₦airaland Forum

MrsExplorer:
I envision this post would be really long and i don't want it to be so i'll just go straight to the points and post relevant links. I would not try to convince you as i believe you are sane enough to come to your own conclusions. So lets see..,


WHAT IS MMM? History And All What Not

МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s.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 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.

An important factor in the scheme's success was word of mouth.

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.

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). 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.

Read More https://en.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)

But let me guess, that's all bullshit. An idiot that doesnt like the guy wrote that right? Well this is what is on their site

WARNING!

There are no guarantees and promises! Neither explicit nor implicit.

There are neither investments nor business! Participants help each other, sending each other money directly and without intermediaries. That’s all! There's nothing more.

There are no securities transactions, no relationship with the professional participants of the securities market; you do not acquire any securities. (Do you need them? :-))

There are no rules. In principle! The only rule is no rules. At all! Even if you follow all of the instructions, you still may "lose". "Win" might not be paid. Without any reasons or explanations.

And in general, you can lose all your money. Always remember about this and participate only with spare money. Or do not participate at all! Amen. :-))
http:///warning/


Now which legal business would give you that kind of Caveat? ...might not be paid? You invest 200k and you might not be paid? ...you can loose all your money and participate with your spare money...., ''So in this economic downturn you can actually invest your spare money in something that you might not be paid? My dear Goodluck to you.

But that's not even all you should know.

MrsExplorer:
Did not even think of it this way....

yorex2011:
I really hope people don't commit suicide at the end.
Everybody going round talking ideology this, ideology that lol.

Purewater business sef is better than this. Imagine buying bags at 100 naira and selling retail per bag @ 150. That's 50 percent gain.
And you know your not milking anyone.

I'd choose purewater business anyday over this lazy man's crap.

Even sports betting may be better, 1.30 odds is just too easy. You can comfortably and consistently make 100 percent profit monthly sef lol

yorex2011:
I really hope people don't commit suicide at the end.
Everybody going round talking ideology this, ideology that lol.

Purewater business sef is better than this. Imagine buying bags at 100 naira and selling retail per bag @ 150. That's 50 percent gain.
And you know your not milking anyone.

I'd choose purewater business anyday over this lazy man's crap.

Even sports betting may be better, 1.30 odds is just too easy. You can comfortably and consistently make 100 percent profit monthly sef lol

MrsExplorer:
THINGS YOU SHOULD KNOW


1. The MMM in Nigeria is still the same as the one above and run by the same guy who has been jailed for this same business and defrauded people before.

2. MMM does not gurantee anything.

3. It is not a registered company in Nigeria or anywhere else in the world.

4. It does not invest your money or use it for any form of business.


BUT PEOPLE ARE GETTING PAID, HOW IS THAT!

Let me just use this skenario(in Fallz's voice)

You know how that time you had that small box where you saved your money and dad promised you that if you could save enough money, he would add his own money and get a bicycle or a doll for you during christmas, then christmas came and dad fulfilled his promise. So the next year, you saved with the whole of your heart cos this time you wanted a PS2 or a high heel shoe but when christmas came Dad took your money and bought christmas fowl with it.

Well that is how this works, just kidding, that's not really how it works but you get my drift...., Initially you or someone you know might be getting your return on investment but as time goes on you would loose your money because its not really an investment, it just a pool of fund distributed among participants.

In a scheme like this you would be paid, maybe and maybe not but its just a matter of time before you loose your money or someone close to you. and there would be nothing you can do about it.

Understanding a ponzi scheme

A Ponzi scheme is a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profit earned through legitimate sources. Operators of Ponzi schemes usually entice new investors by offering higher returns than other investments, in the form of short-term returns that are either abnormally high or unusually consistent.

Explain Like A Farmer

Ok, i'm a young businessman with about 50k in my account, i promise you that if you deposit 20k with me, you'll get 30k back in one month for nothing, which at this point, you should just completely ignore me or give me a perfect punch, but you would not because you are greedy and want that extra 10k. At the end of the month, i knock on your doorstep and give you 30k(so good to be true) but i promise to increase it if you can bring in more members(because of course i cant keep paying you extra 10k from my own 200k).

In your excitement, you tell your friends, dad, mum, your grand parents and if you could communicate with the dead you could have told your ancestors. You showed them prove of payment and them like you couldn't just believe it so they jump in with you and register through you so that offcourse you would get your bonus.

so over a period of 3 months you were able to get 5 people plus you who invested various amount of money but by then end of the month i have to pay a total of 60k as interest..., but they didn't all register at the same month, so thank goodness i wont have to pay the whole of that 60k..,

DAD Invests 20k to get 30k by the end of january
MUM invests 40K to get 50k by the end of Febuary
BOYFRIEND invests 35k to get 45k middle of febuary..,etc etc

So what i do is, i used the deposits of others to pay the interest of those that are due to collect their money. hoping that this people who have collected would also advertise me and bring in more people so i can use their own money to pay the next set of investors.

Do you understand the madness or you are on the verge of going crazy like me. So its like a pyramid, you would get your money the more more money is coming in, without that i won't be able to pay you. That's why i do everything within my power to make sure you bring in more people and also encourage you to leave your money fo a longer time before you request for it.

When i have so many cash in the pool and i'm tired of dealing with lazy asses like you, i take all your money and move to the Bahamas to have a good time sipping coconut juice and getting massages from ladies in Bikinis. How long before i run? It could be 6months, 1 year, 4 years, or even planing to run now, just know i would run.

Now, those at the top of the pyramid(the first set of people to join the scheme) might not lose their money and would keep getting their return on investement but those at the bottom, err, i don't really know. So my question is do you really know your position on the pyramid? ''Are you really that daft to invest your money in something that is not sustainable? because well since others are getting money from it you would too.


wow, summary of the long sentence above...,

1. You invest, you might and might not be paid

2. Your money is not used for any business, your interest is paid from the money of others like you who also invested.

3. You have friends who have been paid?, soon you might start crying with those friends.

4. Don't mind any shitty term used on the site, a ponzi scheme is a ponzi scheme. Just know the pattern.


But wait, there is something else i need to say....,

moski5:
Hen I c such effort put into discrimination stuff like Mmm first I Name yu guys liars or bankers

if Yu've not lost money or kno sm1 who does then dont discredit d biz

of course MMM is a ponzi scheme but like I said b4 it's a dynamic ponzi scheme

Squad4:
If you have no problem with scamming people of hard earned money then you wouldn't have a problem with MMM. The system is working now but if you have half a brain you know it is designed to collapse someday. And when it does the people that would have lost their monies would be the victims and those of you collecting the monies now would be the scammers!

So please we understand how MMM works and it's interesting however I and the rest like me that oppose it have a moral view to the possible effect of the impending loses and for this reason I will never be part of MMM. It has nothing to do with wether I know you or not it's just a reap off scheme and people might commit suicide after these loses; thoughts like that would never allow me to do MMM.

So please guys carry on but quit trying to recruit us here we have heard it clearly.

natakin:
Please if you are joining MMM because of profit reasons then you are missing the whole point of MMM.

Hahahahahahahahahahahahahahhahahahahahaa

Save me that bullshit pls
Why else will anyone join MMM if not for profit reasons.

Or just because you love giving out money? Mr Philantropist
Or your money is no longer safe in your bank account and must therefore be transferred to someone else's account

yorex2011:
Well, it really doesn't concern me o, but lemme just say a few things so people understand whats at stake.

Dealing with each other, creates an avenue where Nigerians scam other Nigerians.

Let me explain, obviously no other money is coming into the system, only those put in by your fellow countrymen.
People claim to be smart and talk all sorts of strategies to know when to pull out bla bla.

The thing is, if you've made 3 million from the stuff and it eventually shuts down, that 3million you made is at the expense of folks who have lost money (since no external money is coming in). In other words you may have made money over someone's loss who may be contemplating suicide.

The psychology used by mr Mavrodi is very deep and ingenious (psychology of human trust and human greed).
Trust since you folks are dealing directly with your country men, greed because 30percent on interest cannot be gotten anywhere in this earth (you'll hardly find a bank or legal organization giving that).

The trust will ensure this post I'm writing now doesn't do anything as folk will be defending the scheme for him while he just waits.


Let me tell you how i would pull of this heist (remember i have no experience in cons, I'm just a regular guy who thinks deeply about stuff).

I'd just over the months, create fake personalities or citizens as many as possible who i will inject into the system. When it's time for the finale, i'd just tweak the code of the site abd direct people to pay into my fake personalities accounts (imagine placing 50 people who want to "help" with 100,000 each to all pay to one account (whose name is chukwuma adekule bello), that like 5 million in one of his fake citizens account, now imagine he has a thousand of such accounts, that's like 5 billion. I'm only giving an example, cos i know there are people who are willing to put as much as 5 million into the thing.

Eventually when all is said and done, the database and website will just be deleted.

He'd have pulled off an ingenious stunt with just php, html, mysql and psychology.

Of course I'm not discouraging nobody..
Disregard all i said

MrsExplorer:
Lol, that's what you read on his site right? well i'm jus grateful Nairaland is longlasting. Oneday you'll come back and read this post and you''ll realize how easy it was to decieve you. Enjoy my friend, while it lasts

chigoziri2403:
you are a prophetess, it has started, How I wish you could repost this, for the greedy ones to read, kindly give me a mention

Infinitikoncept:
Lols they won't listen but will defend the break in transmission with their last breath. I can't count those who finally allowed greed to take over just like betting. They allow you win #20 four games then greed sets in & you bet #500 only to discover you have been bamboozled.
I just pray it works by January cox my guy wey put 150k telling me he wants to make his MSC money to study abroad from the scheme no go one hear story ooo