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MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds - Investment - Nairaland

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MMM Considers 40 Percent Interest As Participants Reduce, Demand Withdrawals / MMM Blocks Withdrawal Of Funds For One Month! / MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds (2) (3) (4)

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MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by tafrica(m): 8:42pm On Sep 13, 2016
Could this be the predicted end of MMM?
Less than three weeks after Zimbabwe’s
National Reserve bank warned citizens to stay
away from MMM, the scheme might be showing
signs of imminent collapse. MMM Zimbabwe had
in some few weeks ago stopped all withdrawals
and allowed deposits.

As reported by BehindMLM. In an effort to stave
off an inevitable collapse, MMM Global’s
Zimbabwe chapter froze investor
withdrawals. Deposits were still permitted, with
the intention being to collect money without
withdrawals draining the system and unfreeze
existing accounts on September 15th.

That plan has now been cancelled, with MMM
Global Zimbabwe prematurely unfreezing
investor withdrawals.

But unknowing to MMM members, the scheme is
ripping them off. Here is the catch as reported
by BehindMLM:

While affiliates deposit real funds into MMM
Global, the company itself pays out Ponzi points
called “Mavros”. Mavros must be exchanged for
real money, subject to availability of new
investment deposits being made.

MMM Eastern Africa, who run the MMM Global
Zimbabwean chapter, have reduced the Mavro
exchange rate from 1 Mavro to $1 to 5 Mavros
to $1.

This is effectively an 80% reduction in the dollar
value of existing invested funds and the Ponzi
ROI attached to them.

For example, whereas previously an MMM
Eastern Africa affiliate who invested $1 was
promised $2 within 30 days, now they’ll receive
just 20 cents.

Affiliates who had been hoarding Mavros in
their back office will now only be able to claim
20% of what they were previously able to
request in withdrawals.

This change has likely been implemented due to
a lack of new withdrawals, leaving MMM Eastern
Africa unable to meet it’s 100% ROI obligations
come September 15th.

By reducing withdrawal rates by 80%, it now
takes longer for an affiliate to “break even”. But
after five months the problem of paying
affiliates more than has been invested, known
as a “Ponzi liability”, persists.

This will inevitably still bring about a collapse.
MMM Eastern Africa have just put it off a bit.
That’s of course assuming affiliates don’t riot,
stop promoting the scheme altogether and
demand their money back.

MMM members in Zimbabwe have already
started counting their losses. Mr Tinashe Muza
of Harare told iharare.co.zw that “All along
things were moving in the right direction and we
now have nowhere to claim our investments.”

“When we started putting our funds in the
scheme one could get assistance within seven
days but things later changed to 14 days and
when we were shut out the waiting period was
21 days. What it simply means is that the
number of people in need of help has
outnumbered the number of people joining.
Right now we have nowhere to get our money
which we invested.”

Another victim, Mrs Rosemary Mawonde said:
“We never thought the scheme would end this
way as we believed that by using EcoCash to do
the transactions, things were in order. I am
surprised that EcoCash is also distancing itself
from the scheme and it is clear that I will never
recover the USD300 that I invested.”

EcoCash, the mobile money operator that
allowed its service to be used by MMM members
for their transactions has distanced itself from
the matter saying:

“We advise our valued customers and all
stakeholders that Ecocash is a licensed mobile
payment platform that enables customers to
make financial transactions such as sending
money, buying prepaid airtime as well as paying
for goods and services within the confines of the
law of Zimbabwe. EcoCash promotes safe and
legal transactions but will not be held liable for
any losses arising from the use of EcoCash to
engage in illegal activities such as Ponzi
schemes.”

Last week, Nigeria’s Securities and Exchange
Commission SEC had warned all Nigerians to
stay away from MMM. According to estimates,
there over 509,021 Nigerians who are members
of the Ponzi Scheme as at the time of writing
this report.

No one knows when the scheme will start
collapsing just like MMM Zimbabwe. However, in
May, MMM South Africa had collapse with
countless citizens losing millions in invested
funds.

https://pageone.ng/2016/09/09/mmm-zimbabwe-froze-withdrawals-80-funds/
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by ArchitGreen(m): 8:50pm On Sep 13, 2016
next stop is Nigeria.... investors beware
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by Pierocash(m): 8:59pm On Sep 13, 2016
sTop spreading lies,MMM South Africa is stil functioning.tell ur SEC or any financial institution that paid u to spread lies tha MMM Nigeria has come to stay,and their is nothing they can do abt it.Agent of confusion

7 Likes 2 Shares

Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by Nobody: 4:05am On Sep 14, 2016
No mind them by the time recession will scatter their stomach they will carry placard and be running around like chickens
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by leorayvon2k2: 6:35am On Sep 14, 2016
Dear op what have u gained by this report? Is it your money?..

2 Likes

Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by Opistorincos(m): 10:58am On Sep 14, 2016
I no go talk
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by kennylyn(m): 7:02pm On Sep 14, 2016
Useless and jobless op.... U forget that every deposit is another person's withdrawal... Go get a life

3 Likes

Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by egopersonified(f): 10:10pm On Sep 14, 2016
op, bet why? these people have being warned enough, allow them enjoy their business. Found out today that my sisters are all involved, I didn't just bother to preach to them, if you have stacked an amount you won't commit suicide over and have gotten profit above that amount, then it's all good.

I am still wondering why they didn't ask me if I was interested sha. Is that how they will discover one treasure island filled with gold and they won't tell me? Very very disappointed infact undecided

4 Likes

Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by Tyche(m): 8:00am On Sep 15, 2016
egopersonified:
op, bet why? these people have being warned enough, allow them enjoy their business. Found out today that my sisters are all involved, I didn't just bother to preach to them, if you have stacked an amount you won't commit suicide over and have gotten profit above that amount, then it's all good.

I am still wondering why they didn't ask me if I was interested sha. Is that how they will discover one treasure island filled with gold and they won't tell me? Very very disappointed infact undecided

You dey hustle too much, na him make them no tell you grin
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by tdbankplc: 8:50am On Sep 15, 2016
egopersonified:
op, bet why? these people have being warned enough, allow them enjoy their business. Found out today that my sisters are all involved, I didn't just bother to preach to them, if you have stacked an amount you won't commit suicide over and have gotten profit above that amount, then it's all good.

I am still wondering why they didn't ask me if I was interested sha. Is that how they will discover one treasure island filled with gold and they won't tell me? Very very disappointed infact undecided

He fit be say u get OP kind f mind set make dem no tell you.
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by krizate1: 12:04am On Sep 16, 2016
Nigerians are so blinded by desperation sha! Paying money to someone account is not still risky enough? The scammers behind MMM is among those requesting and giving help watching the system grow in the process..... It takes a month to withdraw dividend long enough for y'all to give help to at least 10 or more account belonging to the culprits..... Run now that you can
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by amordiguys(m): 9:54am On Sep 16, 2016
.
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by getbusy2(m): 10:42am On Sep 16, 2016
Just a Ponzi scheme.
Those who invest early get back their money with profits. They are happy.
You who join last may not even have a bone.

Invest only what you are ready to loose.

1 Like

Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by Estherokitikpi1: 9:27pm On Sep 16, 2016
If you want to learn how to participate in mmm without losing your money, chat me up here 08127947105 (watsapp only)
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by krizate1: 11:00pm On Sep 16, 2016
amordiguys:
My frd...u simply dont know how this system works...Y not make ur findings before commenting....
I know all about it bro..... My advise is run while you can with the little you have collected because some day y'all be rendering help to MMM syndicate unknowingly...
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by jidluk: 7:39am On Sep 17, 2016
grin
egopersonified:
op, bet why? these people have being warned enough, allow them enjoy their business. Found out today that my sisters are all involved, I didn't just bother to preach to them, if you have stacked an amount you won't commit suicide over and have gotten profit above that amount, then it's all good.

I am still wondering why they didn't ask me if I was interested sha. Is that how they will discover one treasure island filled with gold and they won't tell me? Very very disappointed infact undecided
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by ziego(m): 7:42am On Sep 17, 2016
getbusy2:
Just a Ponzi scheme.
Those who invest early get back their money with profits. They are happy.
You who join last may not even have a bone.

Invest only what you are ready to loose.


U don't know what mmm is all about.

See it this way:

"MMM is like a house full of rice. There's so much rice stored in the room such that if you eat 20 cups alone, it won't shake the rice storage.

*Remember*, before you eat, you must have contributed your own small rice amount to the the large storage.

That rice storage can never be exhausted unless everyone comes to take rice on the same day from the storage.. but in MMM this is not possible because the release date of every fund put into MMM is 2 weeks, before then more people would have deposited more rice.."


For every deposit there is withdrawal

3 Likes

Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by apkpromise: 11:54pm On Sep 17, 2016
nah wah ooo .i just no know why op just yearn like this about MMM self.Why you just dey paint our beloved Sergei Movradi like this .Sincerely speaking No individual here who have participated in MMM that will say He or She has recovered invested principal. Even some including me just they run things with the profits.So even if MMM closed down today and my money hang mind you no be Baba Sergei the money they with ooo .The money still dey better the life of my fellow naija brother or sister and that's good because I epp somebody .Now my Question to Op is this, Op seriously Who you Epp Self?
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by hopeforcharles(m): 8:20am On Sep 18, 2016
egopersonified:
op, bet why? these people have being warned enough, allow them enjoy their business. Found out today that my sisters are all involved, I didn't just bother to preach to them, if you have stacked an amount you won't commit suicide over and have gotten profit above that amount, then it's all good.

I am still wondering why they didn't ask me if I was interested sha. Is that how they will discover one treasure island filled with gold and they won't tell me? Very very disappointed infact undecided
Because they know ur busy body is raised to the power of 2,
I wonder what people will gain in trying to discourage people from mmm esp when the profits are obvious, just caution people not discourage them it's their money.
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by WhyAmISoQuiet: 1:18pm On Sep 26, 2016
[quote author=apkpromise post=49454047Even some including me just they run things with the profits.So even if MMM closed down today and my money hang mind you no be Baba Sergei the money they with ooo .The money still dey better the life of my fellow naija brother or sister and that's good because I epp somebody .Now my Question to Op is this, Op seriously Who you Epp Self?[/quote] To me MMM is about people coming together to share what they have with each other. I wonder if those against it will be willing to help their neighbors when in need.

1 Like 1 Share

Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by jmax22(m): 9:21am On Sep 27, 2016
Good day Mavrodians.
If anyone tells u MMM has collapsed in SA and Zimbabwe.
Don't argue with them. No story. Just give dem these links to see whether MMM is alive or not.

SA: http://rsa-mmm.co/testimonials/

ZIMBABWE: http://ea-/testimonials/

NIG: http:///testimonials
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by Jazzlite: 12:09pm On Dec 13, 2016
ArchitGreen:
next stop is Nigeria.... investors beware
a prophet you are!
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by Jazzlite: 12:10pm On Dec 13, 2016
jmax22:
Good day Mavrodians.
If anyone tells u MMM has collapsed in SA and Zimbabwe.
Don't argue with them. No story. Just give dem these links to see whether MMM is alive or not.

SA: http://rsa-mmm.co/testimonials/

ZIMBABWE: http://ea-/testimonials/

NIG: http:///testimonials
liar
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by KnightOfLaif: 5:27am On Dec 14, 2016
Join our whatsapp group for more info on ultimate cycler...
08171782262
Re: MMM Zimbabwe Froze Withdrawals, Old Members Lost 80% Of Funds by Nobody: 8:39am On Dec 14, 2016
No research! That's your name.

In Zimbabwe, MMM came initially with an offer of 100% ROI, knowing that the population of such a country wasn't as much as Nigeria. This was the only way to draw people to join. Along the line, due to the same panic causing the few investors they had, yielding to media frenzy and govt inspired rumor, the 100% proved unsustainable, (as with any other MLM that offers 100%: they can't last doing that), MMM took the same step as they just took in Nigeria, by freezing mavros. The ROI was reduced from 100% to 30% as we have now in our country, that was the only way the system could have been salvaged at that time.

Lets answer this logical question pls. As a zimbabwean, If you staked 100$ in MMM and instead of getting 200$ after 30days (as you have been getting), you get 130$ after you had been informed that mavro would no longer be increasing by 100% but by 30%: DID YOU LOOSE? Definitely not. Your primary capital is 100$ and plus your 30%, you got ur extra 30$.

Lo and behold, MMM Zimbabwe has been working flawlessly ever since then. It became so good to the point that, the govt encouraged unemployed youths to join it. This is the reason why when MMM came to Nigeria, the 30% model was adopted and it has also been flawless.

Fellow mavrodeians,

The media is mininforming you in order to get traffic to their site. That's all they ever care about. No one really gives a damn about the survival, the only people physically worried/dreaming about the downfall of MMM are those who wish they could take the same risk as you do Or those who don't have cash. We call them Monitoring Spirits/Witches/Wizards

Continue with your regular activities and cease to panic. Meanwhile all those you were paired with me last week for my GH, have started fulfilling their payments to me as at this morning.

MEDIA/FG YOU LOOSE AGAIN!!! SUCK ON IT!!

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