Meet Pastor Ernest Mbanefo, The Man Behind MMM Nigeria

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A Nigerian, Pastor Ernest Chigozie Mbanefo is the Man behind the suspected Ponzi scheme known as MMM Nigeria, Pageone report has revealed.

The pastor, based in South Africa named Ernest Mbanefo reportedly registered the site MMM-Nigeria.net domain on June 7, this year.

According to Pageone, Mbanefo, did a single year domain payment which means the domain will expire on June 7, 2017.

It also discovered that MMM Nigeria is not part of MMM Global – a Russian company that was responsible for one of the world’s largest Ponzi schemes in the 1990s.

MMM Global was founded by Russian politician Sergei Mavrodi, his brother Vyacheslav Mavrodi and Olga Melnikova.

In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered.

MMM was reportedly crashed in Zimbabwe recently: Thousands of ‘Mavrodians’ in Zimbabwe were left in tears when the scheme crashed, losing tens of thousands of their lifetime savings.

To share news and information about MMM, Ernest also operates a subdomain ‘news.mmm-nigeria.net. The site praises him and projects him as the leader of the Ponzi scheme in Nigeria.

Hamilton Nwosa
Hamilton Nwosa
Hamilton Nwosa is an experienced, and committed communication, business, administrative, data and research specialist . His deep knowledge of the intersection between communication, business, data, and journalism are quite profound. His passion for professional excellence remains the guiding principle of his work, and in the course of his career spanning sectors such as administration, tourism, business management, communication and journalism, Hamilton has won key awards. He is a delightful writer, researcher and data analyst. He loves team-work, problem-solving, organizational management, communication strategy, and enjoys travelling. He can be reached at: hamilton_68@yahoo.com

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