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SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud - Investment (14) - Nairaland

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Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by wealth123: 2:54pm On Sep 01, 2016
Oga, do your research before spewing trash here. MMM is operating in the USA live. Why all this ado about nothing. Did anybody borrow money from you to put in MMM? Are people not free to do what they like with their money? MMM is a financial virus, if you try to kill it, you are just wasting your time, it will spring up again. Check the history of MMM since 1989.
My advice is leave MMM alone or join them. The choice is yours. If people join and lose their money, did we not lose money in shares controlled and regulated by SEC? What about all the money lost by depositors of failed Banks in the past? All of us are losing the value of our Naira daily due to exchange rate caused by fraudulent politicians and mismanagement of the economy. Why can't we talk about that?
Thunder will fire anybody that makes any negative comments about what they do not know and are not ready to learn. Must this slavery continue? What is the way out should be our concern.
AnonyNymous:
For the people defending MMM on here, why don't you go set up a branch in say, the United States and see if you won't be locked up grin grin Its only in unexposed countries like Nigeria and other third world countries that these business 'models' can survive.

2 Likes

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 2:56pm On Sep 01, 2016
wealth123:
Oga, do your research before spewing trash here. MMM is operating in the USA live. Why all this ado about nothing. Did anybody borrow money from you to put in MMM? Are people not free to do what they like with their money? MMM is a financial virus, if you try to kill it, you are just wasting your time, it will spring up again. Check the history of MMM since 1989.
My advice is leave MMM alone or join them. The choice is yours. If people join and lose their money, did we not lose money in shares controlled and regulated by SEC? What about all the money lost by depositors of failed Banks in the past? All of us are losing the value of our Naira daily due to exchange rate caused by fraudulent politicians and mismanagement of the economy. Why can't we talk about that?
Thunder will fire anybody that makes any negative comments about what they do not know and are not ready to learn. Must this slavery continue? What is the way out should be our concern.
Here is the 'research' you asked for

https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by staggerman(m): 2:58pm On Sep 01, 2016
PaulIdu:


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

With all your financial knowledge, how many lives are you affecting positively?

Coming online to attack people who have freedom to do what they want with their money.... Let go of envy.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by switch47(m): 3:03pm On Sep 01, 2016
as for me, i invested into MMM got my profit after 3 months and i am only investing from the profit now so i can never lose money .... MMM pays
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by natakin(f): 3:04pm On Sep 01, 2016
AnonyNymous:

Here is the 'research' you asked for

https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

Zombie ooo zombie (fela anikulapo's tone)
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by natakin(f): 3:05pm On Sep 01, 2016
switch47:
as for me, i invested into MMM got my profit after 3 months and i am only investing from the profit now so i can never lose money .... MMM pays

Although MMM pays..thats the wrong mind set bro
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by natakin(f): 3:09pm On Sep 01, 2016
AnonyNymous:

Here is the 'research' you asked for

https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

But wait o..how can you read wikipaedia and say you have done research....i dont understand...
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Iykecollins(m): 3:12pm On Sep 01, 2016
delerx:
The only reason I have not joined is cos I don't believe in making money without stress. MMM is the easiest way to make money
Change your mentality bro a lot of persons are making lots of money by just working two hours a day, until your money starts working for you you will never know financial freedom.

About MMM I have carefully studied it, it will last a long time in Nigeria as long as there are more people giving help than those receiving and the system is such designed that it takes a longer time before one can get his 30% within this one month more people will join, older members will put in money back cos the system is designed in such a way that you will always be in the system either giving help or receiving and it is time regulated meaning consistent money in the system.

The only thing that will crash it fast is if there is panic and people decide to withdraw at the same time, low PH and new members not signing in.

This is equally what is sustaining most banks cos as customers decide to withdraw all at the same time, the bank will crash they may not even have enough liquid cash to pay.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 3:17pm On Sep 01, 2016
wow, read this thread from beginning to end. very insightful, well for now MMM has come to stay and have saved lives too. Whether we like it or not God used MMM to bring Nigerians from poverty. go to their website see young nigerians who hitherto were hopeless becoming overnight millionaires just by observing the simple injunction in the bible give and it shall be given unto you. Whether it would crash or not is none of my concern, it is an opportunity in our time. it would cease to exist when is time but meanwhile it is advisable to make use of the opportunity. Right now the community is growing from few thousand last year to over 500k participants. MMM is not interested in milking anyone but rather to help us. even on their site it is boldly written participate with spare money. dont invest all your savings. for the naysayers and the doubting Thomases, it is allowed but i want to tell you in due time there would be a financial tsunami and is only the risk takers that would overcome.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by PaulIdu: 3:18pm On Sep 01, 2016
staggerman:


With all your financial knowledge, how many lives are you affecting positively?

Coming online to attack people who have freedom to do what they want with their money.... Let go of envy.

You are right I should mind my business afterall it's not my money they are using in MMM

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 3:19pm On Sep 01, 2016
in addition just landed a new ride with MMM.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 3:19pm On Sep 01, 2016
Really? Seems the failure story have bn hearing about this scheme have been coming from those who invest a whole lot. The same fiasco was shared by another guy who lost 200k, I guess the owners of the scheme have calculated that with 500k, you will likely wreck them. If u get 700k in a month the gain of 200k u make would amount to to about 20 new comers joining the scheme at 10k each, hence reducing the chances of survival of the scheme. Hmm pls share more how dd u and ur friend feel? How did it really go, pls can u enlighten more on this cos I have a friend who is willing to risk his live savings on it just for a month and pulls out. I have been dissuading him but the success stories he has heard so far seem to attractive for him. Pls share more on ur experience with ur friend as well. Tnx
aminho:
oga take it or leave it i lost 500k naira on mmm its a fraud
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by natakin(f): 3:19pm On Sep 01, 2016
Guyman02:


Stop deceiving people who would come here to cry when the perpetrators of this robbing Peter to pay Paul scam flees with their money. Old Mugus can collect their profit from new mugus and run, while new mugus are advised not to join MMM Ponzi scheme

Have you ever stopped for a moment and think...ask yourself..why are people shouting MMM...be a wise judge...listen to both parties and reach a logical conclusion...

MMM cannot be a ponzi because in ponzis or pyramids, older members are nit expected to invest after their first investment
But in MMM everybody is required to provide help for he that needs help and also can request for help as at when due...

One of the ironies of the information age is how it’s turning out to obscure rather than improve our understanding of what’s really going on. The pressure to report quickly errs towards unverified reporting, or reporting based on facts distributed via unchecked sources or biased lobby groups intent on propagating causes, which in turn leads to an abundance of misinformation which confuses everyone.

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 3:20pm On Sep 01, 2016
helovesme:
Do people still remember the other very popular Ponzi scheme/scam "SEFTEG"?

I'm utterly shocked to find out that people are still falling for these scams.
I remembered the days of Penny wise ( 2006 therabout).
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 3:22pm On Sep 01, 2016
[quote author=jackson44 post=48972166][/quote]Bros, and what happens when old members decide not to put their money back into the system, after benefitting enough and they feel it's high time they chickened out of the investment before it crashes which would
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Hallenjay: 3:26pm On Sep 01, 2016
tuniski:


Wake up it is a fraud! They collect other People's cash to pay those who are older with them, immediately new mugu are not joining they will collapse!
and d old mugus continue providing help because of d trust so do money keep rotating
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 3:38pm On Sep 01, 2016
jaybillionaire:
Bros, and what happens when old members decide not to put their money back into the system, after benefitting enough and they feel it's high time they chickened out of the investment before it crashes which would
it is expected you provide help regularly so after two months of no activity you will be removed. see MMM is not looking for members. if i tell you how many have been banned from the system you wont believe. the model is self sustaining, people join on their own volution. human psychology; how can you pull the plug on a system that pays your bills infact if you are not careful you will add more investment in that case greed has set in. understand the ideology. they said south africa mmm has been banned but go to their site people are cashing out
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Horllamideh(m): 3:41pm On Sep 01, 2016
Efewestern:


Bro don't waste your time arguing with them.. I got some of my frnds doing it... Nigerians re very gullible..
one Baptist church in my hometown nearly scatter back then around 2007/8 when the pastor withdrew half-a-million naira from the church account to put into this MMM-like scheme called "Orion" then. The same pastor has been vocal speaking against the program but he did invest in the program and the thing packed up that same month. the wahala that thing cause for the church ehn......thank God the church survived sha.

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by natakin(f): 3:48pm On Sep 01, 2016
Anybody with the correct MMM website..i will like to be part of MMM...

I realise we need true change...too many lives have been touched positively..i now understand the hate...Nigerians are wicked..they hate to see their neighbours smile....thats why a generating set can be called i better pass my neighbour

2 Likes

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by natakin(f): 3:51pm On Sep 01, 2016
Horllamideh:

one Baptist church in my hometown nearly scatter back then around 2007/8 when the pastor withdrew half-a-million nairaland from church account to put into this MMM-like scheme called "Orion" then. The same pastor has been vocal speaking against the program but he did invest in the program and the thing packed up that same month. the wahala that thing cause for the church ehn......thank God the church survived sha.

I can pardon you because you are from a village...but how is MMM related to your pastors scheme..like pastor like congregation...

MMM members are saying there lives have been touched..more than 500k people...and you are saying Orion...Abolosi ni eleyi ni
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Guyman02: 3:58pm On Sep 01, 2016
wealth123:
Oga, do your research before spewing trash here. MMM is operating in the USA live. Why all this ado about nothing.
Thunder will fire anybody that makes any negative comments about what they do not know and are not ready to learn. Must this slavery continue? What is the way out should be our concern.

See my research here oga and stop fooling people before thunder will strike you for joining hands with foreigners to swindle Nigerians
https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Guyman02: 3:59pm On Sep 01, 2016
natakin:
Anybody with the correct MMM website..i will like to be part of MMM...

I realise we need true change...too many lives have been touched positively..i now understand the hate...Nigerians are wicked..they hate to see their neighbours smile....thats why a generating set can be called i better pass my neighbour

Igbos say that 'a stubborn fowl will only be humbled in a pot of soup'
See the website here
https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Efewestern: 3:59pm On Sep 01, 2016
Horllamideh:

one Baptist church in my hometown nearly scatter back then around 2007/8 when the pastor withdrew half-a-million naira from church account to put into this MMM-like scheme called "Orion" then. The same pastor has been vocal speaking against the program but he did invest in the program and the thing packed up that same month. the wahala that thing cause for the church ehn......thank God the church survived sha.

Nigerians don't think.. they re very lazy.. that y the crime rate is high.. You can't try this in USA or even Korea.. we have sharp mind there .

Even bank can't give you 30% ROI, mmm only get fund wen new people register or we some1 PH , .. let's watch as things goes.. a word they said is enough for the wise .. Am so happy seun ban the link so dey don't deceive Nlanders ..

2 Likes

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by dmostcheerful(f): 4:08pm On Sep 01, 2016
AnonyNymous:
For the people defending MMM on here, why don't you go set up a branch in say, the United States and see if you won't be locked up grin grin Its only in unexposed countries like Nigeria and other third world countries that these business 'models' can survive.
And who told you MMM is not in the US already?
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Superheroman: 4:24pm On Sep 01, 2016
MMM is in fact a holy and sanctified scheme. Its principle is rooted in the word of God." Give and it will come back to you...."
It also creates room for an equal distribution of resources and money. Prior before now the bank and the bourgeois use our money in the bank to do business and no interest will accrue to the common man. They will gather the entire interest to themselves. Now we use our money for business and to help each other. Cunny man die cunny man bury am.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by KaiteMillions: 4:33pm On Sep 01, 2016
I made NGN633,000.00 from NGN250,000.00 within 2 months.

you too can do the same.

http://nigeria- mmm .net /?i=danzielo@yahoo.com

see evidence

1 Share

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by yetunsbay(m): 4:43pm On Sep 01, 2016
wordcat:


Tell that to the interested would be members as for me, I don't need such help and I don't do such help.
then u'll agree with me that u've wasted yr time being here
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by aminho(m): 4:43pm On Sep 01, 2016
jaybillionaire:
Really? Seems the failure story have bn hearing about this scheme have been coming from those who invest a whole lot. The same fiasco was shared by another guy who lost 200k, I guess the owners of the scheme have calculated that with 500k, you will likely wreck them. If u get 700k in a month the gain of 200k u make would amount to to about 20 new comers joining the scheme at 10k each, hence reducing the chances of survival of the scheme. Hmm pls share more how dd u and ur friend feel? How did it really go, pls can u enlighten more on this cos I have a friend who is willing to risk his live savings on it just for a month and pulls out. I have been dissuading him but the success stories he has heard so far seem to attractive for him. Pls share more on ur experience with ur friend as well. Tnx

https://www.nairaland.com/3322418/danger-mmm-lost-close-18
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Codes151(m): 5:00pm On Sep 01, 2016
Stupid country! Scam, and una still dey allow dem operate!? Mumu country
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 5:15pm On Sep 01, 2016
igwegeorgiano:
yes ma guy me too. my younger sis pledged help with 1m on the 2nd of august and just yestyday she got help of 1,670,000. referal bonuses inclusive. the media war against MMM will never stand.
who do u think u're fooling? How does your figure translate to 30% interest in a month. So are you now telling me 30% now has transmogrified into 67%? I laugh grin

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by informato: 5:19pm On Sep 01, 2016
Horllamideh:

one Baptist church in my hometown nearly scatter back then around 2007/8 when the pastor withdrew half-a-million nairaland from church account to put into this MMM-like scheme called "Orion" then. The same pastor has been vocal speaking against the program but he did invest in the program and the thing packed up that same month. the wahala that thing cause for the church ehn......thank God the church survived sha.
..your fake pastor
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by AuroraB(f): 5:23pm On Sep 01, 2016
jaybillionaire:
who do u think u're fooling? How does your figure translate to 30% interest in a month. So are you now telling me 30% now has transmogrified into 67%? I laugh grin
cheesy cheesy cheesy cheesy cheesy cheesy cheesy cheesy

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