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MMM Announces A “RESTART. Nigerians Weep - Investment - Nairaland

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Bad News: Many Nigerians Weep Bitterly As MMM Announces A "Restart"...see Detail / Many Nigerians Weep As MMM Announces A “restart” / MMM Has Crashed Again: The Secret Behind The Ponzi [exposed] (2) (3) (4)

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MMM Announces A “RESTART. Nigerians Weep by Spylord48: 12:59pm On Nov 04, 2017
Many Nigerians weep as MMM announces a “RESTART

Popular ponzi scheme MMM has officially announced a “RESTART” of the system, leaving many Nigerian participants wailing with thousands and millions on Naira trapped in the scheme.

In a message posted on the home page of participants Saturday morning, the scheme said that it had struggled to stay afloat after going on a break in Dec. 2016 but had been forced to do a system restart.

Many of the participants who commented in various MMM Whatsapp groups recounted sadly how they and family members had lost millions to the scheme.


MMM is a ponzi scheme which gained popularity in Nigeria in 2016. It promised to pay participants 30 per cent return on investment every 30 days.

Despite various warnings by the Federal Government and its financial regulators, many Nigerians adamantly went on to participate in MMM.


Recall that in 2016, the Federal Government, through the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) warned Nigerians against putting their money in the scheme.

In December 2016, the scheme went on “Pause Mode”, freezing the funds of participants and allegedly bolted with N18 billion but promised to resume payments by January 2017.

MMM kept its promise by resuming in January but it had new rules: 2016 money was to be paid back in percentages of new money “invested”.

This also did not stand the test of time and by July 2017, the scheme went on a semi pause mode when it could not pay withdrawal requests.

While those who lost their money in June/July continued to wait and lament, the ponzi scheme, in a frantic effort to stay afloat, commenced payment of those who “invested” their money in August, promising to backdate the payment to cover those whose money were still pending from June and July.

It even introduced 100 per cent return on investment to encourage more Nigerians to participate in August.

Apparently unable to meet its promises to pay back June/July pledges and faced with more challenges, the ponzi scheme on Saturday announced that it was going on restart, blaming the Nigerian government and the media for its woes which started in 2016.

Read the full text of the message:

RESTART

Unfortunately, we were unable to overcome the consequences of the crisis triggered by the authorities and mass media incautious actions at the beginning of this year. Despite all our efforts. The problems have been accumulating and, as a result, we have to announce a restart.

So, there is a restart:

All old Mavros (acquired before this announcement is posted) are frozen. We will gradually buy them back as the System develops.

All transactions with new Mavros (acquired after this announcement is posted) will be carried out on the usual terms with no restrictions.

Some amendments have been made to the rules:

Mavros will now start growing at the moment the request is confirmed (not at the moment it is created, as it was previously).
Consequently, bonuses will start growing at the moment when the main contribution is confirmed (upon which bonuses have been rewarded on).
Mavro-50% for the first contribution will not be available.
We launch three-month contributions of two types: 40% and 50% (see more details in WHAT IS MMM).
We’re confident that this measure (especially paragraphs 1 and 2) will significantly reduce the load on the System while also significantly improving its stability.

As a matter of fact, a restart is not the end of the world, it’s just a restart of the System and nothing more. Continue to provide help and you’ll get it all back (even if you’ve lost something now). It all starts from the beginning. It’s the most opportune time for participating.

We would also like to remind you (just for form’s sake) that everyone had been fully aware of all the risks and had read the WARNING which they had also confirmed by checking the relevant box in the process of registration.

Hoping for your understanding,
MMM Administration

Some of the participants of the scheme expressed regrets for ever joining MMM.

One of the participants (names with held) said that if he had known he would have used his money fro something better rather than investing on the scheme.

“This MMM people are very useless, they just came to dupe us,” he said.

On the promise by the scheme to buy back the debts it owed Nigerians when it restarts, he said: “Restart? who are they restarting with? Nobody will join MMM in Nigeria again”.

“MMM is gone and gone for good,” he said.


https://www.vanguardngr.com/2017/11/many-nigerians-weep-mmm-announces-restart/

7 Likes 4 Shares

Re: MMM Announces A “RESTART. Nigerians Weep by Spylord48: 1:01pm On Nov 04, 2017
To the new sets of maga must pay,we officially welcome you to a brand new Money Making MAchine

182 Likes 15 Shares

Re: MMM Announces A “RESTART. Nigerians Weep by benzene00: 1:04pm On Nov 04, 2017
Anybody still thinking mmm will still pay again should definitely enroll in a brain check-up test

what nansense!!

161 Likes 5 Shares

Re: MMM Announces A “RESTART. Nigerians Weep by AJOBI77(m): 1:07pm On Nov 04, 2017
Some magas will still pay for sure

65 Likes 3 Shares

Re: MMM Announces A “RESTART. Nigerians Weep by sinaj(f): 1:09pm On Nov 04, 2017
Do people still do this?

53 Likes 1 Share

Re: MMM Announces A “RESTART. Nigerians Weep by rosalieene(f): 4:24pm On Nov 04, 2017
they should just close down like ghw and the rest instead of causing more trouble

22 Likes

Re: MMM Announces A “RESTART. Nigerians Weep by Nobody: 4:36pm On Nov 04, 2017
But where is lalasticlala sef undecided

2 Likes

Re: MMM Announces A “RESTART. Nigerians Weep by AngelicBeing: 4:37pm On Nov 04, 2017
grin

46 Likes

Re: MMM Announces A “RESTART. Nigerians Weep by emalek86(m): 8:27pm On Nov 04, 2017
All this people wan just finish us.

57 Likes 3 Shares

Re: MMM Announces A “RESTART. Nigerians Weep by Kreamie(m): 8:28pm On Nov 04, 2017
Buhahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahahaaaaahahahahahahahahahaha

24 Likes 3 Shares

Re: MMM Announces A “RESTART. Nigerians Weep by ekems2017(f): 8:28pm On Nov 04, 2017
Don't tell me Nigerians are still into this crap

14 Likes

Re: MMM Announces A “RESTART. Nigerians Weep by fergusen: 8:28pm On Nov 04, 2017
undecided
Re: MMM Announces A “RESTART. Nigerians Weep by gift01: 8:28pm On Nov 04, 2017
December is around the corner. They are looking for peoples fund to trap again. Open your eyes �

48 Likes 1 Share

Re: MMM Announces A “RESTART. Nigerians Weep by Nobody: 8:28pm On Nov 04, 2017
cheesy

2 Likes 1 Share

Re: MMM Announces A “RESTART. Nigerians Weep by ladyF(f): 8:29pm On Nov 04, 2017
Lol. Let's go there...

Bitcoin is available here for MMM participants sha... Check my signature and come and place your order.

It's LadyF again. grin grin grin

13 Likes

Re: MMM Announces A “RESTART. Nigerians Weep by dominique(f): 8:29pm On Nov 04, 2017
Haven't they milked people enough?

9 Likes 1 Share

Re: MMM Announces A “RESTART. Nigerians Weep by kolnel: 8:29pm On Nov 04, 2017
Some foolish people will still participate
Smh

13 Likes 1 Share

Re: MMM Announces A “RESTART. Nigerians Weep by Dollarship(m): 8:30pm On Nov 04, 2017
D
Re: MMM Announces A “RESTART. Nigerians Weep by blackbeau1(f): 8:30pm On Nov 04, 2017
Restart ke? Of course I know some gullible nigerians will still join them

10 Likes 3 Shares

Re: MMM Announces A “RESTART. Nigerians Weep by Slaveman343: 8:30pm On Nov 04, 2017
chai
Re: MMM Announces A “RESTART. Nigerians Weep by yomalex(m): 8:30pm On Nov 04, 2017
ok
Re: MMM Announces A “RESTART. Nigerians Weep by columbus007(m): 8:30pm On Nov 04, 2017
This bullsht again shocked

1 Like

Re: MMM Announces A “RESTART. Nigerians Weep by Oloripelebe: 8:30pm On Nov 04, 2017
Moku mogbe modaran


Wey dar girl wey dey do mmm queenofnepal grin

4 Likes

Re: MMM Announces A “RESTART. Nigerians Weep by castrol180(m): 8:30pm On Nov 04, 2017
Restart or what am I hearing? No matter what a con artist will still be getting victims...

5 Likes

Re: MMM Announces A “RESTART. Nigerians Weep by Nobody: 8:31pm On Nov 04, 2017
sad ....

4 Likes

Re: MMM Announces A “RESTART. Nigerians Weep by Dollarship(m): 8:31pm On Nov 04, 2017
Happy new year to everyone

2 Likes

Re: MMM Announces A “RESTART. Nigerians Weep by muller101(m): 8:31pm On Nov 04, 2017
They will still fall under the anointing grin
Re: MMM Announces A “RESTART. Nigerians Weep by gberra: 8:32pm On Nov 04, 2017
My guy don wed finish, don buy house, this time na to buy jet remain

MMM 2.0 ( Maga Reloaded)

46 Likes 3 Shares

Re: MMM Announces A “RESTART. Nigerians Weep by Dearlord(m): 8:32pm On Nov 04, 2017
...With due respect

1 Like

Re: MMM Announces A “RESTART. Nigerians Weep by davss02(m): 8:32pm On Nov 04, 2017
Buhari's fault

1 Like 1 Share

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