The initaitor of ponzi scheme MMM Nigeria, Chuddy Ugorji has fled the country with his wife, Amaka, TheCable reports.
According to the news platform, the MMM number one guider has fled to Philippines.
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The scheme had been unstable after it resumed operations following its decision to freeze investors’ accounts for a month last year December.
The scheme had released new conditions in January, including a withdrawal limit of N31,000.
Few participants also got paid while the majority of investors are yet to receive their profit and bonuses.
“As a necessary measure, we decided to set limit to withdrawal this week thus the N31000 maximum withdrawal on your PO,” a statement on MMM website had read.
“We are still committed to 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 (get help) 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 (provide help) 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.”
Ugorji had denied being the founder of the scheme but had admitted he introduced it into Nigeria.
The scheme also claimed it has over 3 million participants.
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