₦airaland Forum

this is even decent

ariesbull:
The ‘Russian-made’ Ponzi scheme called MMM Nigeria has become not only popular in the West Africa country but also across the ocean as the international media has beamed its searchlight on what is now regarded as Nigeria’s biggest money-double scheme ever.

From their reports, the international media present a very bleak view of what the future holds for MMM Nigeria and other Ponzi schemes.
First to do a report on MMM Nigeria and others is respected British news daily Independent, which wrote that the Mavrodi Mondial Moneybox (MMM) is spreading like wildfire in Africa despite failing in Zimbabwe.


Independent UK takes a look at MMM Nigeria and others


It reported that MMM Nigeria continued to claim it was a legal entity even though the Central Bank of Nigeria declared it as not being so.
It noted also that founder of the scheme Sergey Mavrodi went on the run after the scheme first failed in Europe in the late 1990s, causing participants to lose around $100million and also went on the run again, earlier this (April precisely) after another scheme of his, Republic of Bitcoin, failed.
It wrapped up its report with the revelation that South African banks had, as at when the report was written in September, already shutting down accounts linked to the MMM scheme.

For CNN which wrote its own report after the freezing of MMM scheme on Tuesday, December 13, the bone of contention was the ‘meteoric rise of the MMM Nigeria’ and how it all went to hell.
CNN says a host of factors helped the rise of MMM Nigeria which led to over 3 million people joining the scheme

It noted that the scheme was actually launched in Nigeria in November 2015 but became very popular in 2016. It noted further that despite government warnings against the scheme, Nigerians went ahead to keep putting their funds into the Ponzi scheme.
Unemployment also played a part in the rise of MMM as fresh graduates and the unemployed turned to the scheme to ‘keep body and soul together’. It noted also that some religious leaders also helped to confer legitimacy on MMM Nigeria by allowing it to be preached from the pulpit by some members who are participants in the scheme.
The BBC predicts a dark future for MMM Nigeria even after January 2017


In the BBC’s report, the theme is all about the big question ‘Will money frozen in the scheme ever be returned?’ It noted that Mavrodi was jailed for four years in Russia after the scheme lost families savings of up to $100million. He was released in 2007 and not long after started to present the scheme in Africa.
It reports that while it is unclear if people will ever get back their invested money which has been frozen in the scheme, BBC noted that for sure, many people will lose their funds.


It ended its report with the doomsday prediction that “Even if MMM reopens in January as it claims, it is likely that the scheme would collapse at some point







https://etimesafrica./2017/01/29/cnn-bbc-predicts-a-dark-future-for-mmm-nigeria/#more-4218



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Every mmm news will make fp

Raiders:
Why is this woman not in jail? Nigeria is a lawless country and the law is only for poor people

What would you gain if she was in jail?
Yes, she was involved in an accident wherein recklessness was alleged. But then again, the family ought to accept settlement, the victim having died. Or is it because she is a celebrity?
I blame her on the part that she has not shown enough remorse though so a as to placate the bereaved.

cute kid in money

military and ewfizy

cute kid

This kind thing no sabi vex me. In fact osugamu onuma. Hian

taa who she epp?

vault

eiyaa. the only good thing from toke

what kind of rubbish is this?

gbesee o the simplest of all

even if u do they will not agree. k

even if u do they will not agree.

wetin shaking be kwan?

so op u mean that fr edeh is richer than tb joshua and pastor chris.