Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,175,337 members, 7,894,442 topics. Date: Friday, 19 July 2024 at 10:02 AM

Why You Should Stay Away From MMM Nigeria - Business - Nairaland

Nairaland Forum / Nairaland / General / Business / Why You Should Stay Away From MMM Nigeria (422045 Views)

Letter From MMM Mavrodi To Nigerian Journalist & Bloggers! / Unveiled: How MMM Owners Make Millions Of Money From MMM / MMM Nigeria: Ponzi Scheme, Robbing Peter To Pay Paul? TheGuardian (2) (3) (4)

(1) (2) (3) (4) (5) (6) (7) (8) (9) (Go Down)

Why You Should Stay Away From MMM Nigeria by drizzymadbet(m): 2:37pm On May 26, 2016
It is obvious that many Nigerians(Nairalanders) are getting aware of this current Pyramid scheme trending in Nigeria called MMM Nigeria (http://www.) which promises 30% Return on Investment(ROI) after 30 days.

I called the business a Pyramid/Ponzi scheme, Yes I did, Why would drizzymadbet call it a Pyramid/Ponzi Scheme ? First let’s examine what a Ponzi/Pyramid scheme is one should be wary of MMM Nigeria

A Ponzi scheme (also a Ponzi game or a Ponzi) is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.

Initially the promoter will pay out high returns to attract more investors, and to lure current investors into putting in additional money. Other investors begin to participate, leading to a cascade effect. The "return" to the initial investors is paid out of the investments of new entrants, and not out of profits. Often the high returns encourage investors to leave their money in the scheme, with the result that the promoter does not have to pay out very much to investors; he simply has to send them statements showing how much they have earned. This maintains the deception that the scheme is an investment with high returns.

Unraveling of a Ponzi scheme

When a Ponzi scheme is not stopped by the authorities, it sooner or later falls apart for one of the following reasons.

1. The promoter vanishes, taking all the remaining investment money.

2. Since the scheme requires a continual stream of investments to fund higher returns, once investment slows down, the scheme collapses as the promoter starts having problems paying the promised returns (the higher the returns, the greater the risk of the Ponzi scheme collapsing). Such liquidity crises often trigger panics, as more people start asking for their money, similar to a bank run.

3. External market forces, such as a sharp decline in the economy (for example, the Madoff investment scandal during the market downturn of 2008), cause many investors to withdraw part or all of their funds.

Why do I drizzymadbet believe that MMM Nigeria is a pyramid/Ponzi scheme lets look at the following reasons.

1. The promise of a 30 % ROI is outrageous and not in terms with standard rates of investment (Example one makes a profit of 30,000 naira for every 100,000 naira invested in the system in 30 days , excluding additions that comes from referral, signing up and testimonial bonuses) No legal financial company can offer you that investment plan.

2. Such “Return on Investments” been paid to older clients are money received from new clients and the circle continues, the 30% is never made from company profits. That is why there is aggressive ad campaign from the company(MMM Nigeria) paying massive additional bonuses to recruiters that they call guiders to conduct seminars and deceive gullible Nigerians into joining the scheme to keep the system alive.

3. The CEO of the company (MMM Nigeria) Seigei Marvrodi is a convicted fraudster and had run similar fraud schemes in Russia where he defrauded investors over a hundred billion dollars (https://en.m.wikipedia.org/wiki/MMM_(Ponzi_Scheme_Company)

More details later...

123 Likes 22 Shares

Re: Why You Should Stay Away From MMM Nigeria by Abacharles(m): 2:52pm On May 26, 2016
noted

4 Likes 4 Shares

Re: Why You Should Stay Away From MMM Nigeria by kepstone: 4:40pm On May 26, 2016
Stop saying nonsense

293 Likes 15 Shares

Re: Why You Should Stay Away From MMM Nigeria by Liquid2Metal: 5:10pm On May 26, 2016
So what solution are u providing? Please keep quiet if u don't have any better alternative. From all u have said, you were paid to write this trash, you don't an idea of how MMM Nigeria works. FOI, I have made a lot already and am still making more. You better come in and see things for your self or keep quiet. embarassed tongue cool

293 Likes 16 Shares

Re: Why You Should Stay Away From MMM Nigeria by tarajohn(f): 7:17pm On May 26, 2016
@drizzymadbet, first off, for you to make a honest review or judge something, u must have used or been involved with that thing. Its obvious I've never been involved in MMM as your posts shows you don't know much about this opportunity.

Secondly, MMM is not a scam, an MLM, HYIP, Bank or Investment company. MMM is a DONATION COMMUNITY where members have decided to help themselves gratuitously, without collateral, provide financial help to each other.

Thirdly, MMM advertises because of the way it works. Even the Banks and organizations do aggressive advertising. Even the banks need more customets to survive. MMM operates the way a stockvel operates. The point is, whose money has Sergei Mavrodi stolen. No member of MMM , anywhere in the world gives hus or her money to Mr. Mavrodi. When u join MMM, u do not give your money to MMM. MMM or MMM founder Mr Mavrodi, I repeat, does not collect a dime from anyone anywhere in the world. We members give money to each other. We pay directly into the others Bank account. ....so how does Sergie run away with your money. Please answer this @drizzymadbet.

MMM has enemies, the politicians, the banks, government and press. Why? Please go do your research very well. Then u will find the answer. I want u to go do that research, when u find it, only then you'll be convinced to join MMM.

Mr. Mavrodi has made his money way back before MMM. His aim and ideology about MMM is to fight against the unjust financial system of the world; which makes the poor poorer and rich richer thought its the poor who does the hard work. The Bank takes your money in the pretence of keeping it for you. You keep it there for years. How much do they give u as interest Peanuts! Mr Mavrodi belives no government can make the masses rich, no politician or rich person will come to make you rich. He believes, the masses must take the bull by the horn by helping each other and that is why he put this system in place for everyone to take advantage of. Again. Mr. Mavrodi nor MMM does not collect money on his website or from anyone. Mr. Mavrodi is a Mathematician, a programmer and he only set up this system to help the masses. MMM has changed my financial status!!!

Mmm has been in existence for five years in over 100 countries of the world. #mmmpays. It has been paying everyone for five years. #MMM has paid me severally, I've lost count. #MMM is NOT A SCAM!

538 Likes 45 Shares

Re: Why You Should Stay Away From MMM Nigeria by Democivil: 8:20pm On May 26, 2016
may b the guy is a banker.... stupid idiot.

97 Likes 6 Shares

Re: Why You Should Stay Away From MMM Nigeria by exceedingrace64(m): 8:31pm On May 26, 2016
Why not find out first, how the Programe works before coming here to make a mockery of yourself. from your explations,its obvious you don't have an understanding on how it operates.The business is not for people like you.

64 Likes 3 Shares

Re: Why You Should Stay Away From MMM Nigeria by Democivil: 8:39pm On May 26, 2016
infact, am feeling like strangulating the guy... dont even know what to say to him. enemy of progress.

59 Likes 5 Shares

Re: Why You Should Stay Away From MMM Nigeria by kepstone: 10:27pm On May 26, 2016
Let him just keep shut....mechenu there...MMM rocks let people keep waiting, mutual aid community is legal across d world.

25 Likes 2 Shares

Re: Why You Should Stay Away From MMM Nigeria by newdawn09(m): 10:36pm On May 26, 2016
It is illiteracy combined with ignorance that is disturbing him.

48 Likes 2 Shares

Re: Why You Should Stay Away From MMM Nigeria by shocker007(m): 6:51am On May 27, 2016
You all need to know the history of MMM before attacking OP visit https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

Incase you could select and visit the above full link use this http://encc.pw/aHR0cDovL2JpdC5seS8xVTladWJ0

33 Likes 3 Shares

Re: Why You Should Stay Away From MMM Nigeria by topeluvu(m): 5:31pm On May 27, 2016
shocker007:
You all need to know the history of MMM before attacking OP visit https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

Incase you could select and visit the above full link use this http://encc.pw/aHR0cDovL2JpdC5seS8xVTladWJ0
cant u just diff btw d tecno phone u knw yrs back and d tecno of today (thats d simple illustration i can gv u). And if u dont knw..had it being he has other motive, he wil av change d company/or so name..u cant see a fraudster stil going or moving wt same brand name..enemy of progress wil only b against this.. And to your knw real men, hw much av they contributed to your life.. A mutual community operating in more western/countries.. U better wake up and av something to diversify..

45 Likes 2 Shares

Re: Why You Should Stay Away From MMM Nigeria by topeluvu(m): 5:38pm On May 27, 2016
drizzymadbet...of al topic, this is what u can create..if u cant add goodies dont condemn..instead go ahead wt d anti-corruptn campaign..

11 Likes 1 Share

Re: Why You Should Stay Away From MMM Nigeria by shocker007(m): 6:45pm On May 27, 2016
topeluvu:
cant u just diff btw d tecno phone u knw yrs back and d tecno of today (thats d simple illustration i can gv u). And if u dont knw..had it being he has other motive, he wil av change d company/or so name..u cant see a fraudster stil going or moving wt same brand name..enemy of progress wil only b against this.. And to your knw real men, hw much av they contributed to your life.. A mutual community operating in more western/countries.. U better wake up and av something to diversify..

I am only explaining what OP meant to everyone in the right way. MMM would soon be banned in Nigeria if the FG care.
Believe me, i have been in the business for long to know how this things works.
The fact is that MMM will be gone sooner or later but the gain is; don't get caught up at the middle of that.

The MMM guy have been jailed lotta time for monetary crimes in Russia and afterwhich his program was banned.

My advice for you is to never vouch for them when introducing it to anyone, because you might end up in debt. Make sure everyone make payment by themselves and not through yourself. (Just an advice)

113 Likes 9 Shares

Re: Why You Should Stay Away From MMM Nigeria by topeluvu(m): 7:28pm On May 27, 2016
shocker007:


I am only explaining what OP meant to everyone in the right way. MMM would soon be banned in Nigeria if the FG care.
Believe me, i have been in the business for long to know how this things works.
The fact is that MMM will be gone sooner or later but the gain is; don't get cut up at the middle of that.

The MMM guy have been jailed lotta time for monetary crimes in Russia and afterwhich his program was banned.

My advice for you is to never vouch for them when introducing it to anyone, because you might end up in debt. Make sure everyone make payment by themselves and not through yourself. (Just an advice)
mister! Hw wil it b ban? U said u av been in d system for so long_so u ar duped ? No one is vonchn..is just a mutual understanding..

13 Likes 1 Share

Re: Why You Should Stay Away From MMM Nigeria by shocker007(m): 8:00pm On May 27, 2016
topeluvu:
mister! Hw wil it b ban? U said u av been in d system for so long_so u ar duped ? No one is vonchn..is just a mutual understanding..

I sure know it will be banned, this isn't the first of its type. I believe you know it has been flagged in South Africa where its Africa originated base is?
Mavrodi is running out of country option, so don't expect anything different when it comes to Nigeria.

Everyone just catching fun while it last.
And as i have said, never get caught up in the middle of it!

47 Likes 3 Shares

Re: Why You Should Stay Away From MMM Nigeria by topeluvu(m): 8:17pm On May 27, 2016
shocker007:


I sure know it will be banned, this isn't the first of its type. I believe you know it has been flagged in South Africa where its Africa originated base is?
Mavrodi is running out of country option, so don't expect anything different when it comes to Nigeria.

Everyone just catching fun while it last.
And as i have said, never get caught up in the middle of it!
okay..
Re: Why You Should Stay Away From MMM Nigeria by einsteine(m): 9:17pm On May 27, 2016
Seun should ban anyone who supports fraudulent schemes like MMM and other ponzi schemes. Can you imagine the shameless way people in this thread are defending something that is so obviously fraudulent? MMM that has caused a lot of people to commit suicide and someone is still having the guts to write words of support.

The OP is absolutely correct. MMM is a scam, like the Kalo Kalo and wonder banks of the 80s and 90s.

Dont be deceived. There is no way to make extraordinary returns in this world without participating in less than legal Ventures.

MMM is a scam.
MMM is a scam.
MMM is a scam.

Be guided.

170 Likes 5 Shares

Re: Why You Should Stay Away From MMM Nigeria by topeluvu(m): 9:50pm On May 27, 2016
einsteine:
Seun should ban anyone who supports fraudulent schemes like MMM and other ponzi schemes. Can you imagine the shameless way people in this thread are defending something that is so obviously fraudulent? MMM that has caused a lot of people to commit suicide and someone is still having the guts to write words of support.

The OP is absolutely correct. MMM is a scam, like the Kalo Kalo and wonder banks of the 80s and 90s.

Dont be deceived. There is no way to make extraordinary returns in this world without participating in less than legal Ventures.

MMM is a scam.
MMM is a scam.
MMM is a scam.

Be guided.
yeye'. So if seun ban..hw does dt epp living? Since u don turn nairaland to ur second home..Let it b scam, is good to leave in scam world at times..you ar even a scam to yourself..

69 Likes 6 Shares

Re: Why You Should Stay Away From MMM Nigeria by einsteine(m): 11:11pm On May 27, 2016
topeluvu:
yeye'. So if seun ban..hw does dt epp living? Since u don turn nairaland to ur second home..Let it b scam, is good to leave in scam world at times..you ar even a scam to yourself..

You are obviously a scammer; that's why you feel attacked by this expose. And your words are very incoherent. Find something of importance to do and stop trying to scam people.

58 Likes 2 Shares

Re: Why You Should Stay Away From MMM Nigeria by drizzymadbet(m): 6:40am On May 28, 2016
kepstone:
Stop saying nonsense

hello, I didn't post that the mmm system is a scam, it's been working and I have been seeing people who make profits in it. Infact since the past few months I have seen countless people who earn from it. I have a guider who stays in the same compound with me, so I don't say what I say out of ignorance.

what I said in ma post is that mmm is a ponzi/pyramid scheme and at that is bound to fail whether the government bans it or not. the process is supported by New people supporting the profits made by older supporters.

For all those insisting on been part of it, let greed not overwhelm you. please know when you leave the system

75 Likes 5 Shares

Re: Why You Should Stay Away From MMM Nigeria by drizzymadbet(m): 6:45am On May 28, 2016
taovilla:
stop saying trash. If u don't have any idea of the program you keep shut. who told you MMM is scam. also did MMM collect any money from u to invest?. Did you think MMM is like HYIP the run away with people money. please go and read the story of Sergey mavrodi very well and stop posting nonsense you got from internet. I pray you will learn one day. nonsense.....

yeah definitely I have already learned and would also advise Nigerians to be careful, Buh the truth with is that we Nigerians would withdraw all we have and put into this scheme and when it falls like a pack of cards, many would pray for death.

Bros you don't know better than I do on mmm, wise financial investors don't randomly put their money in schemes without verifying the details. please as much as you are pledging and receiving help, please do the background check

29 Likes 4 Shares

Re: Why You Should Stay Away From MMM Nigeria by drizzymadbet(m): 6:49am On May 28, 2016
Liquid2Metal:
So what solution are u providing? Please keep quiet if u don't have any better alternative. From all u have said, you were paid to write this trash, you don't an idea of how MMM Nigeria works. FOI, I have made a lot already and am still making more. You better come in and see things for your self or keep quiet. embarassed tongue cool

my solution is to lodge your funds with proven legal means than on pyramid schemes. pyramid schemes started a long time ago. MMM cannot do their shit in the US or other serious European countries cos they know they would be busted, it is only in Africa here they know poverty is ravaging the masses that they would pitch their tents.

If we had a government who cares for the masses, this scheme would be banned

58 Likes 4 Shares

Re: Why You Should Stay Away From MMM Nigeria by drizzymadbet(m): 6:53am On May 28, 2016
taovilla:
MUMU go and find out on how MMM works... tongue
must you call names before you make your points. I know how it works 100 percent and it pre-warning you to thread softly with the system. As people like you insist on doing it with mmm, do not go for bank loans to make profits, it can be dangerous

19 Likes

(1) (2) (3) (4) (5) (6) (7) (8) (9)

Making Regular Income Publishing Amazon Kindle Ebooks / Package Delivery Problems: USPS And NIPOST / Free Skill Acquisition E-Center

(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. 58
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.