Sequel to the crash of the Mavrodi Mondial Moneybox scheme in Zimbabwe popularly known as MMM, the UK Independent newspaper has warned Africans against investing their money into the Ponzi Scheme.
There are similarities about this scheme in Zimbabwe and Nigeria, as it follows the same model. Both countries are also experiencing an economic crisis and many of its citizens have turned to the MMM Global as a means of livelihood.
An excerpt from The Independent’s article stated;
“That’s despite a warning from the Reserve Bank of Zimbabwe that the scheme was fraudulent. RBZ warned members of the public that existing investors were “paid money not from genuine market investment of their funds, but from contributions made by new investors, until a point when the scheme can no longer attract new investors”.
What it simply means is that the number of people in need of help has outnumbered the number of people joining. Right now we have nowhere to get our money which we invested.”
Despite the cautionary tales of Zimbabwe and South Africa – and indeed the original MM scheme – a branch is now proving increasingly popular in Nigeria.
A quote from a Central Bank official said;
“These people always come with very interesting propositions,” Mr Okoroafor said. “These are fraudsters who are just out there to collect people’s money and run away as soon as they hit their target.”
Nigeria’s Central Bank and the Securities and Exchange Commission have warned Nigerians off the scheme but the promise of 30% Returns has proved too much for most people to resist.
Gbenga Ebitanmi
Tag them o
Am in this and it will run till December even 2019
We shall see.
like I have said and I will always say only the dumb will loose their money to a ponzi scheme if you are smart and do your maths good enough you ve got nothing to loose.
What’s mmm?
MMM is money making machine
Or Mogbe Moku Modaran
Lol
I go laugh some people o
Sit down there dey yan oputu while rmmm is touching poeples life positively
HOW DOES MMM ACCUMULATE THE 30%?
A MILLION DOLLA QUESTION
– Simple answer:
The MMM System calculates the growth in PO and the MMM Participants deposit it to each other.
More Elaborated Answer:
MMM uses what we call Crowd Funding. Ever wondered how Funeral Covers work? What do Insurance use for Life Covers? How can you pay N5000 premium per month and get 1million?
The Answer is really Simple = CROWD FUNDING.
Even the same banks which are against MMM use Crowd Funding.
-Scenario:
1 If we would all claim our life insurance on the same day or week,do you think Insurance Companies would be able to pay us all? HELL NO!!!
2 If we were to withdraw all our money from the banks on the same day,will they afford to pay us all? HELL NO!!!
BUT WHY NOT??
CROWD FUNDING Money Rotates, when others withdraw, others must deposit. Banks, Insurance schemes are all based on Crowd Funding. Money must ROTATE, all the money you deposit into banks and Insurance schemes is used to pay someone else when they withdraw.
MR SERGEY MAVRODI TOOK THE SAME SYSTEM THEY USE AND APPLIED IT IN MMM.
WHAT MAKES MMM DIFFERENT?
MMM does NOT have a central account where all the money is deposited meaning MMM does not collect money as compared to the Banks + Insurance companies. MMM only connects the 1 who need help with the 1 who is ready and willing to provide help. So money moves from 1 participant direct to the other participant’s bank account.
This means no 1 can run away with anyone’s money. Not even the Founder of MMM can run away with yo money. NO CENTRAL BANK ACCOUNT REMEMBER
~Together We Can Change The World_
Mbok, what is MMM?
MMM all the way….
MMM all d way(money making machine)
money making machine
What is their fucking business with MMM? am also benefiting from it….
MMM is real
MMM is real I will ball it till end
Una never tire?? Some are making money, some are hating. Abeg go join MMM and stop telling us about all these yeye warnings
lol, no more news in UK to cover I guess
IF UNA LIKE BRING NEWS FROM BUCKINGHAM PALACE ABOUT MMM. THAT ONE NA UNA BUSINESS!
MMM IS THE ONLY WORKING SYSTEM IN NIGERIA!
OGA JOIN MMM! YOU WONT HAVE THIS TIME TO PUBLISH TRASH!
IF MAVRODI IS A THIEF, why haven’t u guys caught a simple thief all these years???
MAKE UNA HUMBLE YOURSELF JOIN MMM!
GOD BLESS NIGERIA
GOD BLESS Mavrodi
MMM is very real.
One question, is it possible u loose the money u donated? MMM is not an investment it’s a community that helps others by donating. We are donating, we are not investing.
MMM is not investment, it is a community, you lose money in investment, you don’t lose money when you donate it, in this community you donate money, it becomes OUR MONEY, you are then rewarded with Mavros which is like scores/points for contributing to the community….. Look for better news, bag of rice is now 24k,1$=525naira……. This are news I’m expecting from u lazy bloggers not MMM is this and that.
Don’t mind them bro,those bloggers are running out of news,let them go to Sambisa there are many things happening over there.
MMM- Mogbe Mokun Modarun
Uk and Nigeria. Of all the thing to warn us , it is mmm. What is UK take on recession and standard of living in Nigeria?
Mr blogger bear it in your mind many of ur fans are MMM participants, feed us with beta news or we do meeting for u at Yaba hotel and left you online,last warning!!!
Kells Opara
right now I don hear…. llooll
even me self I won dem. but dey turn adamant they no dey listen to advice..
If people that are involved said MMM is real and not an investment but a donation into a community,and 30percent is added n being giving to u on every donation u make,PLS WHO N WHO IS USING D MOVING TO TRADE B4 30PERCENT IS BEEN GIVEN TO SOME1 THAT DONATE WITHIN A OR TWO WEEKS? PLS I WANT TO KNOW? U PROVIDED HELP 2DAY AND ALSO THAT DAY U SENT OR ASK FOR AN HELP TOO? AND THE MONEY HAS NOT EVEN REACH A MONTH AND U GET BACK UR DONATION WITH INTEREST AND YOU ARE SAYING IS NOT AN INVESTMENT?
If people that are involved said MMM is real and not an investment but a donation into a community,and 30percent is added n being giving to u on every donation u make,PLS WHO N WHO IS USING D MOVING TO TRADE B4 30PERCENT IS BEEN GIVEN TO SOME1 THAT DONATE WITHIN A OR TWO WEEKS? PLS I WANT TO KNOW? U PROVIDED HELP 2DAY AND ALSO THAT DAY U SENT OR ASK FOR AN HELP TOO? AND THE MONEY HAS NOT EVEN REACH A MONTH AND U GET BACK UR DONATION WITH INTEREST AND YOU ARE SAYING IS NOT AN INVESTMENT?