MMM Founder, Sergey Mavrodi has allegedly written an open letter to the Federal Government of Nigeria explaining the benefits of the scheme.
The letter was displayed on the page of all participants of the Scheme.
Recall the the Securities and Exchange Commission (SEC) and the Central Bank of Nigeria (CBN) had warned Nigerians against participating in the scheme which it described as a “Ponzi Scheme”.
The House of Representatives in October also ordered an investigation into the operation of the scheme.
According to the letter, Mavrodi
implored the government to look at the benefits of the scheme rather
than be against it without knowing how it was helping Nigerians.
implored the government to look at the benefits of the scheme rather
than be against it without knowing how it was helping Nigerians.
He insisted that if the government was
really interested in the welfare of the Nigerian participant, then the
scheme should be left alone arguing that MMM was helping the over 3
million Nigerian participants.
really interested in the welfare of the Nigerian participant, then the
scheme should be left alone arguing that MMM was helping the over 3
million Nigerian participants.
Read below the full script of the letter:
Open Letter from Sergey Mavrodi to the Nigerian AuthoritiesHonorable authorities,So far MMM has come under a constant
attack from you. In this regard, I would like to ask you a few simple
questions. Since you are concerned with the interests of millions of
your fellow citizens, I hope that you would be so kind to answer them.
- What are you trying to get? Do you want the MMM System to
collapse and millions of people to suffer? Who will support them then if
now MMM is their only means of livelihood? Will you? You even don’t pay
wages to people? Or might you not care about them? Might you be using a
trendy topic to make a good name for yourselves? What will you say to a
mother who will have no money to buy food for her child? Will you let
her child die for the sake of the higher interests of the economy?- You say that MMM is a scam. What is the scam here, if all
members are warned in advance about all the risks, the possible and
impossible ones? They know there are no investments at all. The warning
is a red text on a yellow background placed on most prominent place of
the website.- You say that MMM is bad. Why? Yes, it produces nothing, but
nothing gets out of the country either. The money is just redistributed
among the citizens of Nigeria. It gets from those who are richer to
poorer ones, in this way restoring social justice. What”s wrong with
that?- You have repeatedly stated that “it should be investigated!..
researched!..” It means you know nothing about this System yet; you even
haven’t understood how it works………- And finally. If you know what is right for people, why is the life so bad in the country?
Sincerely yours,Sergey MavrodiP.S. As for your statement that
“everything will collapse soon”. The system has been working in Nigeria
for a year, and according to your estimates, the total number of members
now is about 3 million people. In Nigeria the population is
approximately 195 million. Can you calculate? Will it be “soon”? :-))
