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Tag "Ponzi scheme"

EFCC arrests ponzi scheme operator who ‘defrauded Nigerians of N7bn’

    EFCC arrests ponzi scheme operator who ‘defrauded Nigerians of N7bn’

The Economic and Financial Crimes Commission (EFCC) has arrested Babagana Dalori, chief executive officer of Galaxy Transportation and Construction Services Limited, for allegedly defrauding Nigerians through a ponzi scheme. The

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End of a famous ponzi scheme — MMM announces ‘irreversible’ closure

    End of a famous ponzi scheme — MMM announces ‘irreversible’ closure

The Mavrodi Mondial Movement (MMM) ponzi scheme has announced that it is shutting down — for good. The scheme said on its website that the closure is as a result

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Again, MMM leaves Nigerians stranded, goes on ‘restart’ mode

    Again, MMM leaves Nigerians stranded, goes on ‘restart’ mode

Controversial Ponzi scheme MMM has announced a “restart”, leaving over three million Nigerians who participated in the scheme stranded. In a message posted on its participants’ website on Saturday, the scheme

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Ashimolowo: I didn’t invest $5m in Ponzi scheme, my church did

    Ashimolowo: I didn’t invest $5m in Ponzi scheme, my church did

Matthew Ashimolowo, senior pastor of Kingsway International Christian Centre (KICC), says the former trustees of his church, not him, made the decision to invest $5 million dollars, which was lost

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‘Let’s postpone Christmas and New Year’ and other Twitter reactions to MMM freeze

  ‘Let’s postpone Christmas and New Year’ and other Twitter reactions to MMM freeze

Since online Ponzi scheme, MMM, announced on Tuesday that it was freezing the accounts of its members for one month,

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MMM founder writes Buhari, says ‘you know nothing about our system’

  MMM founder writes Buhari, says ‘you know nothing about our system’

Sergey Mavrodi, founder of MMM, has written an open letter to the Nigerian government to justify the importance of the

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