KINGwax007:
keep lying to yourself..MMM crashed in SA on April 2016. Before then, e don crash for Zimbabwe.

http://www.google.com/url?sa=t&source=web&cd=1&ved=0ahUKEwiJnNyBjJzQAhUfM8AKHeevB0MQFggZMAA&url=http%3A%2F%2Fm.fin24.com%2Ffin24%2FMoney%2FInvestments%2Falleged-sa-ponzi-scheme-mmms-global-pyramid-collapses-20160412&usg=AFQjCNFvc1K4aQERF-qqDX-Lo3ggfrBthg

Till date the aforementioned countries mmm is still working there. I even have a friend in SA that is still doing mmm n as for Zimbabwe d initial 100% d promise ppl could not hold due to the battalion of ppl that was doing it which d reduce to 30%

My post here in Nairaland warning fellow citizens not to join the ponzi scheme, got many understood and people reacted negatively.

This is a good move by the Rep's.

Below all about the MMMGLOBAL:

MMM was established in 1989 by Sergei Mavrodi, 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.

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.

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.

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).

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).

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. 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%.

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.

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.

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.

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.

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). 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. 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". The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank. 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.

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

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: Wikipedia.org)

FOR MMM PARTICIPANTS!

*IMPORTANT INFORMATION*
Fellow Guiders, please make sure we educate our down lines not to narrate MMM when they are making funds transfer or cash deposits.
CBN has initiated a process to pull out all MMM related accounts with all Nigerian Banks. A very reliable source from Diamond Bank just told me that they received a memo from CBN to freeze any bank account with narration MMM. They have intensified the fight against MMM and we have to be Wise...
Please *Don't* Write *MMM or Donation* anywhere when making payment to anyone, whenever your PH orders are matched. *Simply write "Payment from then, Write your name"* Example *Payment from Francis*
That's all, upload your POP and the recipient will confirm you. *You must not write MMM or Donation for the person to know*. Let's learn not to bring *bad luck* to other people as a result of our *Action/Inaction*. Thanks as you comply. Note: *It is our collective responsibility to protect this great community of ours from the wickedness of the authorities and all construed enemies of MMM.* Please share with all your DLs.

slimany:
Hmmm the nigerian govt want us to remain poor so that they will continue ridding us and impoverished us!! We will not panic. this is not TSA .this is not political party nor govt platform so they should go to hell as long as I care !!!! We will not allow them nija fG to break us so therefore this massage should go viral !

you are been delusional

the useless politicians can't help the masses and they are trying to hinder the help the masses have found by themselves...may God save us from the oppressive hand of this politicians

.

make dem barn mmm,we go pack ourself go mmm united dat one self dey guarantees 100% interest on ur money per month....WhatsApp to know morw 08134866398.
......dey can't stop us.

Its nauseating how our media houses get involved in cheap publicity just to sell and attract traffic.
I personally went through National assembly website
http://www.nassnig.org/news/item/373
And their twitter handle
@HouseNGR
Nothing like MMM appeared to be discussed at plenary on the 9th day of November 2016.
So where did the likes of punch et all get their misleading news from?

#IStandWithMMM is trending on twitter... go and add your voice!