Ponzi scheme launches in Kenya, promises better returns

The notorious Ponzi scheme

The website www.kenya-mmm.net has gone live and the domain name was created on Friday, August 12, 2016.

MMM Kenya promises better returns for investors in the Ponzi scheme. In Nigeria and South Africa, MMM promised a 30% return for people who participated in the pyramid scheme. MMM Kenya promises 40% returns. "40%" was written boldly and clearly on the website.

MMM Kenya domain's name was registered in 133, Sakura House in Tokyo, Japan. The registrant's name is Anonymous Speech.

MMM Kenya already has a Facebook account and YouTube account. Kenyans are already trooping to sign up for the Ponzi scheme. There are already hundreds of testimonies and presentations on the YouTube channel.

The Ponzi scheme has already crashed in South Africa and Zimbabwe. On Tuesday, December 13, 2016, MMM announced it was freezing operations this month and promised to normalise operations in January 2017.

This week, the founder of the controversial Ponzi scheme, MMM, Sergey Mavrodi reportedly wrote an open letter to the Nigerian government.

In his letter titled 'Open Letter from Sergey Mavrodi to the Nigerian Authorities', the Ponzi scheme founder said MMM is meant to restore social justice as it redistributes wealth from rich Nigerians to poor Nigerians.

He asked the government why they want MMM to fail, and noted that the failure of the scheme would bring more hardship to Nigerians who are already suffering. He accused the Nigerian government of trying to look good by calling MMM a scam.

In a live poll by Pulse Nigeria on Thursday, December 1, 2016, Nigerians said that popular Ponzi scheme MMM has better interest for them than the Central Bank of Nigeria.