Outrage continued to pour in yesterday from participants of the Mavrodi Mondial Moneybox (MMM) Ponzi scheme, in Umuahia, Abia State capital following the suspension of their accounts by the operators of the scheme.
Residents of Umuahia have invested heavily in the ‘money doubling scheme’ as they see it as a miraculous means of cushioning the effect of the biting economic recession.
There is panic among residents as the participants count their losses should the scheme eventually collapse.
Our correspondent gathered that a certain man who was given N2 million by his brother living abroad for the renovation of their family house at the World Bank Housing estate in Umuahia invested the entire sum in MMM.
The investment, according to report is to mature by the end of December but the temporary closure of the accounts of participants has raised suspicion that the money may have been lost.
One of the victims, a journalist who pleaded for anonymity said the promoters of the scheme are wicked to have suspended the accounts of participants “at this time of the year”.
According to him, a lot of people who invested in the scheme have targeted to get their claims for Christmas expenses.
He argued that the promoters should have been humane enough to at least pay half of the claims instead of unilaterally suspending operations without any pre- notice to participants.
“If they have financial problem they should have given investors half payment instead of just closing down peoples’ accounts.
“I had targeted to make my claims for Christmas expenses. I invested N100,000 before and got N145,000. So, I did for my mother in-law, my three children and my wife did for my sister- in-law. I invested heavily in the scheme.
“This people are not sincere; they are not considerate. How can they just wake up and close peoples’ accounts without warning? A lot of people have targeted to use the money for Christmas exigencies.
“I have a project for this Christmas. I invested N100,000 which should mature by December 15 but now everything is gone,” he lamented.
Another female journalist who said she invested over N300,000 was too shocked to express her feeling about the development.
She just prayed that the scheme would be revived by January as they had promised, swearing to keep her distance from the scheme as soon as she collects her outstanding claims.