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We Are Investigating MMM Ponzi Scheme — EFCC - Business (9) - Nairaland

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Re: We Are Investigating MMM Ponzi Scheme — EFCC by abbey621(m): 3:03pm On Nov 16, 2016
eplanning:


In MNM once you get the money you are free to go but not so with the banks... They come after you for their money.

MMM is surviving now because they are using Paul to pay Peter. What happens when people like Paul are no longer contributing to the system? This is why it's called a Ponzi or pyramid scheme.

1 Like

Re: We Are Investigating MMM Ponzi Scheme — EFCC by bengunsman(m): 3:15pm On Nov 16, 2016
Iam a civil servant lowly paid worker i dicided to make it or keep trying so i dicided to take d risk From 1m start up in March have achieved 3m Lexus RX 350, 2 plots of land worth 2m at Ajah and 2m in treasury bills. if it crashes I smile and walk away if I stays till end of 2017 I will forget about poverty forever.

4 Likes 1 Share

Re: We Are Investigating MMM Ponzi Scheme — EFCC by Laid2001: 3:17pm On Nov 16, 2016
Eagle360:
*The MYSTIFIED 30% How to Understand It*

*As told By Guider Darlingcashflows*

THE MYSTIFIED 30% How to understand it.

Where do you Think Bank Gets money they loan out ( Yes our Money) You evidently give bank your money when you and all those who have account with the bank Crowd Fund(Deposition Remember I want to make this more practical.

Look at this illustration, illustration U have 1million naira,U went to the bank And put it in a fixed deposit account With interest of 12% per year. U are happy As u leave the bank

The business man comes And request to use ur 1million for biz Same bank charge him 35% He agreed Went to do biz wt ur money And make profit

Pays d bank Ur 1million +35% At d end of d year U came and collect 12% Who is the fool among the 3?.

And who is the king?

*Guider Darlingcashflows*

The only difference with real banks is that, people actually go to the banks to borrow money and pay higher loan rate than the deposit rate the banks pays. At even breakeven rate of 30% per month, which mad business man will borrow money from MMM for his business.

Ponzi schemes like MMM is fueled by the pyramid of new joiners who are always more than the people collecting!. MMM has failed in Russia where many committed suicide. It has failed in china and it has also failed in all countries it has been to before Nigeria.

the pyramid will always certainly get saturated and fail, It is currently being fueled by the large population of desperate Nigerians. And only elders will remember that we had umana umana before in Nigeria, even giving 60% per month at its peak. Many died after it collapsed.
Re: We Are Investigating MMM Ponzi Scheme — EFCC by makoota: 3:18pm On Nov 16, 2016
Some legislators inside the house who dont know what to say will always scratch their heads to find words. Some just talk for talking sake. Mtsweeh.
Re: We Are Investigating MMM Ponzi Scheme — EFCC by eplanning: 3:21pm On Nov 16, 2016
abbey621:


MMM is surviving now because they are using Paul to pay Peter. What happens when people like Paul are no longer contributing to the system? This is why it's called a Ponzi or pyramid scheme.

This is why you fight to stop Paul from contributing but na lie. Many will even PH because of this thread alone tongue tongue

It is not compulsory to invite somone. That's not a criteria to GH. So your "pyramid" argument is flawed.

4 Likes 1 Share

Re: We Are Investigating MMM Ponzi Scheme — EFCC by skydeexie(m): 3:28pm On Nov 16, 2016
samdelaw:
Hey guys, I have a problem. I have ghed from my po since yesterday but I haven't been matched. Can it be because I edited my account name by writing it in full? Need urgent help guys cry cry

A resounding YES! Unlike the garbage some people are busy spewing here about the scheme, MMM has very strict rules that governs its internal operations. If you have edited information about your account details after pledging to provide help, the system will place you on temporary moratorium for 15days. Only after 15 days will the system match you again. You may create a ticket (complain) to Support team and tell them the system is not matching you for GH. They will give you the reason you are not being matched, but then you still have to wait for 15 days. On the other hand, you can add an account to your existing one but not edit the previous one. The only time you can edit your account is during the registration process.

Meanwhile for those who are worried shit about how or where MMM is getting the promised 30% for participants or how it's making money, my, this really beats me. Why are we even worried about that? People, Mavrodians! this is our own trade secret and we must guard it jealously. Every "business" organization has her trade secrets, do they flaunt it all over the place? Why must we tell the world?, we are not a company, we are a social financial network mutually agreeing to provide and give financial help to one another on the simple principle of goodwill and benevolence - can there be any law against this?

Divulging our internal operations is akin to asking the Coca-cola company to display the formula for Coke soda for everyone to see! If you are in doubt ask Pepsi-Cola, with all their years of trying to copy the formula - Coke is still distinctively Coke while Pepsi will ever remain the imitator. There are a million and one ways to make money on the internet and MMM is just one out of the million ways, so why concentrate on MMM only? If there is anything the unwarranted and unexpected publicity has done for MMM, it is only one thing - it has made us more determined and stronger. MMM pays and it lives forever!

Stop press people! Join me here if you want to register: http:///?i=treasure4tain@gmail.com

4 Likes 2 Shares

Re: We Are Investigating MMM Ponzi Scheme — EFCC by DiiVictory(m): 3:31pm On Nov 16, 2016
samdelaw:
Hey guys, I have a problem. I have ghed from my po since yesterday but I haven't been matched. Can it be because I edited my account name by writing it in full? Need urgent help guys cry cry
yes is because u changed your account details. it happened to my roomie in school. you have to write to support to clarify is not fraud you want to carry out
Re: We Are Investigating MMM Ponzi Scheme — EFCC by adeoba2008(m): 3:38pm On Nov 16, 2016
Saheed Represents Ibadan North East Constituency in the House. The only Constituency he can boast is a Vocational Centre in Anwarul Islam, that is not yet equipped. He should cover his head in shame and stop staying rubbish.
Re: We Are Investigating MMM Ponzi Scheme — EFCC by denssing: 3:40pm On Nov 16, 2016
unclezuma:


Shey you know say Nairabet, Surebet and Baba Ijebu get license to operate and they pay tax?

gringringringrin
MMM is not an investment scheme.It is a community of people providing and giving help among themselves. It has nothing to do with tax payment.

1 Like

Re: We Are Investigating MMM Ponzi Scheme — EFCC by FullDepth1: 3:48pm On Nov 16, 2016
lakesider:
mmm participant has increased tremendously not only because of participant inviting other participant but because of , CBN , SEC and EFCC stylishly advertising mmm .
everybody is in mmm , bankers , cbn staffs , house of rep members , senators , police , efcc , perm sec , etc

thank you cbn , thank you efcc , thank you sec , thank you house of rep , participant are aware of the risk involved already
[/color]

THAT HOUSE OF REP GUY (Who was once accused of Raping a Zenith bank girl) HAS STYLISHLY PROMOTED MMM TO ALL NIGERIANS.

you just talked about it, and Walked away!

Now, they have more participants[color=#990000]
Re: We Are Investigating MMM Ponzi Scheme — EFCC by denssing: 3:49pm On Nov 16, 2016
Laid2001:


The only difference with real banks is that, people actually go to the banks to borrow money and pay higher loan rate than the deposit rate the banks pays. At even breakeven rate of 30% per month, which mad business man will borrow money from MMM for his business.

Ponzi schemes like MMM is fueled by the pyramid of new joiners who are always more than the people collecting!. MMM has failed in Russia where many committed suicide. It has failed in china and it has also failed in all countries it has been to before Nigeria.

the pyramid will always certainly get saturated and fail, It is currently being fueled by the large population of desperate Nigerians. And only elders will remember that we had umana umana before in Nigeria, even giving 60% per month at its peak. Many died after it collapsed.
MMM is not a pyramid scheme. D old and new joiners keep providing and getting help repeatedly. Ignorance is d bane of did country.

2 Likes

Re: We Are Investigating MMM Ponzi Scheme — EFCC by Nobody: 3:51pm On Nov 16, 2016
denssing:
MMM is not an investment scheme.It is a community of people providing and giving help among themselves. It has nothing to do with tax payment.

It's a scheme all the same sire.

1 Like

Re: We Are Investigating MMM Ponzi Scheme — EFCC by obinoral1179(m): 3:53pm On Nov 16, 2016
azeecoboy:
[b]Copied: The Monkey Money Madness! (MMM) Once upon a time in a village, a man appeared and announced that he would buy monkeys for N100 each. The villagers seeing that there were so many monkeys around, went out to the forest and started catching them. The man bought thousands at N100 and as supply started to diminish, the villagers stopped their efforts. He further announced that he would now buy at N200. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished and people started going back to their farms. The offer rate increased to N250 but the supply of monkeys became so little that it took much effort to even see a monkey, let alone catch one. The man now announced that he would buy monkeys at N500! However, since he had to go to the city on some business, his assistant would now buy on his behalf. In the absence of the man, his assistant told the villagers: ''Look at all these monkeys in the big cage that my OGA has bought from you, I will sell them to you at N350 and when my OGA returns from the city, you can sell it to him at N500''. The villagers squeezed out all their HARD EARNED savings and bought all the monkeys. The most greedy ones among them even sold their lands to purchase many MONKEYS, hoping to make a huge profit without labor. Then... They never saw the man or his assistant. Only monkeys everywhere! Remember the last offer was 250 and he has sold all the monkeys back to the villagers at the rate of 350. Now who is loosing? MMM patrons, be warned doomsday is near. Welcome to # MMM.The world of Monkeys![/b]
this analogy is lame, dumb and lacks common sense... My opinion though....

3 Likes

Re: We Are Investigating MMM Ponzi Scheme — EFCC by Nobody: 3:53pm On Nov 16, 2016
progress69:


Look here, not only EFFCC investigating this poo. Intelligence agencies around the world are running their investigations the way they do to drug cartels. They don't just strike, like DSS and EFCC then start investigating after arrest, they do their home work well, cos when they strike, they kill it once and forall and they dont care how many people hang themselves or get hurt as a result. No sane government will keep watching MMM. Mark my words.
SHARAPPPP!!! YOU BETTER JOIN MMM AND HELP YOUR LIFE!! MMM IS UNCRASHABLE
Re: We Are Investigating MMM Ponzi Scheme — EFCC by Nobody: 3:55pm On Nov 16, 2016
IN MMM, EVERYONE IS HAPPY!!! MMM NIGERIA IS 1 TOMORROW!! HELP YOURSELF! HELP YOUR MOTHER!!JOIN MMM
alizma:

I think you should also tell us the other side of it, I mean how much help you have provided within the period that you receive these respective amount and how much you have cashed out then we can know whether you are making profit or not.
besides, since the money you paid is not being invested in a profitable business, is it not reasonable to ask yourself where is the so call 30% increase is coming from, who is paying those that works day and night to keep d system out of crash and ensure smooth transitions? MMM is a build up of debt that will certainly crash someday, some people would have make enough money and quite while others will not be that lucky but the government is looking at the effect on everyone.

1 Like

Re: We Are Investigating MMM Ponzi Scheme — EFCC by ivili(m): 3:56pm On Nov 16, 2016
Are they serious?How can they claim MMM is a ponzi scheme without actually investigating it?Na so EFCC take dey do their own investigation?yeye people.
Re: We Are Investigating MMM Ponzi Scheme — EFCC by Nobody: 3:57pm On Nov 16, 2016
bengunsman:
Iam a civil servant lowly paid worker i dicided to make it or keep trying so i dicided to take d risk From 1m start up in Marchl I have achieved 3m Lexus RX 350 and 2 plots of land worth 2m at Ajah and 2m in treasury bills. if it crashes I smile and walk away if I stays till end of 2017 I will forget about poverty forever.
BROS I LOST MY JOB 2YRS AGO!! MMM HAS MADE ME A MAN THAT SORTS OUT FINACIAL CHALLENGES TODAY!!! GOD BLESS MAVRODI

3 Likes 1 Share

Re: We Are Investigating MMM Ponzi Scheme — EFCC by Nobody: 4:04pm On Nov 16, 2016
amychizzy:
Myself I see that MMM as end time.... People should just be careful. I don't think I'm interested in the MMM
MARK MY WORDS!! BY JANUARY YOU WILL BE PROVOKED TO JUMP INTO MMM

1 Like

Re: We Are Investigating MMM Ponzi Scheme — EFCC by kamcygirl(f): 4:06pm On Nov 16, 2016
AntiZombie:

i do 500 twice a month 08107558420 whatsapp
as for those waiting for it to crash. keep waiting undecided
will guide u cool
thks alot, pls delete ur digit, i will whatsapp u 2nite.
Re: We Are Investigating MMM Ponzi Scheme — EFCC by Nobody: 4:09pm On Nov 16, 2016
Lilimax:
Abio!
MMM pays for now! smiley
TILL RAPTURE
Re: We Are Investigating MMM Ponzi Scheme — EFCC by piagetskinner(m): 4:10pm On Nov 16, 2016
The govt can go to hell..


How do they expect nigerians who have seen this so called wonder bank, as the only means to financial freedom to quit mmm?



The govt doesn't care about it citizens all they know is how to make silly and empty promises...

The buhari led govt is a failure

1 Like

Re: We Are Investigating MMM Ponzi Scheme — EFCC by Lilimax(f): 4:11pm On Nov 16, 2016
Chosen1984:
TILL RAPTURE
Bros, know say e go crash one day.
No put all your money o to avoid stories that touch smiley
Re: We Are Investigating MMM Ponzi Scheme — EFCC by Nobody: 4:15pm On Nov 16, 2016
Lilimax:

Bros, know say e go crash one day.
No put all your money o to avoid stories that touch smiley
SHARAPPP YOUR TEETH!MMM IS UNCRASHABLE!!

1 Like

Re: We Are Investigating MMM Ponzi Scheme — EFCC by Lilimax(f): 4:17pm On Nov 16, 2016
Chosen1984:
SHARAPPP YOUR TEETH!MMM IS UNCRASHABLE!!
E go do you voom for eye but for now enjoy the offer while it last.
Re: We Are Investigating MMM Ponzi Scheme — EFCC by justmenoni: 4:17pm On Nov 16, 2016
It is risky but it is their money.

If it the scheme folds, it is their cup of tea.


according to your logic, we don't need a security system in a country...if I told you that I will ship in and send you a car for so so so amount and you believe and pay me for it, and I failed to do so..will you see it as a RISK on your part or rather report me to the security agencies? so as to avoid court issues, security challenges are the reason why the govt is doing everything within their might to prevent MMM...A risk is better managed when prevented and this is one of the reasons why western governments always seem to us lie they're efficient, They're truly efficient not only by manpower but also by PREVENTION.

Drop this una MMM and stop attracting and enticing gullible and vulnerable Nigerians because of your selfish and greedy interest,.,



eleojo23:
Investing in MMM is a personal choice.

It is risky but it is their money.

If it the scheme folds, it is their cup of tea.

I think the government should focus more on making life easy for the masses so that they wont find schemes like MMM attractive instead of just attacking the scheme.

Looking at the situation of things right now, people are ready to bet their lives on MMM rather than on the government's bogus promises.
Re: We Are Investigating MMM Ponzi Scheme — EFCC by tempel(m): 4:18pm On Nov 16, 2016
I can't stop it. Better than our banks. Like if you like MMM and share if you don't.

3 Likes

Re: We Are Investigating MMM Ponzi Scheme — EFCC by porchster: 4:25pm On Nov 16, 2016
IN FACT I HATE THIS PARTIALITY. WHY WILL SEUN MAKE ALWAYS BRING THE NEGATIVE SIDE OF MMM STORY TO US... I BELIEVE HIS PART OF THOSE THAT WANT THE POORER TO BECOME MORE POOR. YOU CAN SEE PEOPLE TESTIFYING CONCERNING THIS MMM YOU FAILED TO PLACE IT ON FRONT PAGE.

NAIRALAND THIS DAYS IS SOMETHING ELSE.

2 Likes

Re: We Are Investigating MMM Ponzi Scheme — EFCC by Nobody: 4:39pm On Nov 16, 2016
azeecoboy:
[b]Copied: The Monkey Money Madness! (MMM) Once upon a time in a village, a man appeared and announced that he would buy monkeys for N100 each. The villagers seeing that there were so many monkeys around, went out to the forest and started catching them. The man bought thousands at N100 and as supply started to diminish, the villagers stopped their efforts. He further announced that he would now buy at N200. This renewed the efforts of the villagers and they started catching monkeys again. Soon the supply diminished and people started going back to their farms. The offer rate increased to N250 but the supply of monkeys became so little that it took much effort to even see a monkey, let alone catch one. The man now announced that he would buy monkeys at N500! However, since he had to go to the city on some business, his assistant would now buy on his behalf. In the absence of the man, his assistant told the villagers: ''Look at all these monkeys in the big cage that my OGA has bought from you, I will sell them to you at N350 and when my OGA returns from the city, you can sell it to him at N500''. The villagers squeezed out all their HARD EARNED savings and bought all the monkeys. The most greedy ones among them even sold their lands to purchase many MONKEYS, hoping to make a huge profit without labor. Then... They never saw the man or his assistant. Only monkeys everywhere! Remember the last offer was 250 and he has sold all the monkeys back to the villagers at the rate of 350. Now who is loosing? MMM patrons, be warned doomsday is near. Welcome to # MMM.The world of Monkeys![/b]
in this seemingly sensible but stupid comparison u failed to realise that in MMM no single person has all the money to himself at any particular time so there is no oga to sell monkeys and have all the money to himself before deciding to run. now try again but this time add wisdom...
FYI I'm not doing MMN...

3 Likes

Re: We Are Investigating MMM Ponzi Scheme — EFCC by aditoomuch: 4:45pm On Nov 16, 2016
Jobless useless souls, people that have used pen and paper to steal nigeria's money you have not investigated it is full blown adults who decide to do whatever they want with thier money you want to investigate , misdirected fools.

1 Like

Re: We Are Investigating MMM Ponzi Scheme — EFCC by chessguru(m): 4:57pm On Nov 16, 2016
abbey621:


MMM is surviving now because they are using Paul to pay Peter. What happens when people like Paul are no longer contributing to the system? This is why it's called a Ponzi or pyramid scheme.
old participants keeps coming back apart from new Invitees...... MMM South Africa is now five years and counting ... No shaking for MMM Nigeria which is even stronger than that of South Africa!

2 Likes

Re: We Are Investigating MMM Ponzi Scheme — EFCC by streamsofjoy(f): 4:57pm On Nov 16, 2016
alizma:

I think you should also tell us the other side of it, I mean how much help you have provided within the period that you receive these respective amount and how much you have cashed out then we can know whether you are making profit or not.
besides, since the money you paid is not being invested in a profitable business, is it not reasonable to ask yourself where is the so call 30% increase is coming from, who is paying those that works day and night to keep d system out of crash and ensure smooth transitions? MMM is a build up of debt that will certainly crash someday, some people would have make enough money and quite while others will not be that lucky but the government is looking at the effect on everyone.

U would have made sense if u sounded like a concerned Nigerian rather than a pained bad belle. U just can't join anymore Becos of how u have bad mouthed the scheme and the height of the pain is that, those who chose to take the risk earlier have made it and u still where u are. Pls take heart. We participate being fully of sound mind and memory our SPARE MONEY. Long live MMM

2 Likes

Re: We Are Investigating MMM Ponzi Scheme — EFCC by abbey621(m): 5:01pm On Nov 16, 2016
chessguru:
old participants keeps coming back apart from new Invitees...... MMM South Africa is now five years and counting ... No shaking for MMM Nigeria which is even stronger than that of South Africa!

They said the same thing back in 2005 when the same scheme came to Nigeria but under a different method(FOREX), they paid me once and paid the second time by the third time I invested all my capital including the profits and GBAM it crashed. History they say repeats itself once as a tragedy and next as a comedy. Be wise!

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