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Sergey Mavrodi

MMM founder writes Fed. Govt on benefits of Scheme

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MMM Founder, Sergey Mavrodi has allegedly written an open letter to the Federal Government of Nigeria explaining the benefits of the scheme.

The letter was displayed on the page of all participants of the Scheme.

Recall the the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) had warned Nigerians against participating in the scheme which it described as a “Ponzi”.

The House of Representatives in October also ordered an investigation into the operation of the scheme.

According to the letter, Mr Mavrodi implored the government to look at the benefits of the scheme rather than be against it without knowing how it was helping Nigerians.

He insisted that if the government was really interested in the welfare of the Nigerian participant, then the scheme should be left alone arguing that MMM was helping the over 3 million Nigerian participants.

Read below the full script of the letter as obtained by our correspondent from the Dashboard of one of the participants.

Open Letter from Sergey Mavrodi to the Nigerian Authorities

Honorable authorities,

So far MMM has come under a constant attack from you. In this regard, I would like to ask you a few simple questions. Since you are concerned with the interests of millions of your fellow citizens, I hope that  you would be so kind to answer them.

What are you trying to get? Do you want the MMM System to collapse and millions of people to suffer? Who will support them then if now MMM is their only means of livelihood? Will you? You even don’t pay wages to people? Or might you not care about them? Might you be using a trendy topic to make a good name for yourselves? What will you say to a mother who will have no money to buy food for her child? Will you let her child die for the sake of the higher interests of the economy?

You say that MMM is a scam. What is the scam here, if all members are warned in advance about all the risks, the possible and impossible ones? They know there are no investments at all. The warning is a red text on a yellow background placed on most prominent place of the website.

You say that MMM is bad. Why? Yes, it produces nothing, but nothing gets out of the country either. The money is just redistributed among the citizens of Nigeria. It gets from those who are richer to poorer ones, in this way restoring social justice. What’s wrong with that?

You have repeatedly stated that “it should be investigated! researched!” It means you know nothing about this System yet; you even haven’t understood how it works………

And finally, If you know what is right for people, why is the life so bad in the country?

Sincerely yours,

Sergey Mavrodi

P.S. As for your statement that “everything will collapse soon”. The system has been working in Nigeria for a year, and according to your estimates, the total number of members now is about 3 million people. In Nigeria the population is approximately 195 million. Can you calculate? Will it be “soon”? :-))

About Charles Igbinidu

Charles Igbinidu is a Public Relations practitioner in Lagos, Nigeria

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60 comments

  1. Even the Govt can invest not so?

  2. We no gree oh thief n founder of the Dreaded MMM

  3. Anthony say u no gree, no be we no gree. If u look well u’r alone

  4. MMM rocks! Thank you Mr. Sergey Mavrodi!

  5. Na by force? We say we no want!!

  6. may it never be well with mmm haters mmm together we change d world

  7. Hmmmmm. Simple common sence. How can a biz of exchanging money wtout any form of rendering a service or involve in any form of a production have a happy ending. The support some are giving it is like , everyone shld stop any thing legitimate they are doing for a living & join MMM. Why dont Dangote Close down all his companies & join/dominate MMM? The end shall justify d means. No short-cut to work. We shall see.

  8. U own dem no apology if u like u join if u dont like keep calm nd watch

  9. Bad belle people live mmm alone, together we stand long live mmm nigeria, fuck buhari

  10. Please tell Nigeria’s Government to invest her budget for 2017 in MMMN!

  11. God have mercy on your! Please open there eyes, that they may see and belive. Jesus said. If u must worship ME. Worship me in SPIRIT AND TRUTH. MMM is not acepted for the body of CHRIST.

    • MR VICTOR,GO TO GOD IN PRAYER AND ASK GOD IF MMM IS REAL OR NOT.TO BE SINCERE WITH YOU,WHEN MMM BEGIN IN NIGERIA, I WENT TO GOD IN FASTENING AND PRAYER AND GOD TOLD ME THAT,IT IS HIM THAT PERFECT IT LIKE THAT,OUR GOD IS GOD OF JEHOVAH JIREH(THE GREAT PROVIDER.AS A CHILD OF GOD,I HAVE DISCERN SPIRIT,IF GOD TALK TO ME I KNOW.IF NOT FOR MMM,MANY WOULD HAVE DIE BECAUSE OF ECONOMIC RECESSION.

    • Odayele please do’nt evolve or mention God in this case, mmm is real but gambling all of us knows that but because it pays we refuse to care for its origination

    • Please stop dragging God and Christ to this one. MMM is not robbing anybody. The terms and conditions are clear.

    • DON’T SAY IT AGAIN THAT GOD DID NOT INVOLVE,EVERYTHING IS FROM GOD,IF GOD DID NOT ALLOW IT TO HAPPEN IN TIME LIKE THIS,WHAT ARE YOU GOING TO DO?.YOU DON’T KNOW THE AMOUNT YOU ARE BUYING FOODSTUFF NOW.TO BE SINCERE WITH YOU,IT IS GOD THAT SAVE THIS NATION, THINGS WOULD HAVE OCCUR WITH SITUATION ON HAND NOW.BUT GOD MAKE AWAY.NO WONDER! BIBLE SAYS “OUR GOD IS IN HEAVEN DOETH WHATEVER HE PLEASE HIM”(PSALM 115VS3).EZINWA AND YUSUF GO AND MEET YOUR PASTOR TO PRAY THE PRAYER OF FORGIVENESS FOR YOU.AS FROM TODAY,TRY TO BE PRAISING GOD,PRAISE HIM! PRAISE HIM! FROM YOUR INNER MIND.TO BE SINCERE WITH YOU ‘MMM’ IS NOT GAMBLING,IT IS AN INVESTMENT,HAVE YOU FORGET NUMBER OF DAYS YOUR MONEY SPEND IN BANK WITHOUT YIELDING ANY INTEREST.MMM IS NOT A GAMBLING.IT IS GOD THAT MAKE A WAY.(ISAIAH 43VS19-20).

  12. Mavrodi was jailed in his country because of this fraudulent ponzi scheme.He came to Nigeria because he knows we tolerate a lot of rubbish in this country.Today as we speak he dare not go to his Russia country and write a letter such as the one he has written here.He even tried to introduce the scheme in China and he was chased away.It is only in Nigeria that will allow anything and people are already abusing the govt because the govt is trying to regulate it so that people will not fall victims to it.

    • We do’nt need Govt regulations

    • Oga go sleep for gutter, u dnt anything good to offer

    • What are u smoking? are u saying mmm operates only in Nigeria? conduct ur research very well and u shall know the truth behind that false info u packed in ur brain about Sergie’s conviction back in d days. pls that thing u are smoking isn’t good for ur health. quit so u can receive brain.

    • Nigerians are desperate people who can do anything for money they can reject God or even curse him if their money source is threatened. What a people with poor values of life?

    • Prince, i guess you are an American!!!

    • Prince have u ever feed any body in ur life before? Just because u put on some rain coat jacket doesn’t make u gentle man, better remove ur glass and see very well. Who u help? U don baf?

    • 4get, prince is a hungary man

    • Sensible people like me get involved into productive investment that can give solutions to ever solution seeking world. If every nigerian gets involved into money lending without productivity what will you buy at the end of the one month waiting? Inflation is the product of ponzi scheme. Mmm can keep you in recession but will not bring you out of it.other countries can turn things around with such scheme because they can invest their interest into SMEs but nigerians don’t want to border their brain they prefer cartons of money to productiity.this is reason behind their leaders stealing public fund rather than mass productivity and public property. The truth is that most people insulting others for the of mmm are in same class with Dogs and pigs

    • Dogs and pigs face food with lost of mind and reasonings. The shocking thing about it all is that people stop their work and do mmm. Very soon people will stop school even that of their children, seat at home and wait for mmm monthly alert

    • *NOW* Let’s remember our safety nets whc we av always sensitized ourselves abt…

      MMM has over 10 safety nets which will never make it crash. And you Never notice But I will mention 10 out of them.

      *1, Pause mode*

      *2, 14 days defrost*

      *3, Extension of the getting help hours*

      *4, Seeking help from neighboring country*

      *5, No central account attached*

      *7, Peer to peer system*

      *8, Guider’s efforts*

      *9 PH match hours extension*

      *10, Website upgrades and security*

      *1, Pause mode*

      This process is applied when the numbers of the people getting help is greater than the people help. The system will pause the GH transactions and allow more PH to come into the system for the duration of 2 and half months, then the system will now restart.

      PH means provide help and the GH means get help

      *2, 14 days defrost*

      The participants will not be able to withdraw their money until after 14 days when the payments have been confirmed. During this process, more PH would have come into the system therefore there would be pool of cash to pay the old participants.

      *3, Extension of GH hours*

      this occur when there is a public holidays when the banks are not working therefore, there won’t be transaction and it may cause the problem to the system. The system will now extend the hours of the people who are getting help at that period to allow more People providing help into the system.

      *4, Help seeking from neighboring country*

      When there are more GH than PH in a country, MMM will look into the other countries which are doing well and match them together, pending the time that the affected country will be OK.

      *6, No central account attached*

      MMM does not have a certain account that we are sending to. MMM doesn’t collect your money.

      *7, Peer to peer system*

      Participants pay directly to the bank account of the other participants seeking help

      *8, Guider’s efforts*

      Guiders are the heartbeat of MMM, guiders make sure each and everyone in MMM understand th