MMM Nigeria Initiator, Chuddy Ugorji, Wife Flee Abroad As Scheme Nears Collapse

Mr. Chuddy Ugorji, the initiator of the Nigerian faction of the Mavrodi Mondial Moneybox Ponzi Scheme (MMM) has fled the country along with his wife, Amaka.

Unconfirmed report said the MMM number one guider has absconded and relocated to the Philippines.

He fled the country when many investors were awaiting anxiously to be paid the money they invested with the agreed interest.

Ugorji’s relocation came barely 24 hours after he released new condition for the payment of some three million Nigerian investors.

He had given the impression that the ponzi scheme had started paying outstanding mavro (money) to Mavrodians, the participants of the scheme but the payment turned out as just symbolic.

The Cable reported a participant, Kolade Ogunwande, who manages a number of accounts, that N17,000 was paid into one of the accounts he handled for a friend.

“One of the accounts I manage for a friend finally got paid. She invested N20,000 on November 10, 2016, and her money has appreciated to N35,000,” he said.

“When MMM resumed last week, she said I should withdraw all the money for her, which I requested for immediately. She was paired the day after.

“The two people she was paired with had to pay N17,000 and N18,000 to make up the N35,000, but only one person has paid,” he said.

Meanwhile, the scheme on Wednesday issued new guidelines on its blog.

The guidelines are:

1. As a necessary measure, we decided to set limit to withdrawal this week thus the N31,000 maximum withdrawal on your PO

2. We are still committed to prioritise paying smaller amounts first and gradually increase the amount to higher ones;

3. The system does the calculations and knows how to calculate everyone’s mavros;

4. Between Friday that we opened and today, hundreds of thousands of GH orders have been matched; and

5. More and more GH orders will be matched as time goes on. If you see error notification when trying to GH, just keep trying.

6. 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.

7. 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 stabilizes.

Others are: Another suggestion for consideration is whether Mavro growth should stop on the 30th day or continue till you GH your confirmed PH. How early the system recovers depends on our positivity. If we work to make it recover, it will recover in a very short time.

Don’t spread panic; Let’s do more promo tasks to create further awareness that MMM Nigeria is open, working and paying; We will keep you informed of any updates as soon as possible.

(NAN)