The initiator of the Nigerian faction of the Mavrodi Mondial Moneybox (MMM) ponzi scheme, Chuddy Ugorji has fled the country with his wife, Amaka.
The MMM number one guider has reportedly relocated to Philippines, reports The Cable.
He fled the country when the three million Nigerians who invested in the scheme were anxiously awaiting to be paid back their money with the agreed interest.
Ugorji’s relocation happened after he released new conditions for the payment of investors.
mavro (money) to Mavrodians, the participants of the scheme.
The new guidelines on the website of the scheme included limiting withdrawal to N3 000.
Ugorji allegedly brought MMM into Nigeria in 2015.
Chuddy according to NewsDay was said to be a former member of MMM Global and has made over N5bn since the start of the Ponzi scheme in Nigeria.