to suffer? Who will support them then if now MMM is their only means of livelihood? Will you? You even don’t pay wages to people? Or might you not care about them? Might you be using a trendy topic to make a good name for yourselves? What will you say to a mother who will have no money to buy food for her child? Will you let her child die for the sake of the higher interests of the economy?
“You say that MMM is a scam. What is the scam here, if all members are warned in advance about all the risks, the possible and impossible ones? They know there are no investments at all. The warning is a red text on a yellow background placed on most prominent place of the website.
“You say that MMM is bad. Why? Yes, it produces nothing, but nothing gets out of the country either. The money is just redistributed among the citizens of Nigeria. It gets from those who are richer to poorer ones, in this way restoring social justice. What’s wrong with that?
“You have repeatedly stated that “it should be investigated!.. researched!..” It means you know nothing about this System yet; you even haven’t understood how it works.
“And finally. If you know what is right for people, why is the life so bad in the country?”
He further noted that the MMM “has been working in Nigeria for a year, and according to your estimates, the total number of members now is about 3 million people”.
The Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) have previously warned Nigerians against participating in the scheme while the house of representatives also ordered an investigation into the operation of the scheme, in October.


source:


https://www.thecable.ng/mmm-founder-writes-buhari-says-you-know-nothing-about-our-system

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How do you guys get the 30 percent from ?

This nah waec quession for buhari...i know he cant answer it.Just like how he has not been able to answer questions regarding his certificate.

misplace priority, i dont know what is wrong with this our government...mmm has help alot of pple bt is like this government enjoy seeing pple die in poverty.

The 30% interest remains a mystery, whether Mavrodi likes it or not MMM will still crash. The rate of new opt in will reduce and returning participant will not inject new fund while some will stop. No doubt MMM has helped a lot of people, it will simply become non sustainable in the long run. New participants that enter the scheme last will bear the brunt.

Those question doesn't seems to come out from a smart person ,if this is really true ,then that man needs to go back to school. On the other hand no be English we wan chop.....the system is paying and we appreciate him for that. As for the gvt the thunder way go fire bubu and his useless rep and senator for not discussing pressing nigeria issue ,it will take their life without warning.

pallybrown:
How do you guys get the 30 percent from ?

They aren't the ones to pay that 30%, but rather the members. if your question is how they make there money, simple, the lots of traffic generated when it's numerous members login into their site to check their Personal Office, PO, generates lots of fun to them cos within a minute over a million people logs into that site.

cupidFlint:
They aren't the ones to pay that 30%, but rather the members. if your question is how they make there money, simple, the lots of traffic generated when it's numerous members login into their site to check their Personal Office, PO, generates lots of fun to them cos within a minute over a million people logs into that site.

How does the website traffic translate to revenue when the website doesn't advertise anything on it? Who pays them because of the huge traffic and why?
Just asking cos I don't know. No re.tarded responses please.

SmartMugu:

How does the website traffic translate to revenue when the website doesn't advertise anything on it? Who pays them because of the huge traffic and why?

oga this question any internet savy will answer do those on instagram with I million follower advertise anything on there pages

As a former zombie I want to use this medium to ask for your forgiveness for voting buhari.....I can't believe I left school and traveled all the way from Enugu to Lagos just to vote for a govt that is anti people,a govt that will rather see a few telecoms company secure more profits at the detriment of its own people, a govt that can't pay its female football team,a govt that is yet to kick start any single policy since it resumed office and I stand to be corrected tell me one thing this govt has achieved and I will send you ten thousand naira

Buhari has been given a food for thought,,

He call it a scam, where as it's boldly written on there website "use your spare money" so any sensible person knows what he/she is against

Will Buhari call tobacco company a scam too, having warn people that smokers re liable to die young, yet people still rush them

Asking for trouble....

Sergey Mavrodi is Robinhood, we know that. Let him INCORPORATE MMM with CAMD.

somadinho10:
As a former zombie I want to use this medium to ask for your forgiveness for voting buhari.....I can't believe I left school and traveled all the way from Enugu to Lagos just to vote for a govt that is anti people,a govt that will rather see a few telecoms company secure more profits at the detriment of its own people, a govt that can't pay its female football team,a govt that is yet to kick start any single policy since it resumed office and I stand to be corrected tell me one thing this govt has achieved and I will send you ten thousand naira

1)PMB government has been fighting corruption seriously without one conviction
2) PMB has also achieved to place the country into recession oh!!! am sorry he blames the current situation on GEJ
3) the good part abt this government is that PMB wants to mortgage our feature in the hands of world bank and IMF by collecting $36billion loan!! see grove and our useless senate wants to approve it..
abi na all of us shout Say Baba together!! ee never complete 1yr see suffer head

beleiving this crap,yea i mean MMM,@ur own peril heart attack,paralizing,stroke,suicide mission gbese,madnes,

DAVECENA:

its not as if the participant of mmm do not know the risk involved in investing on mmm. CNN made it known this week that the rate of poverty in Nigeria has dropped by 20% due to mmm.let's be frank, all mmm participant know that mmm is ponzi scheme and are willing to invest all they have and even borrow money to invest even when it is written on the site that one should only use there spare money. who do we blame for the popularity of this scheme is it our bank that gives us an interest of4% in deposits made and charges an interest of 27% on loans.I am a nigerian and I can't understand why our federal government or even state government haven't keyed into a scheme like mmm for its citizen to eradicate poverty.If Nigeria as a country is serious about eradicating poverty! the use of its population strength should be its goal do so and networking should be one of its core area of concentration.imagine a Lagos state sets up something like mmm using both bvn, mobile phone number, email and have a bench mark of not investing more than 200,000 naira.tell me do you think such system won't be sustained.its Nigeria finally and corruption is our middle name!!! but am certain mmm should serve as an eye opener to our government.

somadinho10:
As a former zombie I want to use this medium to ask for your forgiveness for voting buhari.....I can't believe I left school and traveled all the way from Enugu to Lagos just to vote for a govt that is anti people,a govt that will rather see a few telecoms company secure more profits at the detriment of its own people, a govt that can't pay its female football team,a govt that is yet to kick start any single policy since it resumed office and I stand to be corrected tell me one thing this govt has achieved and I will send you ten thousand naira

Daura helipad. Pls send my 10k

hehehehehe. In Trumps voice we are going to have massive PHing bigly.
Mavrodi nna m, no mind that man,he has ear problem.pop into givers forum or get help worldwide guys.oshtronic@yahoo.com

finally. If you know what is right for people, why is the life so bad in the country?


Buhari oya Answer this question

.

SmartMugu:

How does the website traffic translate to revenue when the website doesn't advertise anything on it? Who pays them because of the huge traffic and why?

google and youtube does

Ask your President first before talking to our President

I may not like PMB but that doesn't mean any foreigner can insult him.

Tell buhari i was here

Long live MMM

Did this nerd just say "MMM" is redistributing wealth and restoring social justice? By collecting money from the first entry investors, then ordering the next entry investors to pay the first entries, and convincing others to join the scheme, and hope the chain continues geometrically, depriving the country of economic development?


Sergey Mavrodi, you're an enemy of the state. Since you're the founder, the scheme started with pioneer entries(who are the regional founders) providing help to the tune of billions of dollar to your account and await the next entries to provide help to them, recovering their money with huge profits, then promulgate the scheme geometrically, till eventually the system crashes, and the last entries are unable to get back their returns.

It means the scheme was designed to rob off the last entries.

Confirmed evil genius!

TrueSenator:
Ask your President first before talking to our President

I may not like PMB but that doesn't mean any foreigner can insult him.

Hmmmm!

As I didn't support the fed government fight against MMM, so as am against this vulgar words against our president.. ......... How will a foreigner be insulting our government Bcus, which f the benefit we Nigerians are gotten from his platform...... ..... It's not good enough