The entrance of Mavrodi Mondial Moneybox popularly known by its abbreviation, MMM, into the country sent Nigerians into a frenzy as many hop into the quick-money train. The company which was founded in Russia 1989 by Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova recorded a rapid growth but in 1994, it came crashing down as it was closed over tax evasion.

Described as the biggest Ponzi scheme in the 1990s, it was estimated that thousands of people lost up to $10 billion dollars.



The scheme which has been banned in China has found its way to South Africa, Zimbabwe and recently Nigeria where it has attracted “investors” who put money into it and receive 30 per cent “profit” ant the end of the month.

Sergei Mavrodi was found guilty in 2007 in a Russian court of defrauding 10,000 investors and sentenced to four-and-a-half years in prison.

How MMM works

People are asked to register and put in money and after 30 days, they receive a 30 per cent profit plus the invested money.

Due to the larger number of people who participate, it is possible for money to circulate in a case described as robbing Peter to Pay Paul.

Sergei Mavrodi arrested in Russia

For example, if a person invests N10,000, he will receive N13,000 at the end of a month while there is also the promise of more money if an “investor” invites new people to participate.

Is it genuine of fake?

The Central Bank of Nigeria bank through its the acting Director of Corporate Communications, Mr. Isaac Okoroafor, had warned Nigerians against putting their money in the MMM scheme as it could not guarantee the unregistered financial enterprise.

“At times like this when the economy has suffered some decline, Nigerians should be very careful with those they deal with. Any institution that is not licensed by the CBN to accept deposits should not be given money to keep under any guise.

“We can vouch for the banking system. The deposit money banks are the only licensed institutions to take deposits. If you need to deposit money in any form, go to any of the deposit money banks and put your money, you can buy fixed income instruments or invest in stocks.

MMM-COLLAPSED

“These people always come with very interesting propositions. These are fraudsters who are just out there to collect people’s money and run away as soon as they hit their target. There is no insurance because the NDIC does not even protect them against such risks when they occur.

” In September, it was reported that the scheme had crashed in Zimbabwe throwing a lot of investors awaiting their money into tears although the company denied it claiming it was going through reform.

Some Nigerians who have participated in the scheme have described it as an answer to their prayers in this economically-challenging period as its financial return in a short period was “better than what any bank can offer.”

Some people have testified to investing their money and getting “genuine” return which has gingered them to not only put in larger investment but invite and convince people of its legitimacy. Other people are afraid that there is a huge uncertainty about when it might end and therefore are cautious about putting their fund into it.

They claim that since there is no security attacked to it, the MMM scheme might stop operation without warning all the money they have put into it will be lost. Do you think the MMM scheme is genuine or a fraud? Do you have any personal experience about it?

Vote in the poll and share you though and experience in the comment section below’

Source: http://nigeriabreakingnews.com.ng/poll-is-mmm-genuine-or-a-scam-drop-your-answers-in-the-comment-box-below/

OP pls dont bother with ur topic. Nothing u tell them will make any sense till they learn their lesson the hard way. For now, MMM lovers pls do as u wish. Its a free world

Op,I have been making cool money from MMM since June.... I just bought a car from MMM proceed and my friend bought a land.....
Wealth is all about taking risk,...
So many people are making their money through MMM and you are here asking question.....

Go and ask any businessman u knw if there is any business without risk!

Described as the biggest Ponzi scheme in the 1990s, it was estimated that thousands of people lost up to $10 billion dollars.. Op from the copy n paste article u posted, who stole these people's money? MMM of Russian govt?



Who ask where doed 30% comes from, the big pays bankers MD n EDs get was those not from customers savings? Do u knw how much banks maintain there building with and payment for electricity monthly, is the money from from the trading profit or from out deposits?

Let us all try to enter a bank to cash out same time and see if we can all get our money same time then u will knw how money is not with them but just revolves around through them.

This reminds about 'Umana Wonder Bank'. It started like this until some investors began to cry 'God has killed me o'. At first scammers will pay wholesomely until they reach their target before they disappear.

edebemba:
This reminds about 'Umana Wonder Bank'. It started like this until some investors began to cry 'God has killed me o'. At first scammers will pay wholesomely until they reach their target before they disappear.

I do not blame you for this comment my friend. You do not understand how MMM works thats why u cite Umana as an example. Most definitely, MMM is no bank and does not have a centre box where all invested Marvros/Monies are stored for later retrieval. Transactions happen via participant's personal bank accounts and do not operate by any forceful mandates.

It is exactly like the local contributions which thrives amongst market men and women, except that there is no one really holding your money nor a central account. You contribute and get contributed to with an additional 30%.

MMM: Together we can change the world!!!

jchima14:


The entrance of Mavrodi Mondial Moneybox popularly known by its abbreviation, MMM, into the country sent Nigerians into a frenzy as many hop into the quick-money train. The company which was founded in Russia 1989 by Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova recorded a rapid growth but in 1994, it came crashing down as it was closed over tax evasion.

Described as the biggest Ponzi scheme in the 1990s, it was estimated that thousands of people lost up to $10 billion dollars.



The scheme which has been banned in China has found its way to South Africa, Zimbabwe and recently Nigeria where it has attracted “investors” who put money into it and receive 30 per cent “profit” ant the end of the month.

Sergei Mavrodi was found guilty in 2007 in a Russian court of defrauding 10,000 investors and sentenced to four-and-a-half years in prison.

How MMM works

People are asked to register and put in money and after 30 days, they receive a 30 per cent profit plus the invested money.

Due to the larger number of people who participate, it is possible for money to circulate in a case described as robbing Peter to Pay Paul.

Sergei Mavrodi arrested in Russia

For example, if a person invests N10,000, he will receive N13,000 at the end of a month while there is also the promise of more money if an “investor” invites new people to participate.

Is it genuine of fake?

The Central Bank of Nigeria bank through its the acting Director of Corporate Communications, Mr. Isaac Okoroafor, had warned Nigerians against putting their money in the MMM scheme as it could not guarantee the unregistered financial enterprise.

“At times like this when the economy has suffered some decline, Nigerians should be very careful with those they deal with. Any institution that is not licensed by the CBN to accept deposits should not be given money to keep under any guise.

“We can vouch for the banking system. The deposit money banks are the only licensed institutions to take deposits. If you need to deposit money in any form, go to any of the deposit money banks and put your money, you can buy fixed income instruments or invest in stocks.

MMM-COLLAPSED

“These people always come with very interesting propositions. These are fraudsters who are just out there to collect people’s money and run away as soon as they hit their target. There is no insurance because the NDIC does not even protect them against such risks when they occur.

” In September, it was reported that the scheme had crashed in Zimbabwe throwing a lot of investors awaiting their money into tears although the company denied it claiming it was going through reform.

Some Nigerians who have participated in the scheme have described it as an answer to their prayers in this economically-challenging period as its financial return in a short period was “better than what any bank can offer.”

Some people have testified to investing their money and getting “genuine” return which has gingered them to not only put in larger investment but invite and convince people of its legitimacy. Other people are afraid that there is a huge uncertainty about when it might end and therefore are cautious about putting their fund into it.

They claim that since there is no security attacked to it, the MMM scheme might stop operation without warning all the money they have put into it will be lost. Do you think the MMM scheme is genuine or a fraud? Do you have any personal experience about it?

Vote in the poll and share you though and experience in the comment section below’

Source: http://nigeriabreakingnews.com.ng/poll-is-mmm-genuine-or-a-scam-drop-your-answers-in-the-comment-box-below/

Good evening OP,

Let me start with correcting this....MMM is not Mavrodi Mondial Moneybox, but Mavrodi Mondial Movement.

That box in "MoneyBox" probably has confused alot of prospective Marvrodians.

This also picked my interest my man,...."the MMM scheme might stop operation without warning all the money they have put into it will be lost..."

HAHA

Marvrodi, does not gain anything from the MMM platform, just internet traffic. He is a billionaire in Euros. Secondly, participants in MMM actually pay themsleves, and not as u think. Lets put it this way, the only way MMM can end : thats if its even possible, clearly it isnt: Is if all banks close down in one day. (Exclusively in one day). As all GH;s and PH;s get executed through participant bank accounts.

MMM was established to enable us help ourselves by ourselves.

MMM, would loose its purpose if CBN, SEC and a host of other greedy Nigerian institutes are made to be a part of it. The said Tax they r after and all other forms of taxes that have been generated over time by we the civilians and citizens, have we seen its benefits? Please lets be truthful to ourselves. This is why MMM was set up on a russian server and not on our Nigerian servers. MMM Cannot be shutdown and cannot be hacked. Plain and Simple.

MMM does not really require new members occasionally in order to function. I KNOW ALOT OF PEOPLE DONT KNOW THIS PART!!!, because the PH'ers (contributors) understand how it works and would always contribute, especially for their monthly 30% interest/profits (which has never dissapointed them), thereby helping those who need thier cash (GH'ers). The MMM system is perfect and healthy. Even if new members are scared to join: for whatever reason, 30% is still being generated and recycled from and for the present participants, so MMM is not an instance of "robbing peter to pay paul" as many have thought it to be. People are getting paid from MMM everyday and easily, we are here discussing.

MMM has clocked 5years in South Africa yesterday, TAKE NOTE!!!

MMM has included ghana in its database, as at three days ago, and its kicking properly as it is in Nigeria and with other countries.

Quote::: "In September, it was reported that the scheme had crashed in Zimbabwe throwing a lot of investors awaiting their money into tears although the company denied it claiming it was going through reform..."LOL, .....MMM is still very functional in zimbabwe, this is a very false information. Our media perpetrated that information by themselves, MMM has never crashed in any country, neither do our banks have any form of powers to stop MMM. As participants operate thru their own registered banking apps or do transcations manually, which is regular business to them.

Last but not the least, to all them perpetrating wrong information about MMM going on temporary christmas holiday, that is a very false information. Stop spreading it. If you need to clarify any information that you havent recieved personally in your P.O., pls feel free to ask your guiders.


MMM Pays## Stop baseless speculations. More questions or clarifications? Ask a certified Me OR ask a known MMM guider who you trust.

Thank You

Stanley Chukwuma
evrounilagr@gmail.com
+2348026967699
+2348133274043

If you have all these informations, why are u asking questions?
If you have all these informations, why are u asking questions?