The
leadership of MMM has issued an apparent appeal to the Nigerian
government to allow the continued operation of the scheme in the
country.
Ponzi scheme company (MMM) founder, Sergey Mavrodi has allegedly
written an open letter to the Federal Government of Nigeria explaining
the benefits of the scheme.
According to www.nan.ng the letter was displayed on the page of all
participants of the Scheme. MMM has massively gained ground in Nigeria
with millions of participants taking the risks due to the hassles of
economic recession plaguing the most populous country in Africa.
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 a 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”?
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