Everything we do in life is a risk, every member of MMM read knows the risk involve and mmm never said bring all ur life savings, neither is it collecting even the spare from anyone, as I've stated earlier, no old or new member, u must always gv to get, and the only threat on MMM has been govt, we all know that, not even a pause mode or a restart has ever happened, and those media writing people lose money, I wonder where the central account is, and when the creator actually asked participants to pay into his account, banks, media and govt has ever been the threat to St he sweet system.
Of I could afford a big RAM despite the recession in the state due to mmm, leave me and my fellow participants, we know the risk CBN ain't to warn us, it's all written all over the site.

MMM is open and plain, all u need to know is there, so u still taking that bold step to participate, is nobody's business, if u can't take the risk, then remain where u r, and stop criticizing, we r happy with the system, thanks for all ur contribution.

I remain mmm participant

Mmadu111:
you're the wisest right?...sit down and watch revolution sweep at your feet. MMM is not a bank, it's a community of people helping each other. Joining is a choice okay . I was once thinking like you not untill I gave it a trial and saw the working of the system, it's superb, since past 3months I joined I have never regrated anything but regrated not joining early enough and have made cool 4M rewards from mmm since then ....you can chose to remain slave of the banks. Considering the recession Nigeria is facing currently, MMM is the ideal, MMM pays...it rocks, leave it or take it.

bros pls am interested but na ur money I go use test the system first...At the end I will take the 30percent that comes out of ur mony to start mine while u eat the referral bonus and the 20percent initial start up bonus..agreedmy Whatsapp line is 08130149333

[quote author=batero post=49437266][/quote]

Here Is What Happened When Money Stopped Flowing Into MMM South Africa

Nigerians have recently been introduced to the popular MMM scheme. The controversial scheme who most “savvy investors” refer to as either a ponzi or pyramid scheme has garnered a lot of support from those who participate in it. Operators of the scheme in Nigeria have also not been ashamed to defend it vehemently despite the warning of the Security and Exchange Commission (SEC) that it did not recognize such a scheme.

It’s quite easy to understand why a lot of people defend this scheme. Firstly, it is highly profitable and very easy to understand. All you need to do is deposit money into someone’s account and then wait patiently for one more for someone else to deposit money into yours with an interest of about 30% in one month. No investment or business out there can beat such return.

The second reason of course is the fear that it could actually blow up if the media and critics in the social media continue to write negatively about it. This is because the scheme relies heavily on new incomers to sustain so the more circumspect people are to invest, the higher the rate of failure for the scheme which could mean millions of naira lost for early investors.

So what does it look like if this scheme fails? Luckily it is easy to find out. MMM is new in Nigeria but not new in Africa or indeed the world. A trip down to South Africa provides us an idea of what could happen if things go bad and early investors stop coming.

Just a few months ago (March 2016), MMM crashed in South Africa, forcing the scheme to reset. As such, members of the scheme who had invested and were awaiting their returns lost millions of rands. According to this article from a South African Website Fin24. Here is the full article as culled from the website including comments from frustrated investors.

MMM resets system causing panic among members
Cape Town – MMM SA members stand to lose thousands of rands after their accounts were frozen and the mavros points system was reset due to a lack of new money entering the alleged pyramid scheme.

Anonymous leaders of the South African wing of the alleged Russian pyramid scheme blamed “media panic” for the reboot on April 30.

MMM SA told members: “We have to declare a restart and start all over again. We have no choice.”

MMM members have voiced their concern on social media, with one claiming he is set to lose R30 000.

Facebook user BM Abinet said the last time he checked he had 35 798 mavros (which is equivalent to the rand currency), “but now the system says my old mavros is 5 798, so where’s my R30 000?”

MMM SA told members that all mavros from before April 30 were frozen and were now called “old mavros” and that “any operations with them are impossible”.

“With the development of the system, we will send 10% of total input to pay back the ‘old’ mavros.

“According to the experience of other countries, we can definitely say that in the normal course of events all the old mavros debts will be paid off in about six months.”

It said “new mavros (mavros bought from the moment of this announcement) are introduced. You can use them on a common basis to ‘acquire’ and ‘withdraw’ them at any time.”

“We will quickly pay off ‘old’ mavro debts, no doubt about it. You just have to wait.”

The same message was given to another alleged SA pyramid scheme Kipi, which last paid out “dreams” to its members in 2015. The system is very similar to MMM, but instead of “donations”, it uses “dreams”.

Kipi, also known as Mydeposit241, is one of several schemes under investigation by the National Consumer Commission. Others include WorldVentures, Make Believe, NMT Investments, Instant Wealth Club, Sikhese (Pty) Ltd and Wealth Creation Club.

Facebook user NK Njokweni wrote in April 2016: “Talk about Kipi because people are waiting for their money since December.”

MMM SA members are promised between 30% and 40% in returns for paying other people money on request. This donation model has been described as a pyramid scheme by most financial experts and is being investigated by the Directorate for Priority Crime Investigation (Hawks) as such.

It has also being described as a stokvel, which it is not, according to the National Stokvel Association of SA. It is not regulated by the SA Reserve Bank or any other regulator, so members who lose money won’t be able to seek justice.

However, the Hawks has requested the public to report the scheme to the police should they have a complaint. This will assist them in their investigation.

Facebook user EN Zamadlomo said: “What’s up with MMM with inability to pay our money, but want us to provide help how? Is MMM going down?”

Facebook user IO Oluhle said: “Something is not right. What’s going on? Where is our money? My dashboard is wiped clean.”

Facebook user I Maja said: “Mine too is wiped out. MMM systems have been frozen. Is it the end of MMM?”

Facebook user DM Luzitu said: “How am I going to take back my money, what am I going to tell people who get in behind me? Please help me.”

Responding to users querying what had happened to their promised future “donations”, a MMM member said: “To all members who requested ph (provide help) and they did not make any payment, your orders will be automatically cancelled because they are restarting from old mavros to new. So please if your request to ph is cancelled kindly make new ph with same amount or more again.

“We will not gh (get help) for two weeks because of we still updating the system. If you requested any gh and your order is not out yet, may you kindly cancel the requests because you will not be given any order for the next two weeks.

“All this is because of the long queue of gh that was requested after the panic pause caused by media … so now the system is restarting again for the better of our people.

“MMM is not crashing, but we are fixing the system to recover and operate as normal as before.”

In a line that reveals the potential pyramid scheme nature of MMM, the user said: “please recruit, recruit, recruit and ph, ph, ph to help the system to recover quickly”.

http://nairametrics.com/mmm-members-lose-millions-of-rands-as-scheme-crashes/

.

batero:

You have not answered my question bro , you are just busy writing and writing.

You guys always said mmm is not a bank right ?

There is no central account right ?

PLS WHERE IS THE 30% COMING FROM ?

FUNNY PEOPLE

Bank are into forex and lots of business where they generate money so don't compare bank to mmm

Basalt:


You are really a programmer from ur write up.

Abeg I want to ask, can fg block MMM website since it is not hosted In Nigeria.
Can they block their IP ADDRESS from being assesible to Nigerians

FG can not tamper or go near MMM server because it's servers (name servers) are not any where near Nigeria neither can they block our IP access from reaching MMM servers. Stopping us from using MMM is FAR beyond them because it's too late. Who tested HONEY can never accept to test AROMO BETTERS again.

At least the offer better deals than u have ever offered in 50 years!!!

RealProfit01:


FG can not tamper or go near MMM server because it's servers (name servers) are not any where near Nigeria neither can they block our IP access from reaching MMM servers. Stopping us from using MMM is FAR beyond them because it's too late. Who tested HONEY can never accept to test AROMO BETTERS again.

oboi! If Fg wan block am he fit! What are u telling me! It's all about telling them we don't want their service and using location mapping or sth they won't operate! Just like some website that ain't available here!

dmostcheerful:
Come on! Give me a break! The truth is conventional financial institutions have grossly failed us in Nigeria and the regulatory bodies have merely given them a slap on the wrist.

When the Stock market crashed and investors lost their hard earned resources what came of it? Was any one involved in the Stock market scam prosecuted?

When banks went under due to Board/Management unwholesome practises what punitive measures did CBN et all take? Innocent bank customers lost huge sums of money without remedy

Long live MMM

How it works: I get invited, I deposit my hard earned money.70% the money I deposited goes to the person that invited me and the remaining 30% vanishes. I am asked to invite people so that I can get back the money I invested with interest. umm.... but there's just one question I would like to ask [what if I don't invite anybody, how do I get my money back and with the interest I was promised] & [what if the people I invited invested a minute amount of money, how do I make my money back?]

uckennety:


RUBBISH

Have you tried to google IS GOD A SCAM?[/b]
Also try is [b]IS SCHOOL A SCAM?

Wt do u see?

You are technically mad... I'm kidding though..


But you shot him big... Trust me!

kaleeto:


How it works: I get invited, I deposit my hard earned money.70% the money I deposited goes to the person that invited me and the remaining 30% vanishes. I am asked to invite people so that I can get back the money I invested with interest. umm.... but there's just one question I would like to ask [what if I don't invite anybody, how do I get my money back and with the interest I was promised] & [what if the people I invited invested a minute amount of money, how do I make my money back?]

Sir/ma, mmm don't work that way, it's not compulsory to refer people in mmm, you don't pay the person that invited you.
I don't know why you people are so bent in spoiling anything mmm.

what has CBN do to NAIRABET and CO? MMM is a community of people helping one another. wake from all these politics from the rich to keep you as their slave.

TELL ME ANY SUCCESSFUL MAN WHO IS NOT INTO RISK TAKING.

IS A RISK NOT TO TAKE RISK IN LIFE.

WHO TOLD YOU YOUR MONEY IN BANK IS SAFE?

WHAT HAPPENED TO SAVANNAH BANK?

PLEASE LETS FACE OUR BUSINESSES

SMH..Ignorance and uninformed decisions..Well, i am glad we all have FUNDAMENTAL HUMAN RIGHTS..and that includes Freedom of association..

Efewestern:
Seun The rate at which MMM member use this platform to promote there scheme Is alarming,.. Nairaland is home to most Nigerians.. Please try making policy to checkmate These scammers.

The way some people reason is Alarming... I imagine if you own Nairaland, I'm sure you will reserve it for just you and your family alone. I still don't understand why you will post something of this nature when you have not investigate how the system works.im sure you a broke arse.


MMM has helped me in so many ways. Rent, children school fees, set up my business...name it.

MMM is not a scam

Efewestern:
Seun The rate at which MMM member use this platform to promote there scheme Is alarming,.. Nairaland is home to most Nigerians.. Please try making policy to checkmate These scammers.

The way some people reason is Alarming... I imagine if you own Nairaland, im sure you will reserve it for just you and your family alone. I still don't understand why you will post something of this nature when you have not investigate how the system works.im sure you a broke arse.


MMM has helped me in so many ways. Rent, children school fees, set up my business...name it.

MMM is not a scam...its so real!

Efewestern:
Seun The rate at which MMM member use this platform to promote there scheme Is alarming,.. Nairaland is home to most Nigerians.. Please try making policy to checkmate These scammers.

dominique .. pls respond to this. this is your entire job.

Seun:
dominique .. pls respond to this. this is your entire job.

Yes, they try to promote several schemes like MMM and the likes but I take down such posts and topics as soon as I get hold of them.

Shegricho:
Sergey Panteleevich Mavrodi ( Russian: Серге́й Пантелеевич Мавроди; born August 11, 1955) is a Russian criminal and a former deputy of the State Duma. He is the founder of the
МММ series of pyramid schemes . In 2007 Sergei Mavrodi was found guilty in a Russian court of defrauding 10,000 investors out of 110 million rubles ($4.3 million). [1][2][3]
MMM activities
In 1989 he founded MMM . [4][5][6]
He was then elected to the State Duma, [6] thereby obtaining parliamentary immunity. Mavrodi declared MMM bankrupt on December 22, 1997, then disappeared, and was on the run until his arrest in 2003. [7]
In 1998 Mavrodi created Stock Generation , [8][9] allegedly a classic
pyramid scheme presented as a "virtual stock market game". [1] The website ran from 1998 to early 2000. The Massachusetts district court initially found that U.S. Securities and Exchange Commission was unable to cite Stock Generation's founders and owners for securities violations. However, the United States Court of Appeals reversed this decision in 2001, concluding that the SEC alleged sufficient facts to state a triable claim. [10] In 2003 the SEC obtained permanent injunctions against SG Ltd. and relief defendants SG Perfect and SG Trading, which profited from the disbursement of funds fraudulently gained by SG Ltd. [11][12]
On April 28, 2007, a Moscow court sentenced him to four and a half years in a penal colony. The court also fined him 10,000 rubles ($390).
[7]
In January 2011, Mavrodi launched another pyramid scheme called MMM-2011, asking investors to buy so-called Mavro currency units. He frankly described it as a pyramid, adding "It is a naked scheme, nothing more ... People interact with each other and give each other money. For no reason!" [13] Mavrodi said that his goal with MMM-2011 is to destroy the current financial system, which he considers unfair, which would allow something new to take its place. MMM-2011 was able to function openly as Ponzi schemes and financial pyramids are not illegal under Russian law. [14] In May 2012 he froze the operation and announced that there would be no more payouts. [15]
In 2011 he launched a similar scheme in India, called MMM India, again stating clearly that the vehicle is a pyramid.[16] He has also launched MMM in China. [17] He was reported to be trying to expand his operations into Western Europe, Canada, and Latin America. [14] As of September 2015 it had spread rapidly in South Africa with a claimed 1% per day or 30% per month interest rate scheme[18] and warnings from both the
South African and Russian Communist Parties for people not to participate in it. [19]
Book
In 2008 Mavrodi published the book "Temptation". In May 2008, bailiffs arrested Mavrodi's rights to this book. Seven thousand copies of the book were published. [3][20]
References

Source: Wikipedia

How does all this help you? Keep dwelling on negative past, while people are turning their lives around. At least, they have the courage to take a risk that is paying. while you're there busy reading wilkepedia. keep reading. Who wilkepedia Don epp

Seun:
dominique .. pls respond to this. this is your entire job.

Something that's actually benefitting people.

NnaaGuy:


How does all this help you? Keep dwelling on negative past, while people are turning their lives around. At least, they have the courage to take a risk that is paying. while you're there busy reading wilkepedia. keep reading. Who wilkepedia Don epp

Am sorry bro/sis, you are finished.

But if this ain't a scam, why are you all so quick to defend this MMM of a thing?
Am perplexed right now.

cybercares:


The way some people reason is Alarming... I imagine if you own Nairaland, I'm sure you will reserve it for just you and your family alone. I still don't understand why you will post something of this nature when you have not investigate how the system works.im sure you a broke arse.


MMM has helped me in so many ways. Rent, children school fees, set up my business...name it.

MMM is not a scam

@Bolded not Everybody you insult online, You really don't know who i am or what i do for a living.

I dont have time to exchange words with you.. but if my earlier post offends you please Am sorry. Byeeeeeeee..

Seun:
dominique .. pls respond to this. this is your entire job.

Thanks for Response.. Appreciate..

#Peace

Stop telling stupid lies, MMM was never banned in South Africa. It is thriving and very much alive with more than 3 Million participants.

ishiamu:



another registered customers money is what is given as the 30%.... they use another person's money to pay them... the mmm is banned in China, was banned in south Africa too... it's a good scheme while it last.. but wwhen it burst you will see the devil with your eyes

wealth123:
Stop telling stupid lies, MMM was never banned in South Africa. It is thriving and very much alive with more than 3 Million participants.

In 2015 MMM began operating in South Africa with the same business model as MMM-2011, claiming a "30% per month" return through a "social financial network".[3] The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank.[4] In response to mounting criticism and official investigations by state authorities in 2016 supporters of the South African MMM scheme staged a protest march in Johannesburg.[5]

In 2016, MMM launched a website targeting the Nigerian audience.[6]

In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered).

source : wikipaedia

jahsson:


not sure sha... But i believe they trade (stocks) with the money they get from people...

nope. MMM does not get a dime from you. so they dont trade any stock. is just a platform that brings two people to pay themselves. I believe the owners make their cash by charging commission per transaction. peace

Ask yourself how the bank gives u the interest rate they give out. The 30% is got from the Crowd funding from the MMM participants. The donation continues to go in a circular motion, and thus sustains the programme.

NOTE: You must withdraw after 30days so as to profit from the system again.

unclenna:
nope. MMM does not get a dime from you. so they dont trade any stock. is just a platform that brings two people to pay themselves. I believe the owners make their cash by charging commission per transaction. peace

1,000 pips possibility in a week is dependent on market condition-in a ranging market you would expect that much to your own peril.

emexchuks:
Before I was born CBN was there...am now 29yrs...wot has dey don for me. I have been working as a gate man for d past 3rys..and earning peanut as salary. ."modern slavery" I haven't counted 80k before as my money....but In jst 8months wit MMM... am looking at my 2.3million... am so happy something like MMM came to Nigeria... hello people join MMM today and change ur financial status. ..MMM has come to stay in Nigeria. .whether CBN like it or not... thank God MMM does not have central account dat dey can easily freeze. MMM Rocks... The smarter way to provide help on MMM is with Bitcoin..and earn 50% monthly of ur money. MMM the power of unity... join MMM today. ..together we change Nigeria n d world.

bro please hit me up, want some info from u.