₦airaland Forum

jiggaz:
evening....

jiggaz:
evening

Wilgrea7:
following...


i must say, this Paul Ellis guy interests me

jiggaz:
morning..

TomHagen:
Even Jiggaz is promoting MMM. Ends shall never wonder.

antispexish:
examine the bolded above with the ones below



Joint stock company "MMM"
Акционерное общество «МММ»IndustryOffice Equipment importer (1989-early 1990s)
Ponzi Scheme initiator (1992 onwards)FateShut down by Russian police in 1994, declared bankruptcy in 1997Founded1989Defunct1994 (de facto)
1997 (de jure)HeadquartersRussia

МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s.[1][2] By different estimates from 5 to 40 million people lost up to $10 billion. The exact figures are not known even to the founders.

MMM was established in 1989 by Sergei Mavrodi,[2] his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken from the first letters of the three founders' surnames.

Initially, the company imported computers and office equipment. In January 1992, tax police accused MMM of tax evasion, leading to the collapse of MMM-bank, and causing the company to have difficulty obtaining financing to support its operations. Faced with difficulties in funding its foreign trade, the company switched to the financial sector. It offered American stocks to Russian investors, but met with little success. Later, MMM-Invest was created for the purpose of collecting vouchers during privatisation. This effort was similarly unsuccessful.

MMM created its successful Ponzi scheme in 1994. The company started attracting money from private investors, promising annual returns of up to one thousand percent. It is unclear whether a Ponzi scheme was Mavrodi's initial intention, inasmuch as such extravagant returns might have been possible during the Russian hyperinflation in such commerce as import-export.

MMM grew rapidly. In February 1994, the company reported dividends of 1,000%, and started an aggressive TV ad campaign. Since the shares were not quoted on any stock exchange and the company itself determined the share price, it maintained a steady price growth of thousands of percent annually, leading the public to believe its shares were a safe and profitable investment.

An important factor in the scheme's success was word of mouth, but most of the company's success came from its extremely aggressive ad campaign, which appealed to the general public by using "ordinary" characters that viewers could identify with. The most famous of them, a "folk hero" of early 1994, was Lyonya Golubkov. Another notable marketing effort was a giveaway of free Metro trips to all Moscow citizens on a particular day. MMM also was one of the first well-known companies in Russia with a logotype and slogans ("Flying from shadow to the light" and others).[citation needed]

At its peak the company was taking in more than 100 billion rubles (about 50 million USD) each day from the sale of its shares to the public. Thus, the cashflow turnover at the MMM central office in Moscow was so high that it could not be estimated. The management started to count money in roomfuls (1 roomful of money, 2 roomfuls of money, etc.).

Regular publication in the media of the rising MMM share price led President Boris Yeltsin to issue a decree in June 1994 prohibiting financial institutions from publicising their expected income.

The success of MMM in attracting investors led to the creation of other similar companies, including Tibet, Chara,Khoper-Invest, Selenga, Telemarket, and Germes. All of these companies were characterised by aggressive television advertising and extremely high promised rates of return. One company promised annual returns of 30,000%.

On July 22, 1994, the police closed the offices of MMM for tax evasion. For a few days the company attempted to continue the scheme, but soon ceased operations. At that point, Invest-Consulting, one of the company's subsidiaries, owed more than 50 billion rubles in taxes (USD 26 million), and MMM itself owed between 100 billion and 3 trillion rubles to the investors (from USD 50 million to USD 1.5 billion). In the aftermath at least 50 investors, having lost all of their money, committed suicide.

Several organisations of "deceived investors" made efforts to recover their lost investments, but Sergei Mavrodi manipulated their indignation and directed it at the government. In August 1994 Mavrodi was arrested for tax evasion. However, he was soon elected to the Russian State Duma, with the support of the "deceived investors". He argued that the government, not MMM, was responsible for people losing their money, and promised to initiate a pay-back program. The amount ultimately paid back was minuscule compared to the amount owed.

In October 1995, the Duma cancelled Mavrodi's right to immunity as a deputy. In 1996, he tried to run for Russia's presidency, but most of the signatures he received were rejected. MMM declared bankruptcy on September 22, 1997.

While it was believed that Sergei Mavrodi left Russia and moved to the United States, it is possible that he stayed in Moscow, using his money to change apartments regularly and employ a group of former special agents. With the help of a distant relative he started Stock Generation Ltd., another pyramid scheme based around trading non-existent companies' stocks in a form of the "stock exchange game" on the company's site, stockgeneration.com. Despite a bold-letter warning on the main page that the site was not a real stock exchange, between 20,000 and 275,000 people, according to various estimates, fell for the promised 200% returns and lost their money. According to U.S. Securities and Exchange Commission, losses of victims were at least USD 5.5 million.

Mavrodi was found and arrested in 2003. While in custody, Mavrodi was given until January 31, 2006 to read the documents in his fraud case against him (The criminal case consisted of 650 volumes, each 250-270 pages long).[citation needed] At the end of April 2007, Mavrodi was convicted of fraud, and given a sentence of four and a half years. Since he had already spent over four years in custody, he was released less than a month later, on May 22, 2007. He later went on to creating yet another pyramid scheme called MMM-2011.

The MMM scandal led to increased regulation of the Russian stock market, but the legacy of the fraud led many to become extremely suspicious of any joint stock companies.

In 2015 MMM began operating in South Africa with the same business model as MMM-2011, claiming a "30% per month" return through a "social financial network". The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank. In response to mounting criticism and official investigations by state authorities in 2016 supporters of the South African MMM scheme staged a protest march in Johannesburg.

In 2016, MMM launched a website targeting the Nigerian audience.[/b]

In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered)

Genesis2000:
I believe this is the right place to post this topic. Right now am not even concerned about the monetary aspect of it. That's why i have to bring it here.
Yes the CBN has warned us about this so called MMM. Yet CBN is only concerned about our money or preventing us from been scamed, which is also very right, and i really appreciate it.
But the Jesus says what does it profit a man if he gains the whole world and loosed his own soul?
So money is not the issue in this context. Even if you re scamed one billion naira, or thereabout atleast your life still remain.
I was also scamed recently about 75,000 when i was trying to purchased a piece of land at sango ifo LGA. It was half a plot of land which amounts to 150,000 but i have already paid Half of it before i realized that i have been scamed.
I was advice to go to police station to arest them, but when i thought about the whole process
i have to let it go. But atleast my soul remained i did not kill myself.
Yes the soul of anyone is more precious than anything you can think of in these world.
Has anybody ever think of MMM and what it really stands for? What is the full meaning of MMM?
Everybody is talking if they were scammers or not, genuie or not. In otheewords, we were only talking about the monetary aspect of it.
Hmmmmm think again.
I discussed it with my colleague, and he told me that MMM stands for money making machine. Lol
Do you agree with him?
Hmmm there is no way it could be money making machine, why? Good. 1 MMM does not even have any central account where investors can puts their money into.
2 MMM does not buy or sell any product, neither were they into any marketing.
3 MMM is not a binary option. A binary option is a software that was create to generate money which is normally fixed on autorun. These depends on the markets. It could be placed on gold, dollar or oil. Sometimes you may gain or loose. Some of you do understand what i was trying to say and can analyzed it better i do. And were very conversant to it I only want you to get a clue of where am coming from. So there is no way it could be money making machine.
So where do they get the 30 present from, which prospective owners receives?
How do they make their own gains?
Don't you thinks there are more to these than meet the eyes?
Mr bola pays to Mr idowu personal bank account. In otherwords they pay directly to each others banks account and not to MMM account. I was told
when you start with 20,000 and above you will receive a bonus of 20 dollars which is an equivalent to 8000 or there about plus your 30 percents.
And beside, why were they hiding there faces and no physical address?
MMM is the only business or an organization on this earth that does not have a central account. Yet nobody is asking question, all we needed is just the money.
So what the hell is MMM?
Every alphabet stand for something.
How many will i be able to mention here? So who can tell us what MMM stands for?
Now when you look at it numerically it stands as 888.
All this perfect numbers always has a meaning attached to it, that is beyond your understanding. E.g. 666 888 999. They all have meaning, and what they stands for.
And the most painful part of it was that Christians were not even aware of these, or they just decided to ignore it for love of money while were even advertising it to their members. Pathetic.
The devil is very trickish and can use anything to get people especially the believe. The bible forewarned that they will come as an engel of light so that they can get hold of the believers.
Alots of people believe that the mark of the beast will come after rapture. That is where they will be till they will receive the mark of the beast unaware. And by then it has been already too late. May God forbid. So you better be careful before you joined anything now weather on the net or anywhere as we were already on the last day.
God needs your soul while the devil also need your soul that why the bible called him a thief.
So many people thinks that the devil is only after your money, without knowing that human soul was actually his targets.
Remember he told Jesus to bowed down and worshiped him so that he can give him the kingdom of the world and the glory of it?
Today he is still offering Christians the same things he was trying to offer Jesus. Please don't fall for his tricks, don't fall for him.
Beware of MMM. I have said my own, atleast your blood will no be on my head. According to the book of Ezekiel. My spirit ministered this to my hearts yesternight when i was about to sleep.
I will appreciate it if the mod could move it to the front page to atleast to enlighten our people.
God bless you all.

jiggaz:
evening