chuddy

Lack of sleep has become the condition of some Mavrodians following reports on Social media that top MMM Nigeria Guider is missing in action. Reports claim that top MMM Guider in Nigeria, Chuddy Ugorji, and his wife, Amaka, have fled to the Philippines following the imminent collapse of the Ponzi scheme.

This move came barely 24 hours after he released some stringent conditions for the payment of hundreds of thousands of Nigerian investors.

Meanwhile, the scheme on Wednesday issued new guidelines on its blog. The guidelines include a decision to set limit of withdrawal this week at N31,000 maximum withdrawal. It added that freezing of bonuses is a suggestion that would be tabled before Sergey Mavrodi for his consideration.

Mr. Ugorji had earlier given the impression that the Ponzi scheme had begun paying outstanding mavro (money) to Mavrodians, the participants of the scheme. But, sadly this has yet to become a reality.

The MMM guider who is quite active on social media and is fond of immediately addressing allegations leveled against him on Facebook, has kept mum this time. His last update was posted on January 6 and ever since, he has failed to respond to the heightened fears.

In another related move, his wife has also since deleted all MMM related posts from public view on her Facebook page. Recall that in December, his wife, Amaka, had earlier calmed frayed nerves in a Facebook message she posted assuring MMM participants of the scheme’s return.

Meanwhile this is not the first time that the MMM star guider will be accused of fleeing to the Philippines.

The allegations first surfaced in December and at that point, Chuddy refuted the claims saying – “MMM founder is a Russian Sergey Mavrodi not a Philippine. I have never been to The Philippines; the stories about going to the Philippines are untrue. I stand for the true ideology of MMM which is anchored on providing and getting help willingly.”

MMM, which before suspending operation on December 14 had over three million participants in the country, made inroads into the Nigerian investment market in 2015. MMM’s decision to suspend the accounts of its patrons in 2016 threw millions of Nigerians into anguish.

When the Ponzi scheme returned on January 13, it encouraged its members to use bitcoin for transactions. So far Nigerian officials have warned against use of bitcoin and also participation in Ponzi schemes like the MMM.

Advertisements