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Nairaland Forum / Nairaland / General / Business / How The Current MMM Will Likely End - As a Scam (76212 Views)
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Re: How The Current MMM Will Likely End - As a Scam by aminho(m): 5:49pm On Sep 04, 2016 |
glamour29557:yes and it's 5 months and counting |
Re: How The Current MMM Will Likely End - As a Scam by Menakay(m): 6:39pm On Sep 04, 2016 |
tempest01:just like Gold Package dat was paying customers/members their interest at d initial stage but wat happened later on when they ve deceived people with their initial returns dat made people see dem as real? they vamus like wiliwili. #makeunagetsense# |
Re: How The Current MMM Will Likely End - As a Scam by ToySoldier2: 6:42pm On Sep 04, 2016 |
glamour29557:Don't mind him. He has been told to lie here. Nobody has put money into MMM and didn't get it back. Last month, my boss put about N1, 000,000 and he got over N400, 000 extra 1 Like |
Re: How The Current MMM Will Likely End - As a Scam by Menakay(m): 6:43pm On Sep 04, 2016 |
niggi4life:Same thing happened years back in Sapele, Ughelli, Warri etc and organizers named their group As Gold Package, they ran away with millions of naira. 1 Like |
Re: How The Current MMM Will Likely End - As a Scam by glamour29557(f): 9:16pm On Sep 04, 2016 |
ToySoldier2:I no, am just scared because he gave a proof...I also put 300,000 july and I got 417,000 august |
Re: How The Current MMM Will Likely End - As a Scam by glamour29557(f): 9:19pm On Sep 04, 2016 |
aminho:hmmm DAT is a huge amount of money to loose o. am beginning to b scared,.. the worst is dere is nobody to hold responsible.... was it ur first trial? |
Re: How The Current MMM Will Likely End - As a Scam by Nobody: 9:31pm On Sep 04, 2016 |
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Re: How The Current MMM Will Likely End - As a Scam by Nobody: 10:06pm On Sep 04, 2016 |
ToySoldier2: Macroeconomics indeed! You know all the macroeconomics, and yet your brain tells you that it's possible for a system that has no net input but only a net output to last? A woman has made over 46 million from this business. Some have made over 10 million, and I'm quite sure there are Nigerians that have made over 100 million from this same scheme, and you're telling me it will last looong. Imagine in the next 3 or 5 years when up to 5 million Nigerians would have pulled out an average of 1 million naira each from this system as profit. That would be over 5 trillion naira which would have left the PH - GH cycle. Please can you tell me the ultimate source of this money that would have been removed and channelled to other things? 3 Likes |
Re: How The Current MMM Will Likely End - As a Scam by aminho(m): 11:50pm On Sep 04, 2016 |
glamour29557:nopesecond |
Re: How The Current MMM Will Likely End - As a Scam by UjSizzle(f): 1:06pm On Sep 05, 2016 |
Oh well. Every scam has a winner and a loser. At least my pal knows it's a ponzi scheme. Make what you can, when you can and cash out. We all know how this will end-- it's simply a matter of when it will happen. No one has yet been able to explain how the team who manages this MMM make their money. Because if it doesn't make economic sense, then you should be worried... unless of course greed clouds your sense of reasoning. |
Re: How The Current MMM Will Likely End - As a Scam by jaybee3(m): 1:22pm On Sep 05, 2016 |
UjSizzle: Fixed |
Re: How The Current MMM Will Likely End - As a Scam by UjSizzle(f): 4:01pm On Sep 05, 2016 |
jaybee3 Lol! Modification accepted |
Re: How The Current MMM Will Likely End - As a Scam by SUNSHINEDAINTY(f): 5:11pm On Sep 11, 2016 |
eay:simple questions that he asked. You should have at least answer one instead of these you wrote here. |
Re: How The Current MMM Will Likely End - As a Scam by eay(m): 5:52pm On Sep 11, 2016 |
SUNSHINEDAINTY: I have answered him already...he's buzzed me on whatsapp |
Re: How The Current MMM Will Likely End - As a Scam by Nobody: 12:15pm On Sep 20, 2016 |
NPComplete: One of the best posts i have ever read on nairaland. You deserve a bottle of your preferred beer from me! Lol. 1 Like |
Re: How The Current MMM Will Likely End - As a Scam by Nobody: 12:26pm On Sep 20, 2016 |
tempest01: 2nd best post on the thread! |
Re: How The Current MMM Will Likely End - As a Scam by dagok(f): 7:49pm On Sep 25, 2016 |
What is benefits of Guider and what is some benefits that attached to Guider.... Please urgent respond |
Re: How The Current MMM Will Likely End - As a Scam by eay(m): 1:48am On Sep 26, 2016 |
dagok: I think I have answered your question on the other thread...or better still,i will advise you to ask your guider...or u chat me up on whatsapp |
Re: How The Current MMM Will Likely End - As a Scam by shawn5ng(m): 7:20am On Oct 02, 2016 |
Mr Oga, Your analysis is baseless and not wise enough. How can everyone be paying into same account in this era of information technology. Even in your office almost everybody is doing and you while guiders monitors activities of participant to ensure they pay to the right person. Everybody can't compromise now. You need to sit yourself down and study the ideology before you come here to talk trash. I just laugh when i saw some people writing rubbish without understanding the ideology of MMM. Please if you can't take risk or you are risk averse then keep quiet and watch the risk taker how they make their money. MMM is real and can never go down as far there is PH and GH over and over. Mind you there is no one that will make money on something and u will not go back to that thing. That circle will continue till Jesus christ come. MMM together we shall change the world. tempest01: |
Re: How The Current MMM Will Likely End - As a Scam by lollarj(f): 12:05pm On Oct 02, 2016 |
dagok: Ok but one scammer calling out another scammer doesnt make him a liar. |
Re: How The Current MMM Will Likely End - As a Scam by lollarj(f): 12:44pm On Oct 02, 2016 |
nunogomez: Ponzi scheme ! |
Re: How The Current MMM Will Likely End - As a Scam by forexprophet(m): 3:23pm On Oct 05, 2016 |
[quote author=tempest01 post=48996183]I saw the current MMM advertised by a friend sometime back and I quickly waved it off as a scam as with the HYIP and other ponzi schemes. https://www.nairaland.com/3321916/sec-warns-nigerians-dangers-mmm Given this topic that was on the front page today, I saw some comments by people and it was noted that ''There is no pool of money with the current MMM and therefore they can't run away''. Given the nature of their business, with no investments and the fact that they have put in resources in place to allow for this trade to happen, it is pertinent that one day or another, they will close down, and they won't go through that stress without duping people of their money. Seeing the topic today, I had to register and checkout how the model works , and also brainstorm on the eventual way the MMM operators will dupe those that are in the system. I am giving a scenario here and though it may not play out the same way, there should be no denying the fact that one day - which i wll term as ''the day of reckoning''. the MMM site will shut operations and will try to make as much as possible from your funds before that. Now here is the scenario. As there is no pool as someone rightly said, I registered and saw the mode of operation. It is worthy of note that the same MMM site runs in several countries:- Nigeria South Africa India Colombia Turkey So from my postulation, the fold-up will happen in a month - The month of reckoning-- across all MMM sites on that month because anything short of that will send panic to other countries and they won't maximize. The scenario i see playing out is that the handlers will have bank accounts or agents in all countries of operations and in the month of reckoning, as there is no pool of money, all the ''get help'' requests will be paused - Not paused perse, but no ''get help'' request will go through and will be pending as they won't publish it. Now the ''Provide help'' will be allowed to work, but the account shown will be that of the handlers of the site (or their agents) and people will keep providing help, but it goes to the scam account. Now this will go on for a month as you have to wait for a month to use your Mavro. The first people that will notice the scam will be the ''Get help'' People as they will keep waiting, but no help will come. Then ''Provide help'' people will come to know after a while and they MMM people will release a statement saying the ''business model experiment failed and they are shutting down'' Be wise Nigerians.... Alternative views and constructive arguments are welcome [/quoteHow many times will you be told that MMM IS NOT AN INVESTMENT. If you don't know the ideology, you will never understand it. The only thing Nigerian know about getting money is buying and selling. Unfortunately, there are other ways of of taking advantage of money circulation and the timing BTW cashflows to make money. My economic teacher taught us how bank create money from nothing using the same principle. Google and read more about banking system. Who told you that banks,insurance houses, pension schemes get their money only from interest on loan? You are deceived if you think so. Interest alone cannot even pay have of their staff.....The hidden part of this financial institutions business is money creation which have been hidden for centuries is what MMM is using for the advantage of the public. Since you know how to Google for bad news try to do positive research. Have been wondering why NOBODY HAVE EVER TALKED ABOUT FOOTBALL BETTING, LOTTERY, BABA IJEBU ETC.....In fact the government give some of them license cos the money goes to the pocket of few owners who have connection with government. MMM is out of their reach cos the money circulate among participant.. Its not in the bank where they can freeze it and then steal it under the guise of the law Long live MMM Long live haters...so that they can see it pro 1 Like |
Re: How The Current MMM Will Likely End - As a Scam by Paulpraise00195: 2:03pm On Oct 06, 2016 |
christiengeorge: Come back here to tell us the outcome, 145k back to his account Yes or No? Keep fooling yourself you'd better join before it's too late. 1 Like |
Re: How The Current MMM Will Likely End - As a Scam by Bsideboi(m): 5:07pm On Oct 09, 2016 |
[quote author=ziego post=49003317] Multi level marketing Worst business [/quotewhy say so...who doesnt want easy money? |
Re: How The Current MMM Will Likely End - As a Scam by tundejoseph4(m): 11:56pm On Oct 16, 2016 |
ILIDEFI: u can't place more than 3.5millions |
Re: How The Current MMM Will Likely End - As a Scam by IdumaCharles: 1:01pm On Oct 27, 2016 |
tempest01: The only reason why MMM will crash is when the participants starts listening to people like you and stop helping each other, The Federal Govt is so endeared to it's citizens that they are begging us to stay away from MMM, have you ever asked yourself why the same govt allows Merrybet, Surebet and all the other gambling companies to thrive? it is because these companies pay taxes to the govt so the govt really cares less about how much we loose to the soccer bet companies.. Now MMM comes with a genuine way to help each other make a living and the Federal govt and others who care to doubt are out there with megaphones to discourage participants.. Nigerians have to learn and stop being slaves to our own mentality. Life is about risks... The bigger the risk, the greater the glory MMM rules |
Re: How The Current MMM Will Likely End - As a Scam by akanbiaa(m): 2:35pm On Oct 27, 2016 |
sidneyj:With this mindset Laborers would have been wealthy people. Work Smart not hard. 1 Like |
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