nitiresources:


No one will lose money until it crashes dear. And on your statement about warning on the site, you and I know that only greedy and ignorant people invest in Ponzi schemes and this being the case they will keep increasing their investment until their greed catches up with them. Good luck to you guys.

no one has said it better than U have sir ...(they will keep increasing their investment until their greed catches up with them) This is the major reason so many ppl will cry when the scheme goes down as i know a lot of MMM participants but trust me their amount of PH is ever increasing.
Even the proponents of the MMM scheme stated that all that is required for the scheme to continue is by a participant putting back even only the 30% gained and everybody is safe... but alas our pple no gree thats y the number of pple currently on queue to PH is overwhleming. As it is now sef u can even make a pledge to PH and ur money would still be with u for up till 26days without being matched with anybody.

Anyways weda it closes now or next year.... I believe the smart 1s wud af made their gain.

Toks2008:


MMM will be in operation for ever if people are encouraged to mandatorily refer new people but that policy of "you don't have to refer anyone" will crash it.

The reason is because most people are into it to get profit not really help the business.

I also have the mindset. After all, Mavrodi self dey make money from it.

Another Problem is the government. They will never support it. Well, they have 100% influence over the people as the judge what is right or not.

Lilimax:
Why? We the MMM members knows that one day it'll crash but for now let's enjoy the offer...

you seem to have invested and is consoling yourself.

Any graduate on that scheme.. who did arithmetic progression or fibonachi and still invested should be shot in the forehead.

You should know it's an unlimited scheme with old request neing fueled by new ones. Money is finite and not unlimited and it would get to a point where all the requested amount cannont be satisfied by those investing.

ozimec:

Lol. Honestly, if I see any company that can pay me 3O% of interest every month just because I offered help, I will quit my job.

That company does not exist. Simple. A time will come when you need help and there's nobody to provide help in this MMM. What do you do then?

From #wikipedia
МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s.[1][2] By different estimates from 5 to 40 million people lost up to $10 billion. The exact figures are not known even to the founders.

Contents

1 History
2 See also
3 References
4 External links

History

MMM was established in 1989 by Sergei Mavrodi,[2] his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken from the first letters of the three founders' surnames.

Initially, the company imported computers and office equipment. In January 1992, tax police accused MMM of tax evasion, leading to the collapse of MMM-bank, and causing the company to have difficulty obtaining financing to support its operations. Faced with difficulties in funding its foreign trade, the company switched to the financial sector. It offered American stocks to Russian investors, but met with little success. Later, MMM-Invest was created for the purpose of collecting vouchers during privatisation. This effort was similarly unsuccessful.[citation needed]

MMM created its successful Ponzi scheme in 1994. The company started attracting money from private investors, promising annual returns of up to one thousand percent. It is unclear whether a Ponzi scheme was Mavrodi's initial intention, inasmuch as such extravagant returns might have been possible during the Russian hyperinflation in such commerce as import-export.[citation needed]

MMM grew rapidly. In February 1994, the company reported dividends of 1,000%, and started an aggressive TV ad campaign. Since the shares were not quoted on any stock exchange and the company itself determined the share price, it maintained a steady price growth of thousands of percent annually, leading the public to believe its shares were a safe and profitable investment.[citation needed]

An important factor in the scheme's success was word of mouth, but most of the company's success came from its extremely aggressive ad campaign, which appealed to the general public by using "ordinary" characters that viewers could identify with. The most famous of them, a "folk hero" of early 1994, was Lyonya Golubkov. Another notable marketing effort was a giveaway of free Metro trips to all Moscow citizens on a particular day. MMM also was one of the first well-known companies in Russia with a logotype and slogans ("Flying from shadow to the light" and others).[citation needed]

At its peak the company was taking in more than 100 billion rubles (about 50 million USD) each day from the sale of its shares to the public. Thus, the cashflow turnover at the MMM central office in Moscow was so high that it could not be estimated. The management started to count money in roomfuls (1 roomful of money, 2 roomfuls of money, etc.).[citation needed]

Regular publication in the media of the rising MMM share price led President Boris Yeltsin to issue a decree in June 1994 prohibiting financial institutions from publicising their expected income.[citation needed]

The success of MMM in attracting investors led to the creation of other similar companies, including Tibet, Chara, Khoper-Invest, Selenga, Telemarket, and Germes. All of these companies were characterised by aggressive television advertising and extremely high promised rates of return. One company promised annual returns of 30,000%.[citation needed]

On July 22, 1994, the police closed the offices of MMM for tax evasion. For a few days the company attempted to continue the scheme, but soon ceased operations. At that point, Invest-Consulting, one of the company's subsidiaries, owed more than 50 billion rubles in taxes (USD 26 million), and MMM itself owed between 100 billion and 3 trillion rubles to the investors (from USD 50 million to USD 1.5 billion). In the aftermath at least 50 investors, having lost all of their money, committed suicide.[citation needed]

Several organisations of "deceived investors" made efforts to recover their lost investments, but Sergei Mavrodi manipulated their indignation and directed it at the government. In August 1994 Mavrodi was arrested for tax evasion. However, he was soon elected to the Russian State Duma, with the support of the "deceived investors". He argued that the government, not MMM, was responsible for people losing their money, and promised to initiate a pay-back program. The amount ultimately paid back was minuscule compared to the amount owed.[citation needed]

In October 1995, the Duma cancelled Mavrodi's right to immunity as a deputy. In 1996, he tried to run for Russia's presidency, but most of the signatures he received were rejected. MMM declared bankruptcy on September 22, 1997.[citation needed]

While it was believed that Sergei Mavrodi left Russia and moved to the United States, it is possible that he stayed in Moscow, using his money to change apartments regularly and employ a group of former special agents. With the help of a distant relative he started Stock Generation Ltd., another pyramid scheme based around trading non-existent companies' stocks in a form of the "stock exchange game" on the company's site, stockgeneration.com. Despite a bold-letter warning on the main page that the site was not a real stock exchange, between 20,000 and 275,000 people, according to various estimates, fell for the promised 200% returns and lost their money. According to U.S. Securities and Exchange Commission, losses of victims were at least USD 5.5 million.[citation needed]

Mavrodi was found and arrested in 2003. While in custody, Mavrodi was given until January 31, 2006 to read the documents in his fraud case against him (The criminal case consisted of 650 volumes, each 250-270 pages long).[citation needed] At the end of April 2007, Mavrodi was convicted of fraud, and given a sentence of four and a half years. Since he had already spent over four years in custody, he was released less than a month later, on May 22, 2007.[citation needed] He later went on to creating yet another pyramid scheme called MMM-2011.

The MMM scandal led to increased regulation of the Russian stock market, but the legacy of the fraud led many to become extremely suspicious of any joint stock companies.

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)
https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)/

MadCow1:
I am online and can't find anything to this effect...



All I can see is that the value of the Mavro changed due to the shiity nature of the Zimbabwean currency.

Where exactly are you searching online? Coz it's everywhere.
http://www.google.com.ng/search?site=&source=hp&ei=BAPpV_iAOcStsgHMz7TgAw&q=MMM+crashes+in+Zimbabwe+&oq=MMM+crashes+in+Zimbabwe+&gs_l=mobile-gws-hp.12.3913.19299.0.24736.21.20.0.1.1.0.1613.9786.2-3j4j5j5j1j0j1.19.0.0.1c.1.64.mobile-gws-hp.3.13.6149.3.0j41j0i131k1j0i10k1j0i22i30k1.TlHMZXhcBoY

LBM COMES TO MY MIND WHERE EVER I SEE MMM.

agarawu23:
I am yet to fall

fall like a mangoe tree

The way LadyF Fell for skrill funds!

Whether we like it or not it will one day crash in Nigeria. We all saw what happened to liberty reserve. We woke up one morning to discover our money in lr has gone

DanielGb:


explain more Sir,
maybe this will work.

This is not maybe but it works.

I have my integrity to protect and heaven forbid I promote what will not work.

I finished service in 1998 and while looking for a job I joined GNLD but the stress was too much so one day in the bus I met an elderly lady from Ghana who told me that the stress of marketing GNLD will wear me out so she introduced the global coperative system to me and I got the drift at once.

This is not a ponzi or make money quick program and in fact your participation us for free as soon as you refer 3 people who will also donate...

It is a superb system that allows people to help each other financially.

You help people with 54€ voluntarily WITHOUT EXPECTING ANYTHING IN RETURN....meaning you are joining with the heart of a giver.

At this point if you like you can go to sleep but trust me..you will only get your reward from above as a giver.

But if you really want to benefit immensely you will have to refer at least one person to also donate 54€ and for every person you refer to donate you will earn 18€ meaning by the time you refer 3 people to donate, your full donated sum of 54€ is back into your pocket meaning your participation is now free .

The next thing is to expect deposits of 3€ and 10€ deposited into your bank account at 500naira to 1€.

The system works on a true, tested and trusted network principle so if you believe you can't refer at least one person please stay clear.

It costs N27,000 as 1€ is pegged at N500.

And as I wrote, your full 27k is immediately back into your pocket after you refer 3 people from any part of the world.

Nairaland is purely anti-mmm right from day one so am not surprised. Mods am available to be banned but I have to say the truth. Someone is sponsoring media attacks against mmm. You should get to find out why it was restarted and not crash. Anyway mmm is booming and I don't think many nigerians are interested in what the media like nairaland is saying. Everybody to his own but know that by December the situation of this country will be so terrible that people will kill their fellow man and eat

x240:


you seem to have invested and is consoling yourself.

Any graduate on that scheme.. who did arithmetic progression or fibonachi and still invested should be shot in the forehead.

You should know it's an unlimited scheme with old request neing fueled by new ones. Money is finite and not unlimited and it would get to a point where all the requested amount cannont be satisfied by those investing.

Hope ur Fibonacci don buy u brand new car dis year becos if not u should be shot it the fore head for spewing out somtin DAT isn't profitable to ur life

chronique:
In 2008,I did "getaway" and they got away with my money. That was the era of clubfreedom,getaway and cashdamond. Since then,I adviced myself not to ever get involved with stuffs like this. I've adviced people about this MMM but they won't listen. Stupidity is actually a chronic disease. Most people prefer to learn from their experience rather than from other people's experiences.

Instead of you to make you gateway lose from MMM u stil dey dia dey vex...MMM is not gateway and its still pays
Urgently register

stuntman007:


My brother don't mind Nigerians. Illiteracy is just our problem. If not, why is it that only wealthy Nigerians who are educated only knows about T bill investment and other offshore investment that yields high returns or coupons? instead my blind citizens will will rather put their life savings to something that will eventually make them weep.

Good example of why the rich keep getting rich and the poor keep getting poorer (Lack of information).

This MMM of a thing is not just in my mind,right from the onset my spirit is against it...Bro,pls can you give me more info on the T Bill stuff you talk about..Am really interested in investing..Await your quick response..

francx:
OK bros stay dere and be doing wen ur mates mavro still dey grow. Beta find out how to join and grow urs too. By d way wat was ur score in maths wen u wrote WAEC

U have right to your own opinion...state urs and dnt use mine as reference...u do not need to stress ur point, if u have funds in there...and u have confidence in it, continue, u need not preach to me...

altitudee:
I invested N20k last month and i got N35k this month...abeg i don gain...the life we live is all about risks....MMM provide the warning at the top of thier website "put the money u can let go of"...
by God grace i will provide 20k again next week and wait for my 35k. if it crash before then....all is risks

Why don't you put the 15K profit back into it rather than potentially losing 5k of your initial capital?

I said it before in Nairaland that MMM is a fraud but some people here were opposing me.
Now you all can see it.
When experienced people are talking, children don't listen.

geostrata:
fall like a mangoe tree

The way L adyF Fell for skrill funds!

Take a risk and make a million

Zimbabwe again

Just recently:
See Zimbabwe 100 Trillion Dollar note that cannot buy Bread
http://benzems042..com.ng/2016/09/see-zimbabwe-100-trillion-currency-that.html

mmmm

Lilimax:
Why? We the MMM members knows that one day it'll crash but for now let's enjoy the offer...

Hope u won't cry when the hammer finally comes..
Ur response should be to pull out when u can rather than to enjoy it while it last

chronique:
In 2008,I did "getaway" and they got away with my money. That was the era of clubfreedom,getaway and cashdamond. Since then,I adviced myself not to ever get involved with stuffs like this. I've adviced people about this MMM but they won't listen. Stupidity is actually a chronic disease. Most people prefer to learn from their experience rather than from other people's experiences.

in 2008 u were stupid allow us to be stupid now atleast Mmm hasn't gotten away wit our money like it did wit d stupid version of u. Ppl DAT started with less Dan 100k can now boast of millions u are dere talking getaway.

lol thank God i made my 4M from them

honourhim:
I said it before in Nairaland that MMM is a fraud but some people here were opposing me.
Now you all can see it.
When experienced people are talking, children don't listen.

who did it fraud DAT u know.if u are referring to Zimbabwe check it ur self nobody lost dere money

Hmnnmmm,
we told them o

altitudee:
I invested N20k last month and i got N35k this month...abeg i don gain...the life we live is all about risks....MMM provide the warning at the top of thier website "put the money u can let go of"...
by God grace i will provide 20k again next week and wait for my 35k. if it crash before then....all is risks

U have been misinformed. U'll only cash out 26k in your 2nd PH. This is so cos u were given a $20 initial starters bonus in ur previous PH
.

Anticorruption:
lol thank God i made my 4M from them

u shouldn't be talking like dis am sure u are a guider u should be speaking up for Mmm not saying thank god u got ur 4m like it is somtin DAT has already crashed.

i have being paying my rent with easy, furnishing my room with d help of mmm and someone now came here and telling me mmm is fraud. i have study nigeria mmm very well, it takes a lot of days b4 you will be merged to pay, but it will not take u 2days b4 u will b paid, is because the system is workig perfectly.... this news came out to put fears into the minds of mmm members in Nigeria, just to kill the scheme.

anigbajumo:


Hian,make I hold on first b4 I go bank coz I just matched with another participant wey I go pay now.I fink it can't crash in Nigeria like that coz of the population factor which influence the rapid growth in investment. It can only crashes if people are no more participate and participants were withdrawing their money.......

Anyway, life itself is a risk.

Unfreaking believable. Do you understand what "ponzi" really means? Word of advice; Never ever let hunger and poverty overtake common sense.