This is about those who wish to invest in MMM, a little pitch to you: "Be careful!"

Well, in this regard I stand to be corrected. According to a recent post and news I read about regarding investors in MMM in the quest to make extra cash, they seem to regret such investment. I also remember the Central Bank Of Nigeria warn against people investing in the scheme. See story below:


" THOUSANDS of people, among them civil servants and vendors, have lost thousands of dollars to fraudulent online pyramid scheme MMM Global Zimbabwe after it collapsed recently. The social financial network, which relied on an accelerating number of new members to pay off the old, abruptly terminated its services last week leaving participants stranded.

This comes as Econet’s mobile financial service platform, EcoCash yesterday distanced itself from the pyramid scheme. Participants claimed they were using EcoCash for their transactions.

Zimbabweans have in the past months been joining the online investment scheme in droves in a bid “to get rich quickly”. The Reserve Bank of Zimbabwe warned people that the scheme was fraudulent and there was no legal recourse in the event they lost their money.

The central bank said MMM, which advertises its operations through a website and recruiting agents, was not a registered or regulated entity. EcoCash yesterday said: “We have noted that some of these pyramid schemes are allegedly advertising in a manner that suggests that the Ecocash facility is a medium for prospective members to deposit their money. This is not correct.

“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.”

The scheme advertises itself as a mutual aid fund under which recruited members contribute money to assist others and are promised investment returns of 30 percent per month. Some of the people left counting their losses told The Herald that they received emails that the scheme had been suspended until September 15.

“All along things were moving in the right direction and we now have nowhere to claim our investments,” said Mr Tinashe Muza of Harare.

“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.”

MMM stands for Mavrodi Mondial Moneybox and takes its name from its founder, Sergei Panteleevich Mavrodi of Russia. He founded MMM in 1989 and the scheme was declared bankrupt three years later leading to the disappearance of Mavrodi until his arrest in 2003.

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 $300 that I invested.”

While some people who were skeptical about the scheme started with small amounts, it is believed some poured in thousands of dollars anticipating higher returns. The RBZ said the schemes were fraudulent as existing investors were ‘paid money not from genuine market investment of their funds, but from contributions made by new investors, until a point when the scheme can no longer attract new investors,”

“The participants are made aware that they make their money by recruiting new members who in turn must recruit more members,” warned the Central Bank.

Keep your concern to yourself biko

They will not still hear word

Miss informed people everywhere.

They no go hear..they will tell you this is Nigeria and not Zimbabwe Anyways, life itself is a risk

invest in MMM @ ur own risk

Who says MMM is an Investment. Dis people shaa

my problems with this mmm advisers is that, they will not invest, have never invested and cannot invest. peeps mmm pays well. the worst risk in life is failing to take a risk. mmm is a risk n only d risk takers are in dia

mumuu! that's an old fake news that has been clarified already. were you born yesterday?

they are coming one after the other, even more concerned than you are when is not even their money. How can you compare mmm zimbabwe with mmm nigeria. Nigerians go to zimbabwe and set up businesses same cannot be said of zimbabweans. MMM will thrive and last long in a community of risk takers in which nigerians are one.

My uncle said I dey do Yahoo yahoo just cuz am on MMM told me to stop or leave his house. Am really think IMG of leaving

How 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 prosper.

I just want to state... hope we are not going to allow the foolish Christmas festivities notion inhibit us from P.Hing on a regular basis in December? This is a concept being widely spread by the cowards, the ignorant and the panic spreaders who want to see MMM Nigeria fall and one that marvodians should actively campaign against. Don't just decide, spread d word! We decide the fate of our lovely life changing community