Lots of Zimbabweans are in a financial trauma as you read this, all thanks to the popular Ponzi scheme called MMM. Thousands of people living in Zimbabwe, among them civil servants, vendors and more, were said to have lost thousands of dollars to fraudulent online pyramid scheme MMM Global Zimbabwe after the system collapsed recently. The social financial network, which relied on an accelerating number of new members to pay off the old, abruptly terminated its services without any prior notice last week leaving participants stranded.

Iharare.co reports that these Zimbabweans joined the online investment scheme with the sole aim of “getting rich quickly”. It was said that the Reserve Bank of Zimbabwe warned its people about the system, saying the scheme was fraudulent. The scheme prides itself as a mutual aid fund under which recruited members contribute money to assist others and are promised investment returns of 30 percent per month. Some of the people left counting their losses told The Herald that they received emails that the scheme had been suspended until September 15.

One of the participants, Mr Tinashe Muza of Harare said: “All along things were moving in the right direction and we now have nowhere to claim our investments. When we started putting our funds in the scheme one could get assistance within seven days but things later changed to 14 days and when we were shut out the waiting period was 21 days. 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.”

MMM stands for Mavrodi Mondial Moneybox and takes its name from its founder, Sergei Panteleevich Mavrodi of Russia. He founded MMM in 1989 and the scheme was declared bankrupt three years later leading to the disappearance of Mavrodi until his arrest in 2003. While some people who were skeptical about the scheme started with small amounts, it is believed some poured in thousands of dollars anticipating higher returns. The RBZ said the schemes were fraudulent as 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.

Currently, the scheme is in Nigeria and it is called MMM – Federal Republic of Nigeria. Lots of Nigerians are on the scheme and the scheme actually works (just like how it was working well at first in Zimbabwe). 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. Well, a lot of people think the scheme is legit and not a scam but the history of the company says the opposite. Only time will tell.

Sources: https://www.naij.com/982574-popular-mmm-crashes.html

okay!

Yeah sec and CBN officers have seen food to chop

Copy and paste news caster , get your facts right before starts running your public tap mouth open. News of 2nd September 2016 when MMM Zimbabwe was on pause which has lifted and working perfectly now....I can see enemies of MMM are just too much . change your plan of business if only what you do is to rub pple in the manner of corporate financial institution .....MMM pays.....together we change the world.

Mmadu111:
Copy and paste news caster , get your facts right before starts running your public tap mouth open. News of 2nd September 2016 when MMM Zimbabwe was on pause which has lifted and working perfectly now....I can see enemies of MMM are just too much . change your plan of business if only what you do is to rub pple in the manner of corporate financial institution .....MMM pays.....together we change the world.

whats the different between if the news is 2nd of September 2016 and and 26th of September 2016. The news still remain the same. MMM is a scam.

Mrfixitxtech:



whats the different between if the news is 2nd of September 2016 and and 26th of September 2016. The news still remain the same. MMM is a scam.

Still be calling it a scam, mmm has come to stay, you'll soon get tired .....MMM is not a scam, I was once thinking like you , not untill I gave it trial and saw the working of the system. It's superb. So if you really want to get your facts, join in and participate. Thank you!....Just got 2.6M now...wow!....MMM pays.

Lie lie lie

Sec...CBN...FG.....
..
Am here to give free whatsapp tutorial/ daily mentorship on how to participate on MMM safely.
I emphased on safely because I know sizeable number of people skeptical about the program are because of their fair. Yes, that is normal but I am assuring you that I will let you see that the fair is illusion. Afterall the risk is just for 1day to 3 week (depending on how lucky you are for the first match), if you keep with my rules and procedures. You can even test with any amount between #1000- 3.5milllion.
To me MMM risk is even lower than some business, so far you are not greedy. First time is sufficient to gain your ground and continue participating with your earning.
Earning after first PH is (1.30 X the amount) + $20 or $50
Benefit you will gain from the tutorial
1. Free guide on registration. I Can even register for you and you change password at your end (if wishes)
2. Guide on safe trading on it
3. Notification of your status (eg when your order is out), so far you are my downline
4. Guide on providing solution to issues (if any)
Question and Answer section
***Please only those that are yet to register and are ready to register are welcome
Just send me message with the statement “MMM + your name”
Whatsapp/Telegram: “Zero” 8 “Zero” 34556519

Good day Mavrodians.
If anyone tells u MMM has collapsed in SA and Zimbabwe.
Don't argue with them. No story. Just give dem these links to see whether MMM is alive or not.

SA: http://rsa-mmm.co/testimonials/

ZIMBABWE: http://ea-/testimonials/

NIG: http:///testimonials