Man Drinks Insecticide As MMM Freezes Account Two Weeks To Wedding

A man attempted to take his own life by ingesting insecticide after Mavrodi Mondial Moneybox (MMM) froze accounts of participants in the Ponzi scheme, two weeks to his wedding.


The man, identified as Adakole from Benue State had invested N300,000 meant for his wedding in the scheme, according to National Mirror.

Realising that not only was his investment and 30 per cent interest unlikely to accrue to him before the wedding, but he risked losing everything, he opted to commit suicide by consuming insecticide.

The victim is said to be battling for his life at a clinic in Otukpo where the incident occurred.

The friend, who said Adakole had called him to confirm if it was true that the scheme had “crashed” before attempting to take his life, also told Daily Post that he had contacted the fiancée who resided in Abuja.

MMM had on Tuesday announced that it was freezing accounts for one month, a move seen by many as indicating that the scheme had crashed as long expected.

Although those behind the scheme stressed in a notice to participants that it had not crash, many believe it was just masking the fact that it had scammed people as predicted by regulatory authorities.

The scheme had since been declared illegal by the Federal Government.

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