This came barely 24 hours after MMM founder, Sergey Mavrodi wrote an open letter to Nigerian Authorities, criticising the later’s constant attacks on the ponzi scheme many believed to have helped alleviate the economic situations on Nigerians.
Although blogs and news sites have reported that MMM Nigeria site has crashed, many others still believe in the system and that the temporary shutdown is due to overload on the site and urgent maintenance is necessary to protect the interest of participants from the recent threatening from the Nigerian authorities so as to avoid any risk of money lose. Citing an example of what happened to MMM in 1989 in Russia
Moreso, the administrators of the scheme, early Tuesday, announced freezing of participants’ monies for one month.
In a letter posted on the scheme’s website, MMM said; “As usual, in the New Year season, the System is experiencing heavy workload.
“Hence, on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month”, the statement partly reads.
Mavro is the general name used to describe participants’ money in the system.
It added; “The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled. Which we will definitely do.
Urging participants not to panic, MMM said that “the things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but!..
it is better to avoid taking risk.
Moreover, there are almost three weeks left to the New Year.)
By implication, over three million Nigerian participants as claimed by the founder, Mavrodi, who were planning to withdraw their money ahead of the yuletide season will have to wait for one month.
Reports have it that similar scenario had played out in Zimbabwe and South Africa, where participants money were frozen for certain period, pausing the system, only to return with new adjustment in its terms.
Here's the One-Month Freezing of Confirmed Mavros
Dear members!
As usual, in the New Year season the System is experiencing heavy workload. Moreover, it has to deal with the constant frenzy provoked by the authorities in the mass media. The things are still going well; the participants feel calm; everyone gets paid – as you can see, there haven’t been any payment delays or other problems yet – but!.. it is better to avoid taking risk.:-)) (Moreover, there are almost three weeks left to the New Year.)
Hence, on the basis of the above mentioned, from now on all confirmed Mavro will be frozen for a month.
The reason for this measure is evident. We need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled. (Which we will definitely do.:-))
We hope for your understanding,
Administration
