Exclusive Report: MMM Nigeria to crash in July 2017 – Here’s is the untold story about the Ponzi Scheme [A Must Read]

MMM and charity

While almost everyone has described the MMM scheme as a fraud, the community recently gave back to the society in Nigeria during its one year anniversary.

In Abuja, the participants donated N5 million to IDPs in Maiduguri, Borno state. In Ibadan the participants donated over N3 million to hospital patients. The participants also organized an anniversary dinner for themselves.

In Port Harcourt, the participants also organized a get together which was attended by music star, Iyanya.

Other Ponzi schemes in town

While MMM is the talk of the town right now, other Ponzi schemes are fast emerging even though they are not as widely known as MMM.

Ultimate Cycler, iCharity are one of the babies in town.

For instance, here is how Ultimate Cycler works. You sign up by and pay N12,500 to a fellow member you registered under (upline). When your donation has been confirmed, the system puts four people under you who will pay you N12,500 totaling N50,000.

When you have four people under you, Ultimate Cycler bumps you up to the second level. At this stage, you will pay N25,000 from your N50,000 largesse to a grade 2 member.

After this, the system will put 16 people under you who will pay you N25,000. At this stage too, your grand total will be N400,000.

For iCharity, this is how it works: iCharity is “member to member” Ponzi scheme. Rather than pay money into a system that now determines who your money goes to, you pay directly to members in need of money.

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