In order to gain more potential investors, MMM administrators have introduced a new strategy to attract more members to their pledging society.
The Ponzi Scheme, Mavrodi Mundial Moneybox (MMM) which thrilled many people early this year, 2017 before collapsing some months back around November 2016 has invented a weekly promotional stunt aimed at wooing old and unsuspecting new ‘Investors’.
The money making scam it would be recalled left many people in shock early this year after it crashed forcing many Nigerians to lose millions of naira they invested in the scheme.
However, in a bid to bring back those who left as a result of the crash, a letter displayed on the pages of participants of the scheme is urging members to invite new participants and register them as referrals to qualify for the contest. The contest is an opportunity to win cash prizes between N30,000 and N500,000, under an exercise the Ponzi scheme masterminds call, “Promo-Task Contest’
The letter reads in part:
MMM Nigeria launches Promo-Task Contest.
MMM Nigeria launches the first Promo-Task Contest – which a relevant section has been created for the contest in the Personal Office.
Winners are selected based on the number of points received for completing promo-tasks. Whoever receives the biggest number of points becomes the winner.
The contest period is from Monday to Sunday while at the end of each week; winners are announced and awarded Mavros (cash prizes) available for output.
In the first contest, there are 50 prizes. First place will win N500,000; second place N300,000 and third place winner will take home N200,000.
Fourth place to 10th place winner get N100,000 each; 11th to 30th place wins N50,000 each while participants who placed 31st to 50th wins N30,000 each.
Members can complete both online and offline tasks with a focus to promoting the community and contribute to the growth of the scheme.
The promo-task contest is a serious tool aimed at community growth, and as such, would be continuously adjusted and refined to enable MMM Nigeria to overcome.
The Central Bank of Nigeria (CBN) has warned Nigerians not to participate in the scheme as this may be another way of dumping them all their hard earned money.
The Securities and Exchange Commission (SEC) sees this scheme as a ‘Ponzi’ scheme.
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