MMM agents, docked over cheating in Katsina

Two middle-aged persons, Debora Fojo and Musa Garba on Friday appeared before a Malumfashi Chief Magistrates’ Court in Katsina State for breach of trust and cheating.

The two were accused of collecting N429, 000 to invest in an online business called MMM.

Fojo and Garba are residents of Government Girls Secondary School Malumfashi Quarters and Unguwar Danyawa village in Kafur local government area respectively.

According to the separate First Information Reports (FIR) read to the court, Fojo allegedly collected N229, 000 from one Sani Salisu of Unguwar Sodangi in Malumfashi to invest in the scheme.

Garba, on the other hand collected N200, 000 from one Adamu Aliyu of Gangarawa also in Malumfashi to invest in MMM.

The Police Prosecutor, Insp. Sani Ahmed, told the courts that the accused deceived the complainants with a promise that business would provide 30 percent returns within 30 days.

He said that neither the original money nor the interest were returned to the complainants after the expiration of the agreed period.

He said that the accused were charged with criminal breach of trust and cheating, offences that contravened sections 312 and 322 of the penal code laws.

The two accused persons, however, pleaded not guilty to the charges.

The Chief Magistrate, Lawal Usman adjourned Fojo’s case till April 11, while that of Garba was moved to April 18, for mention.

He ordered that the two accused persons be remanded in prison custody.

 This story first appeared on The Nation

MMM Abandons Nigeria, Ports to Kenya, Promises 40% Benefit... How Nigerians Can Partake!

Just few days after placing a month ban on the accounts of over 3 million Nigerians, Mavrodi Mondial Moneybox (MMM) has announced its presence in Kenya.

The Ponzi scheme promised participants of the East African country a profit of 40% for every help given instead of the 30% benefit it offered its participants in Nigeria and South Africa.

Below is their Kenya introductory message...

“Yes, it is possible to earn 40% per month here, but this is not a hyip! This is a community of ordinary people, selflessly helping each other, a kind of the Global Fund of mutual aid.

“This is the first sprout of something new in modern soulless and ruthless world of greed and hard cash. The goal here is not the money. The goal is to destroy the world’s unjust financial system. Financial Apocalypse! Before you join, be sure to get acquainted with our IDEOLOGY!”

MMM operated in Nigeria for over one year before the recent development same way it operated in South Africa with lots of funds unpaid.

Nigerians can either wait on hope till January or switch to Kenya to partake in the scheme.

As MMM Freezes Accounts, Court Sentences 3 to 8 Months in Prison for Operating Wonder Bank... Read Why + Pictures!

While many Nigerians are still licking their wounds as many will not shop for the yuletide season, due to the freezing of confirmed mavros by the MMM team, reports flying via WhatsApp has it that the Economic and Financial Crimes Commission on Thursday, 8th December, 2016 secured the conviction of three operators of wonder bank, Dayo Peter Bulus (a.k.a Bulus MaiyakiL Oyeleye Adetunji (a.k.a James Adetunji) and Martins Adedayo before Justice Salad Mohammed of High Court 2 Gombe, Gombe State on two Count charge of Conspiracy and Cheating to tune of (N968, 050) Nine Hundred and Sixty Eight Thousand Fifty Naira Only.

The Convicts were arraigned by the EFCC on Thursday 8th December, 2016 before Gombe State High Court no. 2. Upon their arraignment, the convict pleaded guilty to the two count charge against them.

In view of the plea of guilty entered by the 2nd, and 4th Accused persons, the prosecution counsel A.M Labaran urge the court to convict them' based on their plea as there is no better evidence than the confession of an accused person and also cited Section 28 of the Evidence Act, 2011 as Amended.

The complainant alleged that the convicts were using the Company Graceland Real Option Ltd. to lure their victims in Gombe State through a promise of soft loan of 12% interest rate without collateral. The convicts fixed the repayment period of the said loan to 35 weeks with option of weekly or monthly repayment. The victims were lured to purchase the loan form at the cost of N2,000 (Two Thousand Naira Only) before they can be granted the loan, which very large number of persons key into. It was at the point of purchasing the loan form that some of the victims suspected fraud and alerted the EFCCwhich swung into investigation that led to the arrest of the convicts.

Count one of the charge read 11 That you Graceland Real Option Ltd., Dayo Peter Bulus (a.k.a Bulus Maivaki), Oyeleye Adetunji (a.k.a James Adetunji), Martins Adedayo being the account officer and agents of Graceland Real Option Ltd, and Kenny Christopher (now at large) sometime in June, 2016 at Gombe, Gombe State within the jurisdiction of this Honorable Court, did conspired amongst yourselves to do an illegal act to wit; fraudulently induces various persons to include Vitalis Okoro, Hauwa'u Adamu, Maryam Bukar Ibrahim, Innocent Nwabodo among other unsuspected victims to deliver monies to the tune of N968,OSO.OO (Nine Hundred and Sixty Eight Thousand Fifty Naira Only) to you under the disguise that upon depositing 20% a customer wish to borrow, the said sum were to be used to access loan from Graceland Real Option Ltd which never happened and thereby committed an offence contrary to Section 96 of the penal code and punishable under Section 97 of the Penal Code.

The presiding Judge Justice Mohammed after hearing submissions from the prosecution and the defense counsel agreed with the submission of the prosecution counsel to convict the 2nd, 3rd and 4th accused persons. However, the court convicted and sentenced them to two (2) months imprisonment with an option of N20,000 fine on count 1 and six (6) months imprisonment with an option of N40, 000 fine on count 2.

Breaking! Hope For MMM Participants in Nigeria... READ NOW!!!

Since the disturbing news broke this morning about the freezing of confirmed mavros in Nigeria by MMM, a lot of Nigerians have been thrown into a state of confusion.

While some argue that the Scheme is in its first stage of collapse others believe the MMM team is only observing an annual ritual to ensure its system do not crash.

Below is a detailed information on the MMM scheme, the emerging challenges and possible solution as written by Okwaifugo, a Social Media Entrepreneur.

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MMM is not a Business. Don't do the scheme as Business. Find something doing. A MUST READ!!!

By OkwaIfugo

Calls flying around, mails and every WhatsApp groups have been busy why? Over 2 million MMM subscribers woke up today to find out that their money will not be withdrawn till January 13th. This boils down to what so many people tell you in other to convince you to join the scheme. They tell you that....

1. MMM uses the money for oil & gas business and pay you 30% a month.
2. Every click on MMM website generates money for them.
3. They lend money to big politicians who returns with bigger interest.

The answer to 1 is that MMM is never in any oil and gas. Number 2 answer is that MMM has no google ad on their site therefore the site is not monetised for google AdSense. Lastly MMM never lends anyone money not to talk of politicians.

WHAT MMM DO WITH YOUR MONEY

MMM robs peter to pay Paul. For example, they will collect from Nonso and Pay Adamu, Collect from Adebisi and Pay Edem. Now the money people Nonso, Adamu, Adebisi, Edem will bring into the system will be used to settle their bonus and interest... And it grows from this way till when ever.

MMM was threatened by the Nigerian govt and Mavro replied Buhari and gave him over 6 reasons why he is saving the lives of Nigerians with his Ponzi Scheme especially in this recession time. As a general its better you kill yourself than the enemy killing you when you are sure you have fallen 100% into the enemies trap. Mavro was overwhelmed by the high rate of GH request the system got in the last two days and decided to punish Nigeria Govt with a 30 days pause of payment in the system.

In other words, Nigerians will cry and wail and the govt will never talk about closing down MMM again so when it bounces back in January, they will be free to operate very well without any threat and Media malign. So the rate of cash withdrawal from MMM is more than cash coming in and with this the system will collapse. This is the reason MMM is going on break so stop withdrawal, keep you in your house, no Xmass, or party. No Extravagant Spending etc.

SOLUTION

MMM warned you to invest your spare money. But will never match you in time if your investing that spare rather when investing huge funds from 200k your matched in few days while 20k your matched in 2-3 weeks. The truth is Nigeria do not have Spare money. They go into any investment especially when its a money doubling scheme with their whole cash. The best solution is stay calm, keep praying. I see MMM bouncing back but I see bonuses and the 30% being slashed. This happened in Zimbabwe and the scheme bounced back with percentage decline.

Remember we have Bitcoins for sale from 515-560 depending on the amount you need.

WhatsApp - 08087142616.
OkwaIfufo Integrated Services Nig Ltd.

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What's your take about this article?

Breaking... Confusion, Panic Hits Nigeria as MMM Freezes all Confirmed Accounts

According to a report on The Vanguard, members of the famous money-doubling scheme, Mavrodi Mundial Moneybox, MMM have been thrown into panic and great confusion following the message from the ponzi scheme freezing all confirmed Mavros, otherwise known as money due for withdrawal for one month.

This means, all the accounts of members who are due to be paid after having ‘provided help’ (PH) to another person since the last month have been frozen and hence, have no access to request for payment, known as ‘Get Help’ (GH) until after one month.

All members woke up with the shock message displayed on the screen as soon as they logged into their accounts. Giving reasons for freezing the Mavros, the scheme said it is experiencing heavy workload and want to deal with the attacks coming from the country’s mass media. It also said it wants to prevent hitches in the coming new year hence, the freezing of the access to requesting for payments even when such person is due for payment.

The message read thus:

“One-Month Freezing of Confirmed Mavros” “Dear members!”

“As usual, in the New Year season the System is experiencing heavy workload. Moreover, it has to deal with the constant frenzy provoked by the authorities in the mass media.”

“The things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but!.. it is better to avoid taking risk.:-)) (Moreover, there are almost three weeks left to the New Year.)”

“Hence, on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month.”

“The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled. (Which we will definitely do.:-))”

“We hope for your understanding, Administration”

Panic and serious lamentation have followed this breakfast surprise.

Do you think MMM is Crashing?