The money spinning scheme Mavrodi Mundial Movement also known as MMM might crash between June-July 2017 following fresh investigations by Naij.
Some “experts” in the schemes who spoke with our reporter said the scheme might not last longer than July 2017 following recent developments such as multiple registrations by participants by users within the scheme.
Naij also learnt that some participants have now added fraudulent activities to the scheme as they now upload fake evidence of payment to receivers.
Recently, it was reported that 66 000 Zimbabweans participants were affected when this pyramid scheme crashed.
However, operators of MMM have begun to move against fraudulent activities as the investment can no longer stay more than 30 days in the system.
Over 3 million Nigerians including illiterate and the learned are participants of the now viral money spinning scheme.
As the recession continues to bite hard, youths and middle age adults have resorted to what some call Ponzi schemes as a means of survival despite several warnings issued by the Federal Government, CBN and the EFCC on its dangers.
There also seems to be no end in sight to the recession.
A Nigerian, who styled himself as Pastor Ernest Chigozie Mbanefo was reported to be the mastermind of the money scheme.
Pastor Mbanefo is a South African-based according to Gistsstack News.