The notorious money making scam outfit, Mavrodi Mundial Moneybox (mmm), which went out of business last year owing to its inability to meet up its obligation, is staging a comeback.
The scheme put up a weekly promotion stunt on its website apparently to entice gullible investors.
The notice encourages participants of the scheme to invite new members. Members must invite new participants and register them as referrals to qualify for the contest.
They have the opportunity to win cash prizes between N30,000 and N500,000, under an exercise the Ponzi scheme masterminds call, “Promo-Task Contest’
Part of the letter reads, “MMM Nigeria launches Promo-Task Contest.
“MMM Nigeria launches the first Promo-Task Contest – which a relevant section has been created for the contest in the Personal Office.
“Winners are selected based on the number of points received for completing promo-tasks. Whoever receives the biggest number of points becomes the winner.
“The contest period is from Monday to Sunday while at the end of each week; winners are announced and awarded Mavros (cash prizes) available for output.
“In the first contest, there are 50 prizes. First place will win N500,000; second place N300,000 and third place winner will take home N200,000.
“Fourth place to 10th place winner get N100,000 each; 11th to 30th place wins N50,000 each while participants who placed 31st to 50th win N30,000 each.
“Members can complete both online and offline tasks with focus to promoting the community and contribute to the growth of the scheme.
“The promo-task contest is a serious tool aimed at community growth, and as such, would be continuously adjusted and refined to enable MMM Nigeria to overcome.”
The Securities and Exchange Commission and the Central bank of Nigeria have in the past warned Nigerians against participating in the scheme which they described as a “Ponzi” scheme.
But such warnings did not stop about 3 million Nigerians from investing in the scheme until they were ultimately duped of millions of Naira when the scheme operators absconded last year.