I Will Rob Peter and Pay You, Paul - Everything You Want To Know About This Scam Called MMM
========================================

In 2001, I was a starry eyed University student, who was desirous of making it big in life and becoming rich.

I was looking for businesses opportunities that would make me a lot of money. I tried different things.

In 2003, November to be precise, I stumbled on internet marketing, through Success Digest magazine.

Over the next few years I would try almost everything published in the paper - affiliate marketing, information marketing, Google Adsense, you name it.

In 2006, one particular money-making scheme came up which attracted hordes of fans. That scheme was/is known as HYIP.

What's a HYIP? It's called a High Yield Investment Programme.

Basically how it works is this:

You put in some money, and then every day or week, or month, depending on the particular HYIP website you registered with, you would earn a percentage, maybe 10%, 15%, 20%, 25%, 50% and even 100% again depending on the HYIP site.

It looked so easy. Just put in money and wait for sometime and bam! You get a percentage.

It looked too good to be true but nothing tried, nothing gained, right? So I gathered my school feeding money and bought eGold (remember them?) worth $50 and "invested".

The following week, my money had "grown" to $100. My HYIP company paid 100% of your money every week. My oh my! I was totally sold!

Now to make more money, I needed to reinvest my money which was now $100 which I promptly did. The following week, I had $200.

Gaddem!

So I went round school preaching this stuff. I even preached it far more than the guy who introduced it to me. I got others to "invest" and with each investment they did, I was scheduled to be paid a 10% "commission bonus" for the referral.

I went looking for more money to borrow to invest because my thinking was, if I had gotten $200 with just $50 in two weeks, imagine how much I would get if I invested $500!

The guy who introduced me to it went to his Mum, borrowed her retirement gratuity and invested another =N=500,000, roughly about $5,000 then!

That week he had earned $13,000 including commissions!

Sheet!

I could see my riches coming. My dream cars, my beach house. I prayed to God morning and evening thanking him for remembering me.

It was like a blessing for everyone, and naturally people poured into this scheme.

One day, I got a call from Nonso, the guy who invited me. He sounded desperate, his voice shaky as he asked me if I had checked my HYIP account. I said no.

"What's the problem, I asked?"

"I can't see the money in my account anymore", he said. "My money is gone."

When he said that, I felt my heart sink, my stomach turned and I suddenly felt sick. If I remember correctly, I think I pissed a little hot urine on myself.

"Where are you?" I asked. He was at a cybercafe town, so I jumped into a bus and went to meet him.

As I was logging into my own acount, my mouth was dry but my account opened!

"Ah! Thank God" I said.

Anyways, Nonso had requested for the HYIP company to send him $7,000 out of his $13,000 which was perfectly okay to do. You were allowed to request a payout anytime you want, between Monday - Friday.

However, after he had placed the request, he logged in a few days later, and his balance was no longer there. It had been wiped out. In fact the page that showed your account was no longer opening.

"It must be something wrong with your account I said. Have you emailed them?" He had emailed, but got no reply. Called the numbers on the website, but they were not going through.

So I placed a payout request of $100, and suddenly, my own account balance was wiped out.

Sweat started forming on my brows. I refresh the page again and again, still the same thing. The account balance page was no longer opening.

We went back to school hoping that things would change. It didn't. It took me several days to come to terms with the fact that my $200 abi $50 was gone forever.

Someone in Iran, Russia, Ukraine, only God knows where had taken my money and it was gone.

Nonso's mother's gratuity was gone. All the monies by those I introduced? Gone! I and Nonso became almost like outcasts in the school. Nobody wanted to deal with us anymore as far as business was concerned. We were blamed for the con.

Why am I telling you this story?

Because lately, I have been receiving offers from people to promote a ponzi scheme called MMM.

They tell me it's a business. That it works. That people have been paid money, blah blah blah.

I want to use this piece to write an article and wash my hands off this matter once and for all.

MMM is a ponzi scheme. Simple and short. I have been in business long enough to smell a scam from a thousands miles away, and this one is a big scam.

It's the return of the HYIP days of 2006.

Ponzi scams reinvent themselves every few years, change their name, wear "new clothes" and come out as the newest best thing since sliced bread.

In 2008, they returned as wonder banks - Nospetco, Gradual Investments, etc. In 2010 it was Clickviral. In 2012 - 2013, it was "Oil and Gas Investment" companies. Today it's MMM.

MMM is a scam. It is not a real business.

A real business has A PRODUCT to SELL, a product that adds value to the person buying it. There's an EXCHANGE of value between both sides - the buyer and the seller.

MMM doesn't have that. Rather it "pays" you a "commission" to refer people. Where does it get the money to pay these commissions? For how long can this be sustained?

What product does MMM sell? Why does an "investor" take his money and "gift" it to some stranger, and then wait for someone else to choose him and also "gift" him too?

If you don't get someone to choose you, then you wait and your money "grows"? Grows? How so? With fertilizer? Where will MMM get the money to pay you this percentage from? Will they steal it?

The most alarming thing about this stuff is this mysterious program is based in Russia. Russia? Are you kidding me? Anyone who knows anything knows that Russia is a country full of murderous mobsters who run illegal gambling operations, money laundering and prostitution rings.

They have since forever created similar programs to mop money up, transfers their illegal funds and pay off people to kill their rivals.

Are you unknowingly helping support a Russia mafia boss and putting innocent people in danger while perpetrating money laundering, illegal gambling and prostitution?

I will not be surprised if the EFCC swoops on the people who run these and guess who they will come after? Yes you the big gun who is pushing this everywhere.

And no, you cannot blame Buhari for your misfortune when it happens.

Frankly, it amazes me that people who should be knowledgeable are pimping this MMM stuff.

It's a scam. And it will collapse like all ponzis do. It's just a matter of time. If you really care about your audience and want their good, not just money that will enter your pocket by doing a seminar, then you will NEVER promote that shit.

It speaks volumes about the mentality of the general masses that they always gravitate towards a business "opportunity" that requires, "no work" and no "effort".

NEWSFLASH: The only way to make money is to actually provide something of value to another person in exchange for cash, not to give someone money and then wait for another person to give you.

What nonsense is that?

This is my last say about this MMM and similar cash gifting programs. I do not want any part of it. I do not wish to receive any further enquiry about it from anybody.

And please, next time before you come into my inbox with some frivolous questions about a program, do me and you a favour, fire up Google and do some research about it FIRST.

Thank you.

P.S. Please permission is granted to share this post if you want to.

Blessings.

Written By=> Ikenna Ronald Nzimora (founder, Sell Your Brain Society)

Sorry bout your loss. The experience is yours for life

When you don't have money to provide, stop discouraging other's, OK,?It has change peoples life for real and for good.Its a great decision if you have taking the step to join MMM.

Gentlechinok:
I Will Rob Peter and Pay You, Paul - Everything You Want To Know About This Scam Called MMM
========================================

In 2001, I was a starry eyed University student, who was desirous of making it big in life and becoming rich.

I was looking for businesses opportunities that would make me a lot of money. I tried different things.

In 2003, November to be precise, I stumbled on internet marketing, through Success Digest magazine.

Over the next few years I would try almost everything published in the paper - affiliate marketing, information marketing, Google Adsense, you name it.

In 2006, one particular money-making scheme came up which attracted hordes of fans. That scheme was/is known as HYIP.

What's a HYIP? It's called a High Yield Investment Programme.

Basically how it works is this:

You put in some money, and then every day or week, or month, depending on the particular HYIP website you registered with, you would earn a percentage, maybe 10%, 15%, 20%, 25%, 50% and even 100% again depending on the HYIP site.

It looked so easy. Just put in money and wait for sometime and bam! You get a percentage.

It looked too good to be true but nothing tried, nothing gained, right? So I gathered my school feeding money and bought eGold (remember them?) worth $50 and "invested".

The following week, my money had "grown" to $100. My HYIP company paid 100% of your money every week. My oh my! I was totally sold!

Now to make more money, I needed to reinvest my money which was now $100 which I promptly did. The following week, I had $200.

Gaddem!

So I went round school preaching this stuff. I even preached it far more than the guy who introduced it to me. I got others to "invest" and with each investment they did, I was scheduled to be paid a 10% "commission bonus" for the referral.

I went looking for more money to borrow to invest because my thinking was, if I had gotten $200 with just $50 in two weeks, imagine how much I would get if I invested $500!

The guy who introduced me to it went to his Mum, borrowed her retirement gratuity and invested another =N=500,000, roughly about $5,000 then!

That week he had earned $13,000 including commissions!

Sheet!

I could see my riches coming. My dream cars, my beach house. I prayed to God morning and evening thanking him for remembering me.

It was like a blessing for everyone, and naturally people poured into this scheme.

One day, I got a call from Nonso, the guy who invited me. He sounded desperate, his voice shaky as he asked me if I had checked my HYIP account. I said no.

"What's the problem, I asked?"

"I can't see the money in my account anymore", he said. "My money is gone."

When he said that, I felt my heart sink, my stomach turned and I suddenly felt sick. If I remember correctly, I think I pissed a little hot urine on myself.

"Where are you?" I asked. He was at a cybercafe town, so I jumped into a bus and went to meet him.

As I was logging into my own acount, my mouth was dry but my account opened!

"Ah! Thank God" I said.

Anyways, Nonso had requested for the HYIP company to send him $7,000 out of his $13,000 which was perfectly okay to do. You were allowed to request a payout anytime you want, between Monday - Friday.

However, after he had placed the request, he logged in a few days later, and his balance was no longer there. It had been wiped out. In fact the page that showed your account was no longer opening.

"It must be something wrong with your account I said. Have you emailed them?" He had emailed, but got no reply. Called the numbers on the website, but they were not going through.

So I placed a payout request of $100, and suddenly, my own account balance was wiped out.

Sweat started forming on my brows. I refresh the page again and again, still the same thing. The account balance page was no longer opening.

We went back to school hoping that things would change. It didn't. It took me several days to come to terms with the fact that my $200 abi $50 was gone forever.

Someone in Iran, Russia, Ukraine, only God knows where had taken my money and it was gone.

Nonso's mother's gratuity was gone. All the monies by those I introduced? Gone! I and Nonso became almost like outcasts in the school. Nobody wanted to deal with us anymore as far as business was concerned. We were blamed for the con.

Why am I telling you this story?

Because lately, I have been receiving offers from people to promote a ponzi scheme called MMM.

They tell me it's a business. That it works. That people have been paid money, blah blah blah.

I want to use this piece to write an article and wash my hands off this matter once and for all.

MMM is a ponzi scheme. Simple and short. I have been in business long enough to smell a scam from a thousands miles away, and this one is a big scam.

It's the return of the HYIP days of 2006.

Ponzi scams reinvent themselves every few years, change their name, wear "new clothes" and come out as the newest best thing since sliced bread.

In 2008, they returned as wonder banks - Nospetco, Gradual Investments, etc. In 2010 it was Clickviral. In 2012 - 2013, it was "Oil and Gas Investment" companies. Today it's MMM.

MMM is a scam. It is not a real business.

A real business has A PRODUCT to SELL, a product that adds value to the person buying it. There's an EXCHANGE of value between both sides - the buyer and the seller.

MMM doesn't have that. Rather it "pays" you a "commission" to refer people. Where does it get the money to pay these commissions? For how long can this be sustained?

What product does MMM sell? Why does an "investor" take his money and "gift" it to some stranger, and then wait for someone else to choose him and also "gift" him too?

If you don't get someone to choose you, then you wait and your money "grows"? Grows? How so? With fertilizer? Where will MMM get the money to pay you this percentage from? Will they steal it?

The most alarming thing about this stuff is this mysterious program is based in Russia. Russia? Are you kidding me? Anyone who knows anything knows that Russia is a country full of murderous mobsters who run illegal gambling operations, money laundering and prostitution rings.

They have since forever created similar programs to mop money up, transfers their illegal funds and pay off people to kill their rivals.

Are you unknowingly helping support a Russia mafia boss and putting innocent people in danger while perpetrating money laundering, illegal gambling and prostitution?

I will not be surprised if the EFCC swoops on the people who run these and guess who they will come after? Yes you the big gun who is pushing this everywhere.

And no, you cannot blame Buhari for your misfortune when it happens.

Frankly, it amazes me that people who should be knowledgeable are pimping this MMM stuff.

It's a scam. And it will collapse like all ponzis do. It's just a matter of time. If you really care about your audience and want their good, not just money that will enter your pocket by doing a seminar, then you will NEVER promote that shit.

It speaks volumes about the mentality of the general masses that they always gravitate towards a business "opportunity" that requires, "no work" and no "effort".

NEWSFLASH: The only way to make money is to actually provide something of value to another person in exchange for cash, not to give someone money and then wait for another person to give you.

What nonsense is that?

This is my last say about this MMM and similar cash gifting programs. I do not want any part of it. I do not wish to receive any further enquiry about it from anybody.

And please, next time before you come into my inbox with some frivolous questions about a program, do me and you a favour, fire up Google and do some research about it FIRST.

Thank you.

P.S. Please permission is granted to share this post if you want to.

Blessings.

Written By=> Ikenna Ronald Nzimora (founder, Sell Your Brain Society)

Thank you Op for enlightening us and delivering me from this pitfall. I was going to invest a lot of money into this venture thinking it was real.

Thatsgood555:
When you don't have money to provide, stop discouraging other's, OK,?It has change peoples life for real and for good.Its a great decision if you have taking the step to join MMM.

It is a ponzi scheme, period. People after only money refuse to tell others the truth. Any and every program that doesn't offer value for cash is unsustainable and a confirmed ponzi scheme. Stop deceiving others.

Lalasticlala and other relevant mods should put this on the front page to help save a lot of innocent people.

So many People have invested here in Nigeria and too many are still investing as we are talking including poor University undergraduates.

The thing is spreading like wild fire and no one knows its a time bomb. People have even begun seminars in excitement.

Someone introduced me to this MMM thing just today, but i seriously questioned its authenticity. I dont have a lot of money to waste now.
You can check out www.worldfunfacts.com sha

Pls stop blackmailing a program that is changing people's lives for better, if you have a better network that you are promoting, pls promote it jeje and stop rubbishing other program because of your own.for your information, MMM is not a scam and they are not collecting One Naira from anybody so please stop giving them a bad name because you once have your fingers burnt through your greed.go to their seminars and ask anybody about MMM whether they are collecting money from anybody, we pay to one another bank accounts the system is just there to monitor everything for us.so please find out something very well before you start misinforming others.

Read your story, I must tell you its pathetic and didactic, you have your blame there that is "GREED" .
Be it HYIP or PONZI whatever all you need to succeed in the game and not be like the rest is "WISDOM". Take advantage of them while it last. First invest withdraw your capital avoid greed then invest the interest I bet you could or might make more than you imagined but self discipline must be applied. Am a memeber of all but I apply wisdom.
Don't invest what you can't loose it simple and easy.

The bible said it in Luke 16:31, even if an Angel comes from God they will not believe so don't bother yourself.

When we see them saying ph and gh, we will just be smiling, every time they are checking their makro an seeing some commission oscilating back and front - its all good.

@op..i am not an advertiser for MMM but i have done my research on it......and also the workings of the so called banks/financial system......Your post is confusing because its not based on correct information...You dont fully understand what you are talking about....please kindly do a proper research before coming online you wouldn't know who is reading..Putting your full name!!... (Marketing style abi?)....so cheap...

people please read...do your findings (seek)....information is everywhere....be strong!!!...dont ever conclude...always listen to both parties.....

I've always known Ronald Nzimorah since I'd been reading Success Digest,that is how he has always been doing,rubbishing other people's programs in order to promote his own,please nobody is begging or persuading him/her or anybody for that matter to join MMM,but please let somebody tell him to stop mis-informing others.

MMM Global at one point had from 5 to 40 million Members who lost up to $10 billion. MMM started in 1989, declared bankruptcy in 1997, and Sergei Mavrodi (the Founder) was on the run until his arrest in 2003. In 2007 he was convicted to serve 4 ½ years in Russian Prison. But, within a year of his release, he was at it again. Another year later he froze all pay outs, then started again some months later with similar results. This has been a “rinse and repeat” cycle from 1989 to present. This is the power, deception and replication model of the ponzi world.


My advice before you enter any investment, do your research well and make an informed decision, for me I can never invest in MMM Nigeria, they are red flags I look out for, the information above is all i need to stay clear of it.

All the people talking bad about MMM aren't involved and don't know anything about it,i be been milking this thing for real.
call me :08132345258

will be too glad to put u through.

Ha ha ha ha . You go wound o!

please stop castigating mmm cuz u don't like them

@OP Thanks for this. recently fell for this HYIP scam, Obofunds to be precise.

Do not mind these evil trolls praising mmm program, u will be surprised to know it may be just one person with different funny usernames just trying to discredit this post.

I have repeated it many times on this forum to discourage people because i have lost hard earn money to exact scam like this.

Wish u all well.

.

seighapaul:
[b]They've been lot of controversies and incredible success stories about the brand new and raging MMM scheme. I just want to give my own unbiased review to all these news flying about.

About the founder and the passed alleged scam. I think what really happened was that the first generation of MMM was a scheme designed and operated on PONZI model, where a central account was operated and managed. A ponzi scheme will certainly always crash in either of these two ways; (1) the organisers disappears with all the monies, or (2) the system grows exponentially so large, it collapse in this own weight. I think the latter (second reason) was what happened to the founder of MMM last time.

Majority of Nigerians just engage in lip service, blindly following their leaders, without thinking and researching information. Critics will shout MMM is scam by giving biased evidence of previous schemes that have crashed, but they never critically researched why these schemes crashed. Above, I gave u two major reasons. Now ask yourself this important question; "HAS ANYONE IN NIGERIAN BEEN SCAMMED BY MMM?" I can't speak for anyone, but am yet to hear about a verified scam MMM story in Nigeria.

THE FUTURE OF MMM: Now remember I mentioned MMM was borne from an inherited ponzi scheme that crashed on its own weight years ago. Over the years, I think MMM has continually restructure and improve on service delivery. I believe the selling point of MMM today in Nigeria is the "No central account" policy of the scheme. A central account policy is what makes all MLM (Multi Level Marketing) and ponzi schemes susceptible to fraud or imminent system collapse.

MMM will eventually collapse either in the near or distance future, but it will be unfair for someone to tagged the current trending scheme a SCAM when no one has claimed to be unfairly treated or scammed. Always abide by the safe online business policy of investing what you can afford to loose and also, "enter early and leave early".[/b]

The syndicate behind it knows that having central account will make people raise eyebrow. So they invented a smart strategy.

Now look at how the scam will occur. They will create many user accounts as possible and use it to 'receive help' without giving out( it's their site so they know how to make it look real.) While they take in millions through this method, they will continue to pay participants till the system collapse. The losers will be those who invested and haven't gotten any help.

Mr man you know nothing about MMM and how it works. First, you can't create multiple accounts, you will be banned. Also, you can only receive help to the tune of the help you have given. Also, each participant use their Nigeria bank accounts.Remember your BVN will expose you if you use same account or multiple accounts and you will be blocked.
Some guys on nairaland are just out to destroy and mislead innocent people. Please stop it and be positive, beside nobody is forcing you to join. MMM is real and is here to stay.
[qwuote author=Adinije post=48112952]The syndicate behind it knows that having central account will make people raise eyebrow. So they invented a smart strategy.

Now look at how the scam will occur. They will create many user accounts as possible and use it to 'receive help' without giving out( it's their site so they know how to make it look real.) While they take in millions through this method, they will continue to pay participants till the system collapse. The losers will be those who invested and haven't gotten any help.[/quote]

Adinije:
The syndicate behind it knows that having central account will make people raise eyebrow. So they invented a smart strategy.

Now look at how the scam will occur. They will create many user accounts as possible and use it to 'receive help' without giving out( it's their site so they know how to make it look real.) While they take in millions through this method, they will continue to pay participants till the system collapse. The losers will be those who invested and haven't gotten any help.

D system will definitely collaspe but am sure dt will b next yr BC it is still pretty young, so y nt make some cash while it lasts with an amt u can afford to lose.

Every investor or biz man has always lost money at one point or d other so risk must b taken

NCC and the south Africa government has endorsed free participations of her citizens in MMM. this proves we are invincible
Nothing can stop us

wealth123:
Mr man you know nothing about MMM and how it works. First, you can't create multiple accounts, you will be banned. Also, you can only receive help to the tune of the help you have given. Also, each participant use their Nigeria bank accounts.Remember your BVN will expose you if you use same account or multiple accounts and you will be blocked.
Some guys on nairaland are just out to destroy and mislead innocent people. Please stop it and be positive, beside nobody is forcing you to join. MMM is real and is here to stay.
[qwuote author=Adinije post=48112952]The syndicate behind it knows that having central account will make people raise eyebrow. So they invented a smart strategy.

Now look at how the scam will occur. They will create many user accounts as possible and use it to 'receive help' without giving out( it's their site so they know how to make it look real.) While they take in millions through this method, they will continue to pay participants till the system collapse. The losers will be those who invested and haven't gotten any help.

And who are the moderators that bans accounts? You? don't quote me if you don't understand my post

Nothing actually lasts forever, even the air you breathe is also temporal, The Warnings are there from MMM from the Offset, you choose to partake at your OWN RISK, use thy spare money, do not be GREEDY, Apply Wisdom, am at a stage in MMM where even if it collapses i wont feel a budge because i have used dividends from it to build the structure of another cash inflow. My advice is simple, cash in on it, use whatever proceeds to add value to thy life. Create another pipeline for thy source of income. shikena

Adinije:
The syndicate behind it knows that having central account will make people raise eyebrow. So they invented a smart strategy.

Now look at how the scam will occur. They will create many user accounts as possible and use it to 'receive help' without giving out( it's their site so they know how to make it look real.) While they take in millions through this method, they will continue to pay participants till the system collapse. The losers will be those who invested and haven't gotten any help.

but with BVN you cant operate more than account with different names

so how many real people will they use as dummy account?

how will the money end up in their pocket