The Brain Behind MMM Nigeria, Mbanefo Unmasked

Must Read

Governors In Nigeria Are Parasites: Babachir Lawal

Babachir Lawal, former secretary to the government of the federation (SGF), says if it was up to him, Nigeria...

Why Buhari Can’t Fire Service Chiefs Now: Boss Mustapha

The Secretary to the Government of the Federation (SGF), Boss Mustapha has explained why President Muhammadu Buhari can't fire...

If Any Chelsea Fan Is Angry At You, It’s Because They Lose To Man Utd: Uche Jombo

Nollywood actress and a proud Manchester United fan, Uche Jombo has stated that her fans shouldn't get angry if...

Amaechi Loses Chief Security Officer

This is definitely not the best of times for the minister for transportation, Rotimi Amaechi as he has lost...

Illiteracy In North Threat To Peace: Emir Of Ķano

Muhammadu Sanusi II, the Emir of Kano has called on leaders in the North to change the education narrative...

mbanefo

A Nigerian, who styled himself as Pastor Ernest Chigozie Mbanefo is the mastermind of the suspected Ponzi scheme known as MMM Nigeria. According to an online report, 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.

Around the world, MMM is feared. In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country and as a fraudulent scheme cannot be registered.

MMM recently crashed in Zimbabwe: Thousands of ‘Mavrodians’ in Zimbabwe were left in tears when the scheme crashed, losing tens of thousands of their lifetime savings.

PageOne gave Mbanefo’s address as 1 Royal Street, Lindberg Park, Johannesburg, South Africa.

According to PageOne, 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.

The site praises him and projects him as the leader of the Ponzi Scheme in Nigeria.

“He is described as: MMM Nigeria Super Guider; Pastor Ernest Mbanefo, has been selflessly helping thousands of MMM Nigeria Participants whether or not they fall under his downline structure.

The brain behind the MMM NIGERIA REVOLUTION operation has been working selflessly and tirelessly towards the education, information and proper guidance for the MMM Nigeria Community’

Source: NAN

 

- Advertisement -
Ad ==> TRUTH FINALLY OUT! Discover how a young Nigerian graduate now makes a consistent 40k per week doing a legitimate online business. You too can start yours now, click here!!!

1 COMMENT

LEAVE A REPLY

Please enter your comment!
Please enter your name here

More Articles Like This

- Advertisement -