MMM seems like one acronym many
Nigerians will not forget in a hurry. The
Ponzi scheme has taken Nigeria by storm
with many sinking huge sums into it
despite clear indications that it might
crash.
MMM Ponzi scheme
According to Wikipedia, МММ was a
Russian company that perpetrated one
of the world's largest Ponzi schemes of
all time, in the 1990s. By different
estimates from 5 to 40 million people
lost up to $10 billion. The exact figures
are not known even to the founders.
It is also vital to note that 50 investors
in MMM committed suicide in 1994
after it crashed. The police closed the
offices of MMM for tax evasion on July
22, 1994. The company tried to continue
the scheme but the business shut down.
Now that Nigerians have taken to MMM
in a huge way, who are some kinds of
people that will feel the brunt if MMM
crashes?

1. Nigerians who resigned their jobs
While it is quite strange, there have
been stories of Nigerians who left their
jobs because MMM started paying well.
These set of people feel that MMM is a
more easy way to make money and so
they have quit their jobs.
If the scheme crashes today, this set of
people will be left with no means of
income and no job.

2. Nigerians who invested their savings
The news that MMM is paying has led
many to invest their entire life savings
in the hopes that they will get huge
returns based on the percentages. What
happens when the scheme collapses?
Losing their entire life savings is
something that will lead to huge
problems for many Nigerians.

3. Those who sold their property
In the hopes of huge returns, many
Nigerians have sold their properties and
put the money gotten into the MMM
scheme. Lands, homes and other
investments have gone into the scheme.
What will happen to such people when
it crashes?

4. Those who got married with MMM
money and no jobs
There have been stories of young men
who upon getting their first MMM
payment, decided it was time to settle
down and get married. What happens
when the MMM money dries up?? They
will find it difficult to cope, if they do
not have an extra means of income.

5. Bankers
While this might sound strange, there
have been stories like this: "Some
bankers who usually invest as much as
N10m out of customers’ savings just to
get a profit of N3m in return. We
recently heard the story of a bank
manager who committed suicide due to
debt."
To round up, this quote is fitting to
represent the situation of Nigeria as
regards MMM.
"It is easier to find a virgin in Nigeria
than to find a non MMM participant." -
Arinze Esomnofu

Many will blame devil for being unlucky

now see why Nigerians have no other choice but to emberrace the mmm program. There must be an alternative to survive. And mmm happens to be that alternative.

Just see: http://nigerianpropertyforum.com/p/40/open-letter-from-sergey-mavrodi-to-nigerian-govt-authorities

andyboi4real:
MMM seems like one acronym many
Nigerians will not forget in a hurry. The
Ponzi scheme has taken Nigeria by storm
with many sinking huge sums into it
despite clear indications that it might
crash.
MMM Ponzi scheme
According to Wikipedia, МММ was a
Russian company that perpetrated one
of the world's largest Ponzi schemes of
all time, in the 1990s. By different
estimates from 5 to 40 million people
lost up to $10 billion. The exact figures
are not known even to the founders.
It is also vital to note that 50 investors
in MMM committed suicide in 1994
after it crashed. The police closed the
offices of MMM for tax evasion on July
22, 1994. The company tried to continue
the scheme but the business shut down.
Now that Nigerians have taken to MMM
in a huge way, who are some kinds of
people that will feel the brunt if MMM
crashes?

1. Nigerians who resigned their jobs
While it is quite strange, there have
been stories of Nigerians who left their
jobs because MMM started paying well.
These set of people feel that MMM is a
more easy way to make money and so
they have quit their jobs.
If the scheme crashes today, this set of
people will be left with no means of
income and no job.

2. Nigerians who invested their savings
The news that MMM is paying has led
many to invest their entire life savings
in the hopes that they will get huge
returns based on the percentages. What
happens when the scheme collapses?
Losing their entire life savings is
something that will lead to huge
problems for many Nigerians.

3. Those who sold their property
In the hopes of huge returns, many
Nigerians have sold their properties and
put the money gotten into the MMM
scheme. Lands, homes and other
investments have gone into the scheme.
What will happen to such people when
it crashes?

4. Those who got married with MMM
money and no jobs
There have been stories of young men
who upon getting their first MMM
payment, decided it was time to settle
down and get married. What happens
when the MMM money dries up?? They
will find it difficult to cope, if they do
not have an extra means of income.

5. Bankers
While this might sound strange, there
have been stories like this: "Some
bankers who usually invest as much as
N10m out of customers’ savings just to
get a profit of N3m in return. We
recently heard the story of a bank
manager who committed suicide due to
debt."
To round up, this quote is fitting to
represent the situation of Nigeria as
regards MMM.
"It is easier to find a virgin in Nigeria
than to find a non MMM participant." -
Arinze Esomnofu

It has already crashed! They just used sense to prevent mass panic by claiming system maintenance! When daybreak people eye go clear!