jakiedudu:
I understand your fears and concern, and I appreciate it. but I think I grabs the idea of mmm.
MMM is somewhat similar to some community groups in some communities in the middle belt especially Plateau State. These groups are called ''Adashe''. It's a sort of ''Donation Agency'' where members contribute certain amount of money weekly, monthly (as the case may be) to each other. These groups are common among women in plateau state. For example, a group of ten (10) women get together to help one another. They contribute say N5,000 monthly to each other. When it gets to your turn, all group members pay you N5,000. Thats N50,000, enough to start a small scale business like trading, making and selling of snacks etc. This is what some women in these communities do to raise money to start a small scale business.
These groups which are very common in rural areas are not investment schemes or business ventures. Just a group of women joining heads together to help each other out.
With what I have learn so far from this Adashe group, MMM appears somewhat similar to it.

You see those group you mentioned, you only get what you will eventually put in which
is a normal thing. But this MMM promises you 30%, where do you think the extra comes from ?
Nobody will put their money in MMM if they have to pay back all they have earned from it.

Joel3:
this is how it works..

if you help someone. that amount let say N50k. this 50k will enters your mavro account. and it grows at 30% a month. at the end of 30days it will be N70k. so if you request for help. someone will help you with the N70 cash out. the person that help you with 70k another person will help that one at 30days. then u too can help another again and again just like that.

Sounds sweet but with no viable proof.How and where does the profit accumulate from?.In sports betting,we know it's a win or lose game.Looking at this MMM shit,since no one loses their money,how does the profit accumulate?

mckoolcharming:


old story that was resolved... check d new story Oga rumor mongah

tell him abeg

Copied.
I Will Rob Peter and Pay You, Paul - Everything You Want To Know About This Scam Called MMM
==========================================

In 2001, I was a starry eyed University student, who was desirous of making it big in life and becoming rich.

I was looking for businesses opportunities that would make me a lot of money. I tried different things.

In 2003, November to be precise, I stumbled on internet marketing, through Success Digest magazine.

Over the next few years I would try almost everything published in the paper - affiliate marketing, information marketing, Google Adsense, you name it.

In 2006, one particular money-making scheme came up which attracted hordes of fans. That scheme was/is known as HYIP.

What's a HYIP? It's called a High Yield Investment Programme.

Basically how it works is this:

You put in some money, and then every day or week, or month, depending on the particular HYIP website you registered with, you would earn a percentage, maybe 10%, 15%, 20%, 25%, 50% and even 100% again depending on the HYIP site.

It looked so easy. Just put in money and wait for sometime and bam! You get a percentage.

It looked too good to be true but nothing tried, nothing gained, right? So I gathered my school feeding money and bought eGold (remember them?) worth $50 and "invested".

The following week, my money had "grown" to $100. My HYIP company paid 100% of your money every week. My oh my! I was totally sold!

Now to make more money, I needed to reinvest my money which was now $100 which I promptly did. The following week, I had $200.

Gaddem!

So I went round school preaching this stuff. I even preached it far more than the guy who introduced it to me. I got others to "invest" and with each investment they did, I was scheduled to be paid a 10% "commission bonus" for the referral.

I went looking for more money to borrow to invest because my thinking was, if I had gotten $200 with just $50 in two weeks, imagine how much I would get if I invested $500!

The guy who introduced me to it went to his Mum, borrowed her retirement gratuity and invested another =N=500,000, roughly about $5,000 then!

That week he had earned $13,000 including commissions!

Sheet!

I could see my riches coming. My dream cars, my beach house. I prayed to God morning and evening thanking him for remembering me.

It was like a blessing for everyone, and naturally people poured into this scheme.

One day, I got a call from Nonso, the guy who invited me. He sounded desperate, his voice shaky as he asked me if I had checked my HYIP account. I said no.

"What's the problem, I asked?"

"I can't see the money in my account anymore", he said. "My money is gone."

When he said that, I felt my heart sink, my stomach turned and I suddenly felt sick. If I remember correctly, I think I pissed a little hot urine on myself.

"Where are you?" I asked. He was at a cybercafe town, so I jumped into a bus and went to meet him.

As I was logging into my own acount, my mouth was dry but my account opened!

"Ah! Thank God" I said.

Anyways, Nonso had requested for the HYIP company to send him $7,000 out of his $13,000 which was perfectly okay to do. You were allowed to request a payout anytime you want, between Monday - Friday.

However, after he had placed the request, he logged in a few days later, and his balance was no longer there. It had been wiped out. In fact the page that showed your account was no longer opening.

"It must be something wrong with your account I said. Have you emailed them?" He had emailed, but got no reply. Called the numbers on the website, but they were not going through.

So I placed a payout request of $100, and suddenly, my own account balance was wiped out.

Sweat started forming on my brows. I refresh the page again and again, still the same thing. The account balance page was no longer opening.

We went back to school hoping that things would change. It didn't. It took me several days to come to terms with the fact that my $200 abi $50 was gone forever.

Someone in Iran, Russia, Ukraine, only God knows where had taken my money and it was gone.

Nonso's mother's gratuity was gone. All the monies by those I introduced? Gone! I and Nonso became almost like outcasts in the school. Nobody wanted to deal with us anymore as far as business was concerned. We were blamed for the con.

Why am I telling you this story?

Because lately, I have been receiving offers from people to promote a ponzi scheme called MMM.

They tell me it's a business. That it works. That people have been paid money, blah blah blah.

I want to use this piece to write an article and wash my hands off this matter once and for all.

MMM is a ponzi scheme. Simple and short. I have been in business long enough to smell a scam from a thousands miles away, and this one is a big scam.

It's the return of the HYIP days of 2006.

Ponzi scams reinvent themselves every few years, change their name, wear "new clothes" and come out as the newest best thing since sliced bread.

In 2008, they returned as wonder banks - Nospetco, Gradual Investments, etc. In 2010 it was Clickviral. In 2012 - 2013, it was "Oil and Gas Investment" companies. Today it's MMM.

MMM is a scam. It is not a real business.

A real business has A PRODUCT to SELL, a product that adds value to the person buying it. There's an EXCHANGE of value between both sides - the buyer and the seller.

MMM doesn't have that. Rather it "pays" you a "commission" to refer people. Where does it get the money to pay these commissions? For how long can this be sustained?

What product does MMM sell? Why does an "investor" take his money and "gift" it to some stranger, and then wait for someone else to choose him and also "gift" him too?

If you don't get someone to choose you, then you wait and your money "grows"? Grows? How so? With fertilizer? Where will MMM get the money to pay you this percentage from? Will they steal it?

The most alarming thing about this stuff is this mysterious program is based in Russia. Russia? Are you kidding me? Anyone who knows anything knows that Russia is a country full of murderous mobsters who run illegal gambling operations, money laundering and prostitution rings.

They have since forever created similar programs to mop money up, transfers their illegal funds and pay off people to kill their rivals.

Are you unknowingly helping support a Russia mafia boss and putting innocent people in danger while perpetrating money laundering, illegal gambling and prostitution?

I will not be surprised if the EFCC swoops on the people who run these and guess who they will come after? Yes you the big gun who is pushing this everywhere.

And no, you cannot blame Buhari for your misfortune when it happens.

Frankly, it amazes me that people who should be knowledgeable are pimping this MMM stuff.

It's a scam. And it will collapse like all ponzis do. It's just a matter of time. If you really care about your audience and want their good, not just money that will enter your pocket by doing a seminar, then you will NEVER promote that poo.

It speaks volumes about the mentality of the general masses that they always gravitate towards a business "opportunity" that requires, "no work" and no "effort".

NEWSFLASH: The only way to make money is to actually provide something of value to another person in exchange for cash, not to give someone money and then wait for another person to give you.

What nonsense is that?

This is my last say about this MMM and similar cash gifting programs. I do not want any part of it. I do not wish to receive any further enquiry about it from anybody.

And please, next time before you come into my inbox with some frivolous questions about a program, do me and you a favour, fire up Google and do some research about it FIRST.

Thank you.

P.S. Please permission is granted to share this post if you want to.

Blessings.

nandyz:
Gentlemen my fellow nairalanders,, Mark Zuckerberg presently is Nigeria and people are celebrating him today,, initially when Facebook was developed, people said a lot of things about it,, some said, it is a site of Internet eniciation into cult n many other but today even my grandmother in her grave has Facebook account,,, So gentlemen,, don't about about this mmm,, Mavro has come to develop a platform to eradicate the mindset of poverty, so the every body can be independent on is own,,,, mmm is real,,, please if u have not join,, pls try to join.... OR u are looking for whom to borrow u cash,,, please use the little cash in u to provide help so that u can get help.... The earlier the better....

Ogbeni how do they get d profit they send to members. No mmm member can answer this, but still Una still they do the scheme.

mckoolcharming:



If only they will admit that banks are ponzi scheme, then I will agree that MMM is a ponzi scheme.

1. MMM is not an Investment program. We are helping ourselves to be financially free. The government has failed us and we have decided to help ourselves

2. MMM does not collect our money. We pay directly to other people's account.

3. MMM is not a company, as such, there is no point registering with SEC.

4. Is there any law in this country forbidding us to help our brother? If there is, then you can shut us down

5. If the government begins to gives us 24hours electricity, pay a minimum wage of NGN200,000 per month, employs everyone that is unemployed, then we can consider leaving MMM

No one is forcing you to leave....i can see you are fully convinced by it....- have done extensive research on it aand I saw a chance for it to be the biggest scam in social media....it ll get to a point they will match you with a personal account (acct of MMM organisers) that you should give the money to....remember it is termed HELP....so in court of law they cud use their terms n condition to win you, thinking deep you should ask yourself where ll they make the 30% interest given to you....surely some people ll be at d receiving end.....My thought tho!

If it sounds too good to be true...it probably is

Joel3:
this is how it works..

if you help someone. that amount let say N50k. this 50k will enters your mavro account. and it grows at 30% a month. at the end of 30days it will be N70k. so if you request for help. someone will help you with the N70 cash out. the person that help you with 70k another person will help that one at 30days. then u too can help another again and again just like that.

Yes! This is clear. However, at no point is money paid to MMM. People pay into each other's accounts. So, the question is: how does MMM make their money?

Alphafeezay:
Ask the government for loan..... They will be telling stories and dragging you front n back!
MMM pays!

How much loan has MMM given you and what have you used the loan for ?

A time will come when we will start hearing so many negative news from the Media about MMM. When that starts happening, know it that MMM has truly started changing the lives of many Nigerians beyond what we say among ourselves. Someone told me recently that the Cabals in the banking and Stock and Security Exchange Commission have concluded arrangements on launching a massive media campaign against MMM as they beginning to feel threatened that if MMM is allowed to strive, they will soon be out of business. But come to think about it, which oppressor will willingly give freedom to his slave? You no longer come to them to borrow and you expect them to sit back and watch? No, they will surely put up a fight, and that they are about to start. So, when you hear such rumours, just know it that you are already changing the world. And keep giving them the Mavro smiles

[quote author=Mrakthedream post=48973863][/quote]

Mrakthedream:

Hmmm...when and how?.Can you atleast show us a proof?You don't have to lie if you don't believe in it na.Let's see the proof if you really lost such money to MMM.

[quote author=aminho post=48974410][/quote]

ochuski:

Read d post.. Dey dint outrightly say its fraud n dey dont pay people. . What dey said is dat d activities of MMM are conspicuous because dey are not dully registered and should incase your money get missing in d future, u are to blame.

Wait o guys.. Technically, am suppose to be the FTP bcus mckoolcharming is d originator of d tread n cannot also be FTP...click like if u support the motion.
Therfore, i dedicate this FTP to all NDU students who after 4 months of strike are heading back to school tomorrow not knowing dat ASUU Nationwide has another supprise for all students soon. One love metarbulites

Which part of the post did u not understand. see the bolded below

The Securities and Exchange Commission has raised the alarm over the activities of some online fraudsters, who are currently running an online investment scheme tagged ‘MMM Federal Republic of Nigeria’.

The fraudsters, according to SEC, carry out their illegitimate business via Nigeria. portal/platform, and are promising investors a monthly investment return of 30 per cent.

aminho:
oga take it or leave it i lost 500k naira on mmm its a fraud

you lied.

I just dey observe sha, chk my signature and get a glimpse of MMM

MMM has over 10 safety nets which will never make it crash. And you Never notice But I will mention 10 out of them.

*1, Pause mode*

*2, 14 days defrost*

*3, Extension of the getting help hours*

*4, Seeking help from neighboring country*

*5, No central account attached*

*7,  Peer to peer  system*

*8,  Guider's efforts*

*9   PH match hours extension*

*10, Website upgrades and security*


*1, Pause mode*

This process is applied when the numbers of the people getting help is greater than the people help. The system will pause the GH transactions and allow more PH to come into the system for the duration of 2 and half months, then the system will now restart.

PH means provide help and the GH means get help


*2, 14 days defrost*

The participants will not be able to withdraw their money until after 14 days when the payments have been confirmed. During this process, more PH would have come into the system therefore there would be pool of cash to pay the old participants.


*3, Extension of GH hours*

this occur when there is a public holidays when the banks are not working therefore,  there won't be transaction and it may cause the problem to the system. The system will now extend the hours of the people who are getting help at that period to allow more People providing help into the system.


*4, Help seeking from neighboring country*

When there are more GH than PH in a country, MMM will look into the other countries which are doing well and match them together, pending the time that the affected country will be OK.


*6, No central account attached*

MMM  does not have a certain account that we are sending to. MMM doesn't collect your money.


*7, Peer to peer system*

Participants pay directly to the bank account of the other participants seeking help


*8, Guider's efforts*

Guiders are the heartbeat of MMM, guiders make sure each and everyone in MMM understand the Ideology of MMM and how it works


*9, PH  match hours extension*

When the system finds out that there are more GH than PH,  the system will extend the hour of old PH so that to hold down their order matches duration and during this period, the system will allow more new PH to come into the system to get it balanced.


*10, Website upgrades and security*

MMM spends million of dollars in taking care of their website to cub online fraud in MMM, such as scam and other Threats.

As I am posting now i am in a queue at UBA to pay in some money to MMM participants which my own will mature soon. MMM IS REAL.

MMM’S GLOBAL PYRAMID SCHEME 'COLLAPSES'!

RUSSIAN convict Sergey Mavrodi has allegedly gone into hiding after announcing that his Bitcoin-based MMM Global scheme had failed and was shutting down this weekend.

http://www.dailysun.co.za/News/National/alleged-sa-ponzi-scheme-mmms-global-pyramid-collapses-20160412-2

MMM (Ponzi scheme company)

МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s.[1][2] By different estimates from 5 to 40 million people lost up to $10 billion. The exact figures are not known even to the founders.

Joel3:
this is how it works..

if you help someone. that amount let say N50k. this 50k will enters your mavro account. and it grows at 30% a month. at the end of 30days it will be N70k. so if you request for help. someone will help you with the N70 cash out. the person that help you with 70k another person will help that one at 30days. then u too can help another again and again just like that.

.
.
Hello sir, good morning sir. Sir i have a question.
.
.
Sir lets say for example i helped some one and later someone requested for help from me and i don't have any more money what will happen?

scam or no scam, when you see so many people running to a particular investment, collect your cash and exit that investment, it is only a matter of time before it crumbles. Example; where are all the profit and capital from bank shares almost all Nigerians bought years back?

I wouldn't call it a scam, I received my 1st pay last week!
All the people around me know that it is not a tangible stuff and is likely to pack up anyway, that's my joy!
So it's more like a risk, and the website even tells you it is a risk and you shouldn't invest your life savings!

It would likely voters up soon now that this busybody SEC have join mouth, but I hope it lasts for another one month because I want to provide help today but with a smaller amount than I initially planned to use, I no fit shout abeg!

The fear of new people not joining is unfounded fear as for now, because there is a huge traffic of new comers! It is even taking more time before people are paired!

MMM is not a ponzi scheme, in ponzi scheme old investors don't put their money they get profit illegally from the new investors.

staggerman:


Nigeria's population is said to be about 180 million people. Imagine if each person donates N1 (one Naira) to one poor man, he will instantly have 180m Naira. If we keep doing that, donating One Naira to each poor family, all Nigerians will soon be rich.
This is our goal. This is our vision.

This portion of your post clearly exposes you as someone with poor financial knowledge and one who delves in fantasy instead of reality

unite4real:


Which part of the post did u not understand. see the bolded below

The Securities and Exchange Commission has raised the alarm over the activities of some online fraudsters, who are currently running an online investment scheme tagged ‘MMM Federal Republic of Nigeria’.

The fraudsters, according to SEC, carry out their illegitimate business via Nigeria. portal/platform, and are promising investors a monthly investment return of 30 per cent.

I dont get u
i never said anything about not understanding the post or is it dat u dont understand my comment?

mckoolcharming:
as I dey post I just received my pay for
MMM...... mmm is for real I swear

Do you even realise what a Ponzi scheme is ?

niggi4life:
you are still speaking chinese, simple question, how does MMM make their own profit since they don't accept those money, rather people send this money to each other?

traffic my brother, the same way Facebook, Google, Yahoo, Twitter is making their money from the data you are buying to browse their websites.

Hmmm. What a nation and desperation for people to make money

Kenbee001:
Watch it! Have you even tried to get into the system? It's well loaded with people wise enough to make hay while the sun shine instead of unnecessary drama

it is not fr everyone, it is for those who re ready to take the risk.....there re good ones and bad ones.someone I know flagged a bad one that just came into the country.

[quote author=aminho post=48974410][/quote]
Lol..which country is this?...I thought you are a Nigerian?...Nigerian Money is in NGN not CYN...I am still waiting for the real proof bro..not this fake screenshot..pls try harder...
Note:..It is "provide Help"....not "I want to provide help"...
I am stilll waiting for the real screenshot of your account not this fake rubbish.

IT IS A PONZI SCHEME SIMPLE AND SHORT. I AM REALLY AMAZED AT THE LEVEL OF IGNORANCE ON THIS THREAD. WHAT DO THEY DO WITH THE MONEY THAT THEY COLLECT FROM INVESTORS?

WHAT IS THEIR BUSINESS MODEL? WHAT LINE OF BUSINESS ARE THEY INTO? THEY DONT HAVE A REGISTERED OFFICE, NO RECOGNITION BY ANY OF THE REGULATORY BODIES, YET PEOPLE ARE SAYING IT IS NOT A PONZI SCHEME!

I FEAR FOR THE YOUTH OF THIS COUNTRY!