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MMM Nigeria Woman commits suicide after taking loans to invest in Ponzi

A woman who borrowed a huge sum of money from different banks to invest in the MMM scheme has committed suicide following its crash.

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MMM Nigeria


A 34-year-old woman identified as Gloria Samson, has allegedly committed suicide after she lost a huge sum of money in the now controversial Ponzi scheme, Mavrondi Mundial Moneybox, popularly called MMM.

According to a Facebook user, who posted the sad incident on his page, the Benue State-born mother of two had taken a huge loan from local micro-finance banks and invested all in the MMM scheme hoping to make a huge profit from it.

ALSO READ: “MMM Nigeria: ‘I wanted to kill myself after losing N750K’ - Man who attempted suicide over Ponzi scheme

But shortly after putting in the money, the Ponzi accounts were frozen in December 2016, prompting many speculations as to whether it would come up again.

It was gathered that Samson had earlier attempted to kill herself on December 28, 2016, but was rescued by good Samaritans.

But early in January 2017, she allegedly left home and went to the River Benue in Makurdi, where she drowned herself. Her body was later recovered by the police a few days later.

It was gathered that before leaving her home on the day of her suicide, Samson was said to have pleaded with her young children to forgive her and at the same time, told the children to tell their father to forgive her as well.

The deceased’s neighbours at her husband’s residence on Vandeikiya Street, High Level, Makurdi, disclosed that Samson had borrowed about N400,000 from different microfinance banks and invested it in the MMM scheme only for it to announce a freeze on cashing out a few days after her investment.

One of the neighbours said:

“What we gathered is that she had borrowed money from four different places and invested in MMM but shortly after, MMM suspended payment to subscribers. Since then, she withdrew to her shell.”

The deceased’s husband, Samson David, also confirmed the fate that befell his wife but said he was unaware that loans she took loans from the banks were to invest in the Ponzi scheme.

“Towards November and December 2016, I discovered she took loans from four places over N400, 000, but I did not know what she actually did with the money because this time, there was nothing in her shop to suggest that she invested the money into her business.”

ALSO READ: “MMM Nigeria: Frustrated participant vows to kill operators”

The State Police Public Relations Officer (PPRO) ASP Moses Yamu, has confirmed the incident, saying that the woman’s body was recovered from the River Benue by the police and that she has been buried by her family.

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