Money making Ponzi
scheme, Mavrodi Mundial Moneybox (MMM), which collapsed months ago, has
launched a weekly promotional stunt, aimed at wooing old and new
members.
A letter displayed on
the pages of participants of the scheme urges them to invite new
members. Members must invite new participants and register them as
referrals to qualify for the contest.
They have the 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 31th to 50th wins N30,000 each.
“Members
can complete both online and offline tasks with focus to promoting the
community and contribute to 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 Securities and Exchange Commission (SEC) and the
Central bank of Nigeria (CBN) have warned Nigerians against
participating in the scheme which they described as a “Ponzi” scheme.
The
scheme has been mired in controversies after it placed a one-month
freeze on all withdrawals from the scheme on December 13, 2016.
The
scheme, however, made a comeback on January 13 and quickly placed a
limit to the number of withdrawals from old-confirmed mavros (money),
drawing wild condemnation from members and making many of them walk away
from Thecable
What do you think? is it once bitten twice shy,but if it works twice it is no longer bitten,BEATEN!