Wednesday, November 14, 2018
Tags Posts tagged with "Ponzi scheme"

Tag: Ponzi scheme

MMM founder dies of heart attack

  Founder of the infamous ponzi scheme, Mavrodi Mondial Movement (MMM), Sergei Mavrodi have been reported dead. Mavrodi, 62, was reported to have died of a...

Millions of company’s money invested in MMM; suspect stands his ground...

John Okonkwo, a salesman who allegedly stole his employer’s N3.5m and invested in the Mavrodi Mondial Movement scheme, appeared before an Ojo Magistrates’ Court...

Senate committee vows to expose banks used for MMM

The Senate Committee on Information Communication Technology (ICT) and Cybercrime has vowed to expose commercial banks used to perpetuate the fraud by the Mavro...

MMM Ponzi scheme in a comeback bid

The money making scam, Mavrodi Mundial Moneybox (MMM), that collapsed months ago, has launched a weekly promotional stunt, obviously aimed at wooing old and...

Nigerians lost N11.9Bn to ponzi scheme – CBN

Central Bank of Nigeria (CBN) said that Nigerians lost N11.9 billion to the Ponzi scheme, popularly called Mavrodi Mundial Movement (MMM) in 2016. This is...

MMM: Two agents arraigned for swindling

Few months after the collapse of the Russian online ponzi scheme (MMM), two agents identified as Debora Fojo and Musa Garba were on Friday...

Three million Nigerians lost N18bn to MMM

By ANDREW OJIEZEL The Nigerian Deposit Insurance Corporation (NDIC) has disclosed that three million Nigerians had lost N18 billion in the Mavrodi Mundial Movement Ponzi...

Church sacks pastor for investing in MMM with its account

Omega Fire Ministries has sacked one of its pastors, Joseph Aiyedun for using the ministry's name and bank account to register for the popular...

Pastor Ashimolowo loses $5m to money doubler

Kingsway International Christian Centre, a 12,000-member mega church in Britain headed by Nigeria’s Pastor Mathew Ashimolowo, lost $4.8 million to a Ponzi scheme after...
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