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MMM Nigeria:the Dark History Of This Popular Ponzi Scheme - Business - Nairaland

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MMM Nigeria:the Dark History Of This Popular Ponzi Scheme by ariesbull: 5:31pm On Sep 26, 2016
As kids, we all dreamed of getting rich quick without working hard. We would imagine that someone would give us a million dollars and that will be
Some of us carry this day dreams into adulthood and unfortunately conniving people take advantage of this.


MMM Nigeria, is a Ponzi scheme that originated in Russia that has now set up in Nigeria. Wikipedia says the company was involved in one of the biggest Ponzi schemes in the 1990s. It was estimated that thousands of people lost up to $10 billion dollars.
MMM was founded by Sergei Mavrodi, Vyacheslav Mavrodi, and Olga Melnikova in 1989. After a rapid growth, but it all came crashing in 1994 when the police shut down MMM for tax evasion. At this point, the company owed its investors $50m-$1.5bn. From the aftermath 50 of the MMM investors committed suicide.
15 years later, MMM established an office in South Africa. Using the same business model the company claimed investors would get a 30% per month dividend via a “social financial network.” In January 2016, MMM landed in Nigeria.
What’s a Ponzi scheme and why should Nigerians stay away from MMM? A Ponzi scheme, according to Wikipedia, is “a form of fraud in which belief in the success of a nonexistent enterprise is fostered by the payment of quick returns to the first investors from money invested by later investors.”


https://etimesafrica./2016/09/26/mmm-nigeriathe-dark-history-of-this-popular-ponzi-scheme/#more-1646
Re: MMM Nigeria:the Dark History Of This Popular Ponzi Scheme by CHINNYZ(f): 5:35pm On Sep 26, 2016
And nigerains don carry am for head undecided
Re: MMM Nigeria:the Dark History Of This Popular Ponzi Scheme by Nobody: 7:01pm On Sep 26, 2016
Op hace you eaten?
Re: MMM Nigeria:the Dark History Of This Popular Ponzi Scheme by davids202(m): 9:55pm On Sep 26, 2016
Why the hate on MMM lately? I've been in it since February till date d money I've made can not be mentioned, what you don't know is bigger than you just bet it will u angry

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