Read the report by Vanguard,
As thousands of Nigerian participants and investors continue to groan and moan, some even cursing, over the ‘crash’ of the popular ponzi scheme, otherwise known as MMM, investigations has revealed that one Chuddy Anayo Ugorji, popularly referred to as “The MMM-Nigeria number one Guider,” may have allegedly raked over N5billion within a year from the embattled system.
An analyst says Nigerians (figure yet to be compiled) lost in excess of N8.765billion to the scheme. Many people borrowed loans and some sold their properties to be able to participate in anticipation of funding the Christmas and New Year with the profit margin that was to come with their principal.
An Abuja-based lawyer dipped his hands into some client funds in the chambers to invest N1million just 24 hours before the crash of the scheme. Several official institutional warnings were issued about the dangers inherent in the scheme which was known to have crashed in other nations of the world.
According to a social media pundit, Olushola Oke, “Chuddy is the head Admin of MMM, he is the one who brought MMM into Nigeria, he is the one who runs things at MMM just the way Mark Zuckerberg runs Facebook. People fail to realise that a Website cannot create itself, a human being has to see through its day to day activities and Chuddy is the one behind MMM and the same Chuddy is also a participant of this same MMM and this same Chuddy is also the number one Guider on this same MMM.
“Don’t you already see that there is already A Red flag? He even collected a whopping N6million payment on the 8th of December! As at the last check, 94,774 persons had bought into the scheme.
Crash story is a ruse: Promoters of MMM Nigeria, known as Guiders have urged Nigerians to remain calm as the one month freezing of all accounts of the scheme is a measure adopted to ensure sustainability and stability of the scheme. The system which entails the Providing Help (PH) and the Getting Help (GH) also assured that there is nothing to worry about since the ‘FROZEN ACCOUNT’ period is even the best time to provide help.