MMM boss, wife flee Nigeria
The hope of mavrodians to retrieve their 'investments' and 'profits' from the Mavrodi Mondial Moneybox (MMM) Ponzi scheme continues to dim by the day, as Nigeria's top guider, Chuddy Ugorji, has reportedly fled the country.
It was gathered that Ugorji, left Nigeria with his wife to the Philippines.
He fled the country when many investors were waiting to be paid their money with the accrued interest, the News Agency of Nigeria reported.
Chuddy's relocation came barely 24 hours after he released new conditions for payment of participants.
He had given the impression that the Ponzi scheme had started paying outstanding money to participants of the scheme. But the payment is just symbolic.
Meanwhile, the ponzi scheme issued new guidelines on Wednesday.
It said, 'As a necessary measure, we decided to set limit to withdrawal this week thus the N31,000 maximum withdrawal on your PO.
'We are still committed to prioritise paying smaller amounts first and gradually increase the amount to higher ones. The system does the calculations and knows how to calculate everyone's mavros.
'Between Friday that we opened and today, hundreds of thousands of GH orders have been matched.
More and more GH orders will be matched as time goes on. If you see error notification when trying to GH, just keep trying.
'PH to GH is still a suggestion to be tabled before Sergey Mavrodi for consideration. Disregard any info suggesting that you must PH to GH till further announcement in your PO. Freezing of bonuses for now is another suggestion to be tabled before Sergey Mavrodi for his consideration. Which means if approved, you will only be able to GH your personal contributions for now until the system recovers and stabilises.'