MMM Nigeria top guilder Chuddy and wife flee Nigeria to Philippines

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MMM Nigeria top guilder Chuddy and wife flee Nigeria to Philippines

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The hope mavrodians have of retrieving their ‘investments’ and ‘profits’ from the Mavrodi Mondial Moneybox (MMM) Ponzi scheme continues to dim by the day, as Nigeria’s top guider, Chuddy Ugorji, has reportedly fled the country.

It was gathered that Ugorji, left Nigeria with his wife to the Philippines. He fled the country when many investors were waiting to be paid their money with the accrued interest, the News Agency of Nigeria reported.

Chuddy’s relocation came barely 24 hours after he released new conditions for payment of participants. He had given the impression that the Ponzi scheme had started paying outstanding money to participants of the scheme, but it’s not totally true.

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Matthias Nkuda Recent comment authors
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Matthias Nkuda
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Matthias Nkuda

In any business either big or small, there is inherent risk. Insurers would advise that as a business person you take insurable or calculable risk. David McClleland, a management expert and theorist, urges that business people or entrepreneurs should assume only moderate risk. From all indications, the MMM saga defies this logic in all its ramifications abinitio. I for one, I have no sympathy for whoever gets his or her hands burnt. Cheers.