The face behind the popular ponzi scheme MMM which has been written off as a scam in Nigeria, has been revealed.
According to reports from Pageone.ng, the face behind MMM Nigeria has been revealed to be one Ernest Chigozie Mbanefo, a South African-based pastor who was once with the Living Faith Church A.K.A Winners Chapel, in Nigeria.
This revelation stems from the fact that Pastor Mbanefo who is the founder/senior pastor of the Justified Youth & Singles Ministry, owns the MMM-Nigeria.net domain, which was registered on June 7, 2016, T17:01:12Z.
The ponzi scheme which reportedly has about 509, 021 members currently, was tracked to Mbanefo, after it was noticed that he made a one-year domain payment (meaning the domain will expire on 2017-06-07).
Mbanefo was issued a 'certificate of completion' from the MMM Academy (signed by the owner, Sergei Mavrodi), for completing his MMM Guiders School, on July 15, 2016.
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Based on information from a site known as news.mmm-nigeria.net, Mbanefo has been hailed as the leader of the ponzi scheme, in Nigeria.
"MMM Nigeria Super Guider; Pastor Ernest Mbanefo, has been selflessly helping thousands of MMM Nigeria Participants whether or not they fall under his downline structure. The brain behind the MMM NIGERIA REVOLUTION operation has been working selflessly and tirelessly towards the education, information and proper guidance for the MMM Nigeria Community."
The website however does not state if he is putting up a front for the founder Mavrodi, or if he has complete claims on the scheme in Nigeria.
Fresh reports have it that although the pastor did not deny being involved in the money doubling scheme, he has categorically stated that he is not the founder of the scheme in Nigeria.
He added also that he has never met with Sergei Mavrodi, the Russian founder of the scheme, before.