Bank of Ghana has warned Ghanaians to desist from depositing any money with MMM Ghana, saying, the company is operating a Ponzi Scheme and does not even have the required licence to take deposits from people.
According to Bank of Ghana, the operations of the company, MMM Ghana, constitute that of a ponzi scheme through a virtual office “hence anyone who does business with MMM Ghana does so at his or her own risk”.
MMM Ghana promises to give participants of its scheme a 30% interest on deposits, claiming it operates in 118 countries across the globe and has over 226 million participants.