With a defrayed public image, MMM Nigeria has now ‘gone moral’.
In the latest post to its members, many of whom have since abandoned the scheme, MMM Nigeria wants them to return bank transfers received by mistake.
This is not only hilarious but an insult to the sensibilities of more than 3 million victims of MMM Nigeria. The Ponzi scheme left behind more than NGN25 billion in financial losses and unknown RoI liabilities.
It gets more insulting when MMM Nigeria said in the post, ‘Steer clear of banks…It’s best to join MMM and receive help from other members.’ For many months since it collapsed last December, MMM refused to pay its investors and many affiliates who canvassed friends and family members into the scam.
Such ‘lines’ also sound very familiar. Before its chicken came home to roost, MMM was in the habit of demonising banks and traditional financial institutions. They are regarded as Western-controlled organisations enslaving people low and behold, MMM is the ‘rescuer’ and or ‘messiah’ that was created to take people out of financial slavery into financial freedom.
For the sake of those who might find the latest moral lesson as a surprise, we have reproduced it below for your reading pleasure:
MMM recommends to avoid taking loans from banks or investing your money in banks — their interest rates are merely extortionate, and you may fail to get out of the red later.
Sometimes a bank may transfer money to a bank card by mistake. Don’t be too happy if it happens to you — the bank will take what belongs to it at any cost.
Don’t spend this money
If the money is transferred by mistake, the bank will surely take it back. If you try to take it, you will fail and make the bank your spiteful enemy. Ignore these funds — just forget about them. You don’t need to do transfer paperwork, log into the online bank, validate transactions with SMS codes, etc. The bank will take this money back on its own.
Attention! If you’re asked to do something to return this money, it’s highly likely you’re being duped. Some conmen send texts to people about the alleged transfer of money to their bank cards on behalf of banks. Then they make a call posing as a victim and telling a story of a mistaken transfer, then asking tearfully to transfer this amount back. It’s a con. If you find yourself in this situation and have your doubts as to whether it’s true or not, recommend this person to contact the bank. The bank will know how to solve this problem the right way.
If you spend the money
If the card holder withdraws the money transferred by mistake, it causes them a lot of trouble:
The bank will call asking to return the money.
The bank will sue the card holder if they don’t return the required amount.
In 99 % of the cases the bank will win the action, while the card holder will also have to pay the legal costs. You can only win the action if you have top-notch lawyers (whose services cost over 10 000 dollars), but even then it happens very rarely.
Steer clear of banks
Nothing good can come out of spending money transferred to you by mistake. It’s best to join MMM and receive help from other members. The Community allows you to earn a good monthly income — the conditions are far better than the ones banks offer, and no one will take your money.