Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,152,991 members, 7,817,922 topics. Date: Saturday, 04 May 2024 at 11:01 PM

Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" - Investment (10) - Nairaland

Nairaland Forum / Nairaland / General / Investment / Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" (72328 Views)

10 Reasons Why MMM Is Dying And Will Soon Be Dead / Still On MMM Matter, Please I Need Urgent Response / SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud (2) (3) (4)

(1) (2) (3) ... (7) (8) (9) (10) (11) (12) (13) (Reply) (Go Down)

Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by nairacash1: 7:33am On Sep 13, 2016
KA24DETT:
My people. One Question. Where does the 30% interest they pay you come from What product are they offering to give you 30% return? Please be wise. This is a scam

I DON CHOP I DON TASTE THE MONEY. MY ONLY REGRET IS NOT JOINING WHEN I FIRST GOT THE MESSAGE IN DEC 2015.......
If you have any queries or need a step by step do it yourself pictorial registration guide and tips email bizokoro@gmail.com
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by Basalt(m): 8:04am On Sep 13, 2016
crownedrookie:

Ignorance speaking. "They" do not collect your money for one month. I have pledged over 2 weeks ago and my money is still in my pocket. I have no reason to be scared of mmm. When they pair me, I pay not into their account but that of a fellow Nigerian, and can withdraw as soon as I like because the requisite 2 weeks have passed. Inquire before speaking

Bros, the guy just asked a simple question, all these insults are uncalled for.

Long live MMM
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by Cheekah212(m): 8:10am On Sep 13, 2016
olamik123:
Government and SEC deprived you of diving into the wealth from bitcoin, is that fair?
Banks will be like, your money is safe with us, and my question is, is our money really safe? They use our money (because without u and I, nothing like bank) to give loans to companies and make huge interest, if they are giving me 5% monthly, i won’t be shouting instead they charge me for using my money for business. Billing you unnecessary charges and the worse part of it is that you can’t talk, even if you do, who will hear you? Bank will send you a credit alert or interest alert of #0.50k and charge #4 for the sms. And you said that one is not a legalized scam (you are wicked).
Politicians will be like vote for us, when you vote for us, we will do this do that. Your vote counts. Liars, the worst scams ever seen are the politicians, deceivers. The less privilege are the ones languishing in poverty but you are there living in luxuries, you denied us from going to the best schools because of the high fees but your children are in the best school outside the country. And you think you are not a scam? You are deceiving yourself.
School will be like read your book and make sure you pass very well so that you can get a good job, where is the job? 6Years in primary, 6yrs secondary school that is if you didn’t repeat any class then 4 yrs in tertiary institution as the case may be plus another 1yr of youth service and after all these years no job to be found and you said that is not a scam?
You subscribe to DSTV, after you might have paid your NEPA bill of which you only get light in the middle of the night around 1am -5am, tell me who want to use the light? And DSTV management could not even pause the operation for you since you are not using the service, that is non of their business and at the end of the month, NEPA will still come with an estimated bill of which you can’t shout, if you do, they will cut your wire and assume you did nothing to it for a month, you still pay for that month despite you didn’t use light and when you want to reconnect, you will pay reconnection fee. is that not a scam?
If I should continue disclosing all their scams, facebook won’t be enough to accommodate it.
We have been in this slavery long enough, we can’t take it any more. It is obvious they do not want the average man to live the better life that we suppose to.
MMM has come to stay and not SEC nor Government can stop it
They said MMM is a scam, yes we know
is a ponzi scheme, yes we are aware of that
is a fraud, yeeeessss we know about that also
Ah, the founder is a thief, yes we read about that, we even read that he was jailed, and so what?
MMM is too risky (Abeg shut up that dirty mouth)
I’ve been taking risk since i was born, living in Nigeria (where there is no security, if its not boko haram today, it will be fulani herdsmen or some stupid avengers and their kinsmen kidnappers etc) is the greatest risk one can take and if i have been living in it for more than 40yrs with the risk attached, i tell you the truth, i can overcome any risk.
We are risk takers
We are scammers
We are ponzians
We are Mavrodian
We are MMM
God bless you for this.
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by Basalt(m): 8:15am On Sep 13, 2016
sevule:
[size=14pt]MMM IS A SCAM!!!
MMM IS A SCAM!!!
MMM IS A SCAM!!!
[/size]

Apparently Nigerians have forgotten that awoof dey run belle. For heavens sake MMM is nothing more than a glorified Ponzi scheme, do people ever learn? Even the official description shows that MMM is a giant scam. See the description below especially the part in bold:

In MMM, u provide help (that is donate any amount starting from 1000naira to 3.8million naira) of any amount and in 30 days u get 30% of your money + the amount in 30days paid directly into your bank account.

Please how does providing help translate to getting 30% interest? When you help a person do you get your money back with 30% interest?
Of course people are getting their money back with 30% interest but the question is HOW IS MMM MAKING MONEY TO PAY PEOPLE 30% INTEREST?
You CANNOT and I repeat you CANNOT make money from thin air as MMM is doing. The money that is paid to 'investors' is gotten from new money that is brought in by new mugus. This is the definition of a Ponzi scheme.


Mr wise man congratulations for your wisdom.
Now can you do us the favour of watching us make 60k every month?

Lol

2 Likes

Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by B2mario(m): 8:28am On Sep 13, 2016
Hi my people, I'm Derson from mmm Nigeria. I've seen your comments on this thread and I am here to help you. mmm is good and has come to help us financially. you can register using this, just click on on it. you are good to go. http:///?i=donandyomaria@yahoo.com. ask question if there's any confusion. thanks
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by duruallwell25(m): 8:29am On Sep 13, 2016
crackhouse:
if they shut down the site how will they scam people of their money since the money is not paid in their acct so they have nothing to gain if they shut down. I think the SEC is not happy because they didn't register with their commission and that's why they branded it fake and scam.
If they shut down the site, how will they scam people of their money since the money is not paid in their account? Very simple. If they plan to shut down the system this month, all the people that Provide Help will be "matched" to their special account numbers created by them.
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by duruallwell25(m): 8:32am On Sep 13, 2016
godman01:

So, how do they themselves gain through that?
All the people who want to provide help for that month will be given special account numbers and not account numbers of those who want to Get Help as all GH will be on hold
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by mn09abk: 9:32am On Sep 13, 2016
Babzilla:


Hey Mr. Im not deterring anyone okay. I said my piece which is contrary to your beliefs. Must I agree with U?
When I eventually join Hahahahahhaa. It will be a cold day in hell before I put on the cap of stupidity.. kep waiting tsk tsk
Hahahaha Bros leave them...Nobody can ever Bernie Madoff me
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by micky2004: 9:46am On Sep 13, 2016
goldedprince:

Keep waiting. Una eye go clear very soon
Na your own eye go clear very soon say na you dey lose,I will rather be scammed by MMM than wait for this Useless Government who promised me Change but instead put me in Chain now MMM come and Unchain me financially and they still call it a Scam infact, God will punish anybody that Call MMM a Scam.

2 Likes

Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by goldedprince: 10:05am On Sep 13, 2016
micky2004:
Na your own eye go clear very soon say na you dey lose,I will rather be scammed by MMM than wait for this Useless Government who promised me Change but instead put me in Chain now MMM come and Unchain me financially and they still call it a Scam infact, God will punish anybody that Call MMM a Scam.
Where this idiot from na
Na me make u poor?
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by hotznewz: 11:01am On Sep 13, 2016
Sorry to bother you guys but this might be just helpful to one or two persons who needs more customers for a product or wants to spend ZER0 Naira as advertising cost.

Check it out http://ad.naijaobserver.com is a free Ad Network that takes your blog/site traffic to the next level. You are guaranteed a 50% revenue increment.

Signup today and get 1000 FREE token.

The more your traffic the more your revenue.
Don't miss out.
http://ad.naijaobserver.com/signup

Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by Nobody: 11:40am On Sep 13, 2016
micky2004:
Na your own eye go clear very soon say na you dey lose,I will rather be scammed by MMM than wait for this Useless Government who promised me Change but instead put me in Chain now MMM come and Unchain me financially and they still call it a Scam infact, God will punish anybody that Call MMM a Scam.
full amen
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by Nobody: 11:55am On Sep 13, 2016
urgent buyer for two plots of land measuring 648msq. at treasure parks and gardens (golf & estate)phase 1 ext.,shimawa,behind redemption camp,off lagos-ibadan express road.currently been sold at 4,000,000 per plot by adron homes properties and estimated to sell for 6,000,000 before year end.each plot is going for a discounted rate of 3M per plot for any interested person.title doc available are,a duly executed purchase receipt,deed of contract,deed of lease/deed of assignment,survey plan,letter of plot allocation,land covered with global certificate of occupancy.price negotiable!
HURRY call/whatsapp 08034637732
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by nairacash1: 12:37pm On Sep 13, 2016
Falil:
urgent buyer for two plots of land measuring 648msq. at treasure parks and gardens (golf & estate)phase 1 ext.,shimawa,behind redemption camp,off lagos-ibadan express road.currently been sold at 4,000,000 per plot
Abeg u fit wait make my 3.3M enter by 19th.....lol.
I DON CHOP I DON TASTE THE MONEY. MY ONLY REGRET IS NOT JOINING WHEN I FIRST GOT THE MESSAGE IN DEC 2015.......
If you have any queries or need a step by step do it yourself pictorial registration guide and tips email bizokoro@gmail.com
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by kester113(m): 1:06pm On Sep 13, 2016
olamik123:
Government and SEC deprived you of diving into the wealth from bitcoin, is that fair?
Banks will be like, your money is safe with us, and my question is, is our money really safe? They use our money (because without u and I, nothing like bank) to give loans to companies and make huge interest, if they are giving me 5% monthly, i won’t be shouting instead they charge me for using my money for business. Billing you unnecessary charges and the worse part of it is that you can’t talk, even if you do, who will hear you? Bank will send you a credit alert or interest alert of #0.50k and charge #4 for the sms. And you said that one is not a legalized scam (you are wicked).
Politicians will be like vote for us, when you vote for us, we will do this do that. Your vote counts. Liars, the worst scams ever seen are the politicians, deceivers. The less privilege are the ones languishing in poverty but you are there living in luxuries, you denied us from going to the best schools because of the high fees but your children are in the best school outside the country. And you think you are not a scam? You are deceiving yourself.
School will be like read your book and make sure you pass very well so that you can get a good job, where is the job? 6Years in primary, 6yrs secondary school that is if you didn’t repeat any class then 4 yrs in tertiary institution as the case may be plus another 1yr of youth service and after all these years no job to be found and you said that is not a scam?
You subscribe to DSTV, after you might have paid your NEPA bill of which you only get light in the middle of the night around 1am -5am, tell me who want to use the light? And DSTV management could not even pause the operation for you since you are not using the service, that is non of their business and at the end of the month, NEPA will still come with an estimated bill of which you can’t shout, if you do, they will cut your wire and assume you did nothing to it for a month, you still pay for that month despite you didn’t use light and when you want to reconnect, you will pay reconnection fee. is that not a scam?
If I should continue disclosing all their scams, facebook won’t be enough to accommodate it.
We have been in this slavery long enough, we can’t take it any more. It is obvious they do not want the average man to live the better life that we suppose to.
MMM has come to stay and not SEC nor Government can stop it
They said MMM is a scam, yes we know
is a ponzi scheme, yes we are aware of that
is a fraud, yeeeessss we know about that also
Ah, the founder is a thief, yes we read about that, we even read that he was jailed, and so what?
MMM is too risky (Abeg shut up that dirty mouth)
I’ve been taking risk since i was born, living in Nigeria (where there is no security, if its not boko haram today, it will be fulani herdsmen or some stupid avengers and their kinsmen kidnappers etc) is the greatest risk one can take and if i have been living in it for more than 40yrs with the risk attached, i tell you the truth, i can overcome any risk.
We are risk takers
We are scammers
We are ponzians
We are Mavrodian
We are MMM
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by glamz007(m): 1:11pm On Sep 13, 2016
dirtymoney:
They should keep their warnings to themselves.
Banks rob their customers everyday and SEC/CBN have said nothing about it.
Go and ask how much interest you'd enjoy for 6 months on an investment of 1,000,000.00 you'd be shocked. Even the so called T-bills is nothing to write home about. Federal Government bonds that seems to be an option had been hijacked by the same SEC/CBN officials.
We have some cooperatives sef that give you between 5-10% of your capital every month without any charge. I mean every month!!!!!

The CBN's case is even worse, one thing that pains me about their own aside their shaddy recruitments and "fat bonuses" is them going as far as selling mint (new notes) to blackmarketters who sell them on the streets. That's why you hardly see new notes in banks again but you find it on the streets.

There is a clear warning and disclaimer on MMM's site, T and C's of the scheme is clearly stated and the whole modus operandi is there on their site.
Noone is forced to venture into it.
if banks make so much profit I wonder why they layoff dia staff almost all d time?
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by kinswhite(m): 2:47pm On Sep 13, 2016
emerich:
My no, 08030403297 U can add me up on whatsapp, Tnx bro.
welcome
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by Nobody: 4:50pm On Sep 13, 2016
duruallwell25:
All the people who want to provide help for that month will be given special account numbers and not account numbers of those who want to Get Help as all GH will be on hold
Negative reasoning, fear, and pessimism will not take you anywhere. A lot of people have missed good opportunities because of allowing negative thoughts, emotions and predictions dominate and control them.

Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by Nobody: 5:08pm On Sep 13, 2016
glamz007:

if banks make so much profit I wonder why they layoff dia staff almost all d time?
Banks lay off staff on the mid and low earners tier of their workforce as a supposed tool for cutting costs when market and economic situations seem not to be favorable. This does not affect the renumeration of their top shots whose pay package is equivalent to that of over 100 staff on the mid and low earners tier of their workforce. I know of EDs in banks that fly private jets and own apartment in banana island and other high brow neigbourhood.
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by athorello(m): 5:55pm On Sep 13, 2016
polariss:
now I get it..even without waiting for the said 30 days,you still get your 30%
The 20 USD bonus made it up to that. You get the full 30% if you wait a month to cash out.
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by learnmails(m): 6:32pm On Sep 13, 2016
MMM is not a scam, and it also advice you to use only spare money not all you life savings. As for me, I am enjoying the 30%. cos I have cash out thrice and about cash another. in case you want to register/join use my mail as your invite kwiz4life@gmail.com
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by duruallwell25(m): 8:18pm On Sep 13, 2016
NnaaGuy:
Negative reasoning, fear, and pessimism will not take you anywhere. A lot of people have missed good opportunities because of allowing negative thoughts, emotions and predictions dominate and control them.
Nobody says MMM is not paying. I have friends who have GH but the problem is being blind to the scheme's possible failure just as it failed in other countries. Mavrodi was convicted of fraud, the scheme was banned in China, SA, Russia etc. So wake up from ur self deceit. It pays no doubt but know when to press the exit button cos MMM will soon be history.
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by winkmart: 9:07pm On Sep 13, 2016
goldedprince:

Interesting, so how do they pay you 30% of your investment in 3 months

You not getting it, Mmm is not paying anybody, we the members are paying one another. Period.

Enjoy ur life.
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by charlsecy(m): 9:24pm On Sep 13, 2016
duruallwell25:
If they plan to shut down the system this month, all the people that Provide Help will be "matched" to their special account numbers created by them.
Millions of people participate in the movement...
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by glamz007(m): 10:57pm On Sep 13, 2016
dirtymoney:

Banks lay off staff on the mid and low earners tier of their workforce as a supposed tool for cutting costs when market and economic situations seem not to be favorable. This does not affect the renumeration of their top shots whose pay package is equivalent to that of over 100 staff on the mid and low earners tier of their workforce. I know of EDs in banks that fly private jets and own apartment in banana island and other high brow neigbourhood.
pls mention the ED da flies private jet... u can go on justifying MMM. atleast educate the illiterates abt d negative impact so they r not mislead. thanks
Re: Nigerians Ignore SEC's Warning On MMM, Say "MMM Is Not A Scam" by Nobody: 10:58pm On Sep 13, 2016
This same thing happened in 2007/2008 when Notspetco, and a host of other such schemes went bust.

Of course it pays for a while, as long as more people keep joining. Notspetco operated for more than 5 years or so. But when it crashed ehn...
Thank God I withdrew my money from Notspetco shortly before it crashed, but I lost over 1 million naira in the others.

I've promised myself, never again.

When such schemes are underground, they flourish, but once everyone starts getting aware, that's when the crash happens.

Mark my words, the crash is coming.

(1) (2) (3) ... (7) (8) (9) (10) (11) (12) (13) (Reply)

Nigerian Stocks To Buy - 2024 Best Performing Stocks / Guide To Cosmetics Production And Profitability In Nigeria / MMM: Is It Only Me That Observe This?

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 74
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.