One week after freezing all participant accounts Nigeria, operator of popular ponzi scheme, Mavrodi Mondial Moneybox, MMM, have moved their business to Kenya.
The new MMM Kenya website is: http://kenya-mmm.net/. An information displayed on the website reads:
“YES, IT IS POSSIBLE TO EARN 40% PER MONTH HERE, BUT THIS IS NOT A HYIP!”
“This is a community of ordinary people, selflessly helping each other, a kind of the Global Fund of mutual aid. This is the first sprout of something new in modern soulless and ruthless world of greed and hard cash. The goal here is not the money. The goal is to destroy the world’s unjust financial system. Financial Apocalypse! Before you join, be sure to get acquainted with our IDEOLOGY!”
Prior to establishing in Nigeria, MMM had established its business in other African countries such as Zimbabwe and South Africa.
Recall that MMM South Africa had earlier in the year, froze all participants account in South Africa, which haven’t been de-frozen as I write this.
Guiders and die-hard participants of the South African version of the scheme had blamed the media for steming the panic, which led to participants accounts being frozen on April 30, which later snowballed into reboot of the system, with participants being unable to Withraw – a very scenario is playing out in Nigeria today.
MMM South Africa was quoted as telling its members:
“We have to declare a restart and start all over again. We have no choice.”
Mavrodi Mondial Moneybox was founded by former Russian politician, Sergey Mavrodi, he was wanted in Russia when the original MMM collapsed in the late 1990s, Mr. Mavrodi served prison time for the charges of corruption leveled against him.