Google Searches for MMM Spike as Ponzi Scheme Suspends Accounts in Nigeria



Google’s Communications and Public Affairs Manager for Anglophone West Africa, Taiwo Kola-Ogunlade, has confirmed that search for MMM became the biggest traffic on the top search engine site after Tuesday, December 13.

On the said day, Nigerians participating in the MMM Ponzi scheme were informed that all confirmed subscriber accounts will be frozen for a month. Since the move is similar to what preceded the collapse of the scheme in Zimbabwe – it later collapsed in South Africa too – some of the Nigerians are panicky.

MMM Global closed its Republic of Bitcoin website which promised up to 100% returns on donations earlier this year saying it was a failed experiment.

According to a post on MMM’s Nigeria website, this suspension was necessitated by the system’s “…need to prevent any problems during the New Year season, and then, when everything calms down, this measure will be cancelled. (Which we will definitely do.:-).”

The post from the administration states that the MMM system is experiencing heavy workload as it usually does in the New Year season – which it says is still almost three weeks away – and “it has to deal with the constant frenzy provoked by the authorities in the mass media” hence “it is better to avoid taking risk.”

A day earlier before the disclaimer, a tweet by MMM which says participants should not “be unnecessarily greedy” raised questions about the return of the scheme. Some reports say the tweet was to forewarn subscribers of the pending suspension.

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