Chuddy Ugorji denies ownership of Nigerian Ponzi scheme

Chuddy Ugorji denies widespread reports that he set up the MMM in Nigeria in an open letter.

Chuddy Anayo Ugorji, alleged MMM Nigeria mastermind

On his Facebook account, Ugorji wrote an open letter addressed to his fellow 'Mavrodians' and stated that MMM Nigeria is not his creation. He stated that he is one of the admins of the Ponzi scheme in Nigeria and not one of the creators.

He also allayed the fears of the investors and wrote "Frozen of Mavros does not mean MMM has stopped operations or crashed rather the system has adopted this measure to avoid any mishaps. The support system are working on issues to enhance the effectiveness of the community."

He also stated that he has not been to the Philippines before which was in response to claims that he created the Ponzi scheme in partnership with foreign businessmen.

You can read the entire letter below;

"Goodday great mavrodians

This week has not been easy for all of us due to the news update on our POs.

As we all know, the media has been a tool used by anti-MMMites and pessimists to fight against the growth of MMM Nigeria. Unfortunately, some ignorant Nigerians who don't understand what MMM is all about have been brainwashed by the information broadcasted by the media and social networks

Regarding the frozen mavro.

It is clearly stated on the news section on the website

Confirmed Mavro will be frozen for A MONTH .

The reason for this measure is evident. The system needs to prevent any problems that might arise during this festive season and this measure will be cancelled once the festive season comes to an end

Frozen of mavros does not mean MMM has stopped operations or crashed rather the system has adopted this measure to avoid any mishaps. The support system are working on issues to enhance the effectiveness of the community.

Also let's note that contrary to what has been published by cheap bloggers, Am not the Admin of MMM but one of the top guiders of this great community. And non of us has access to the site, I woke up on Tuesday and saw the News on my PO like every other person,

The MMM website is been managed in Russia by their control and supervisory team .They are responsible for every decision made,like pairing of participants to provide help and get help,resolving issues on the platform etc.

I have always been passionate about tutoring members and guiders about the ideology of MMM , the rules and the risk; I have encouraged members to provide help only with their SPARE MONEY and also get help at the end of 30 days. The reason members have to continue in this pattern of provide help and get help process is to ensure the sustainability of the system, because the platform is a peer to peer system ,members knows that they own the system and pay only to themselves, There is no CENTRAL ACCOUNT.

Regarding getting help,every guider in the MMM community has a limit to withdrawal and I have never made withdrawals above my limit ,rather have always helped to ensure the growth of MMM Nigeria community.

Instead I have given more to the community through charity works and teaching of the ideology of MMM.

Bloggers who get paid for promoting rumour, when ignorant Nigerians click on their blogs , Google Ad sense pays them per click. Hence they seized this opportunity to enrich themselves even when most of them are participants and have taken more from the community ,many of them are involved in uploading Fake Pop's and multiple accounts all in the bid to frustrate the programme of the community and that is part of what is been looked into and it would be stop so that we have a healthy and stronger MMM NIGERIA in 2017

MMM founder is a Russian Sergey Mavrodi not a Philippines .i have never been to 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.

Let's hope the best and STOP the PANIC! We shall overcome by God's grace ."

A few days ago Chuddy Ugorji's wife Chiamaka Chuddy Ugorji wrote an open letter to investors in the Ponzi scheme too.

On December 13, 2016, Pulse published a story based on claims that Chuddy Anayo Ugorji was the mastermind behind MMM in Nigeria.

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