Founder of MMM, Sergey Mavrodi has written an open letter to the Federal Government explaining how the ponzi scheme works.
The letter which was displayed on the page of all participants said the Nigerian government was not providing for its citizens but keeps attacking a scheme which has been helping Nigerians.
Mavrodi said participants were already informed of the risks, stating that the government was ignorant of how the scheme works.
Mavrodi in his letter claimed about 3 million Nigerians are involved in the scheme while stating that it distributes money from the rich to the poor, thereby restoring social justice.
Read the full letter below;
Open Letter from Sergey Mavrodi to the Nigerian 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?
P.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”? :-))
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