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Many people in Ghana have lost money by investing in a Russian-backed Ponzi scheme which promises huge profits.
The scheme, the Mavrodi Mondial Movement or MMM, was introduced in Ghana after it was placed on suspension in Nigeria by its administrator.
According to Deutsche Welle, Ghana's financial sector is currently struggling to recover from a major financial crisis involving Ponzi investment schemes.
“Millions of Ghanaians have been denied access to their savings after investing in microfinance companies”.
"Many people are dead and many are on their sick bed because of this money [scandal]. It's not easy for us, Mr. President. Pay our money to us, because the Bank of Ghana is under you," said businessman Haruna Seidu.
The scheme, the Mavrodi Mondial Movement or MMM, was introduced in Ghana after it was placed on suspension in Nigeria by its administrator.
According to Deutsche Welle, Ghana's financial sector is currently struggling to recover from a major financial crisis involving Ponzi investment schemes.
“Millions of Ghanaians have been denied access to their savings after investing in microfinance companies”.
"Many people are dead and many are on their sick bed because of this money [scandal]. It's not easy for us, Mr. President. Pay our money to us, because the Bank of Ghana is under you," said businessman Haruna Seidu.