FAQ: What Is Happening To Mmm Nigeria?

Is MMM Nigeria still working?

The scheme had announced a shut down in April 2018 following the death of Sergei Mavrodi, its founder. “After much deliberation, we have made the conclusion that continuing the system operation, without our leader and ideological inspirer, is impossible and makes no sense,” a message on MMM Nigeria website had read.

How long did Mmm last?

However, the success didn’t last for long. Eventually, the company was shut down in 1994 and it declared bankruptcy in 1997. Unfortunately, everything didn’t end here. After 14 years, the company reopened as “ MMM Global.” Here’s where the story of MMM and Nigeria started.

Is MMM back in 2019?

Great News…… MMM is back and better! re-launched Janaury 2019. Like sunrise in the morning, MMM Cooperation set the pace on the 22nd of January 2019 all over the world.

What happened to the owner of MMM?

MMM founder, Sergei Mavrodi is dead. He was 62 years. The ponzi scheme he created killed many Nigerians, sent some to psychiatric hospitals & many are broke.

Is MMM back in Nigeria 2020?


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Is Pyramid Scheme legal in Nigeria?

Unarguably, Ponzi schemes operate without the license and authorization of the CBN and are thus, illegal. Ponzi schemes have also been recognized by the Nigerian Court as illegitimate and fraudulent thus in the case of Mekwunye v. Lotus Capital Ltd.

Who invented MMM?

Sergei Mavrodi Vyacheslav Mavrodi Olga Melnikova / MMM was established in 1989 by 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.

Is MMM registered in Nigeria?

Forex traders working with Rally Trade says Nigerians fell for Mavrodi Mundial Moneybox, a ponzi scheme popularly called MMM, because they ignored all the warning signs. “It wasn’t a company registered in Nigeria, with no Nigerian management staff.

What does MMM stand for?


Acronym Definition
MMM Multi Media Movie
MMM Marketing Mix Modeling (statistical analysis)
MMM Million Marijuana March (aka Global Marijuana March)
MMM Magnetism and Magnetic Materials (annual conference)


When did Mmm start in Nigeria?

It all dates back to November 2015 when MMM launched a website in Nigeria describing itself as a “mutual aid fund where ordinary people help each other”. It guaranteed returns of a whopping 30% per month on payments, and for a while it worked so word spread quickly.

What is MMM BSC?

“Welcome to MMM BSC an Automated Decentralized Mutual Aid system powered by Ethereum Blockchain Smart Contract”. # MMMBSC.

Is MMM South Africa still active?

After countries like South Africa and Nigeria attempted to shut them down in 2016, MMM paused their operations, only to return at the beginning of 2017 with a new marketing focus: Bitcoin. Today MMM offers bonuses and higher interest rates for contributions made in the cryptocurrency.

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When did MMM collapse in South Africa?

You have 5 articles to share every month. Send this story to a friend! Cape Town – MMM, the online Ponzi scheme that collapsed in South Africa and Nigeria in 2016, is attempting to reboot its scheme by offering a Bitcoin-based currency to all users around the world.

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