A Nigerian who is the mastermind behind the suspected Ponzi scheme known as MMM Nigeria has finally revealed.
According to an online report, the man whose name is Pastor Ernest Chigozie Mbanefo is based in South Africa.
Nigerian Communications Week said Mbanefo registered the site MMM-Nigeria.net domain on June 7, 2016 about at about 5 pm Nigerian time.
NAN quoting NCW And Pageone report written as far back as September said Mbanefo made a single year domain payment. The domain will expire on June 7, 2017.
It was also revealed that MMM Nigeria is not part of MMM Global – a Russian company that was responsible for one of the world’s largest Ponzi schemes in the 1990s.
MMM Global was founded by Russian politician Sergei Mavrodi, his brother Vyacheslav Mavrodi and Olga Melnikova.
The name of the company was taken from the first letters of the three founders’ surnames (MMM) But like MMM Global, the Nigerian scheme is also a pyramid marketing scheme where an investor gets a 30 per cent return on investment.
According to Page One, on the 15th of July, Ernest was awarded a certificate of completion of an online course titled ‘MMM Guiders School’. The certificate was supposedly signed by Sergei Mavrodi himself. He has since given himself the nickname the ‘Super Guider of MMM’. To share news and information about MMM, Ernest also operates a subdomain ‘news.mmm-nigeria.net.
“He is also described as: MMM Nigeria Super Guider who has been working selflessly and tirelessly towards the education, information and proper guidance for the MMM Nigeria Community’
Culled from NAN
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