MMM Nigeria this is how MMM Zimbabwe crashed, very similar to what is happening to you now.

MMM Zimbabwe made a lot of people rich but eventually made a lot more poor, typical of any pyramid/ponzi scheme that has come into existence.

Yes, the whole concept was to use “spare money” and this is probably the gospel your guiders preached throughout your participation but the truth is many participants succumb to the lure and excitement of earning “free money” at 30% interest just because you helped someone and at some point you would need help too.



In Zimbabwe, as we later realised, a lot of the guiders made a fair bit of money, with many of them converting their “mavros” the MMM digital currency into BitCoin and bought cars from Japan and continue to enjoy their money safely stored in BitCoin wallets, which is probably why a few weeks ago BitCoin in Nigeria was trading at an all-time high, they knew this was coming, and they cashed out before you could.

In Zimbabwe the first signs of MMM Zimbabwe coming to a halt when the Reserve Bank effectively distanced itself from any activity outside of its regulatory scope, they were powerless to either stop MMM Zimbabwe or help those who could potentially be affected by its subsequent demise.

This made a lot of MMM Zimbabwe participants wonder what exactly was going on to have the whole Reserve Bank come out and say they have nothing to do with MMM, confidence still remained but eyebrows started to get raised.


The smart participants caught wind of possible system crash and initiated a wave of withdrawals (GH) which led to another public blow for MMM Zimbabwe, the mobile payment system they had adopted as their primary means of transferring money to each other also distanced itself from MMM, citing it had nothing to do with any illegal activities that may or may not be happening on their platform. Again, confidence remained, but more eyebrows were raised.

Then MMM East Africa, MMM Zimbabwe’s parent organisation, froze all participants accounts and promised to have them reopened in a month after the Mavros system was replenished. The freezing allowed people to PH (deposit) but would not let anyone GH (withdraw) and this left a lot of people confused, the end of the fairytale ride was truly coming.

After the accounts were frozen, MMM was hit with increased public pressure which finally resulted in it reopening accounts, BUT, there was a catch, the Mavros had lost 80% of their value and were now trading at 1 USD = 5 Mavro, yet before it was trading at 1 USD = 1 Mavro,

We suspected that the change in the exchange rate was meant to prevent people from withdrawing as they could face massive losses of up to 80%. But on the other hand, the change in the exchange rate could have been placed to lure in new members after MMM promising that the exchange rate will stabilise back to 1-to-1 news existing members did not take well as new members would be offered free money while the old member are stuck in the system due to their accounts losing 80% of its value.

It was a take it or leave it stand-off between MMM Zimbabwe and its members, but that wasn’t the end of it, MMM then released another bombshell by granting participants access to just 1% value of their accounts, this is after the 80% reduction in value.

This meant that a participant may have had 10000 Mavros, losing 80% value to $2000, but can only withdraw 1% of that value which is $20, that is if they are fortunate enough to be matched with someone willing to Provide Help (PH). After the withdraw of 1% your account will be cleared out, leaving you with 0 Mavros in the system.

This was effectively the final blow and end of MMM Zimbabwe, very few participants got out with anything but the few that did are quite happy with all the hard work they put into getting new members and “guiding” them through the system earning bonuses and high-interest rates.

We were able to catch wind of some official communication which placed the affected MMM Zimbabwe Members at 66,000 and had MMM moving $3 million USD at its peak, a paltry figure if you compare Zimbabwe’s population to Nigeria’s which some media outlets are placing at a million victims.

Will you ever got your money back? Well its really up to you as participants but from MMM Zimbabwe experience the system is effectively shut down.

http://www.techzim.co.zw/2016/12/mmm-nigeria-mmm-zimbabwe-crashed-similar-happening-now/

Ok

FTC on your thread. Take am easy nau

7

Lets continue talking about this scam, so it will ingrain in the minds of the die-hard greedy nigerians, so when the next scam is coming up it will be easily identified and done away with. Lalasticlala what are you waiting for?

Some people will just kill their self ontop MMM..... Different stories everyday.... All na fake and fabricated news....



Long live MMM





Meanwhile


LETTER FROM MR OLUSEGUN (SHEGE) MAFRODY



Appeal to Journalists from Sergey Mavrodi

Dear journalists, “analysts” and all kinds of “experts”!

Please stop using MMM to gain cheap popularity. Leave us alone and let us work without interference. I’m just astonished by your irresponsibility and cynical attitude. Interests of millions of people, your fellow citizens are at stake. Don’t you have any sympathy for them? Why are you fueling hysteria around MMM and provoking a panic? Why are you doing this so diligently and persistently, what is your purpose?

In fact, absolutely all your provocative and worthless articles and “analyses” (I said “worthless” because you do not have any real information about what happens in the System, and might have never had; you simply invent everything, fabricate it) are merely negative: “MMM has collapsed!!!.. MMM will not be working in January!!!..” etc. Are you intentionally presenting all of it in such a manner and whipping up tension by any means possible in order to increase the ratings of your publications and attract attention to them? Don’t you care about people at all?

So, nothing has collapsed, and MMM will safely resume its work in January, as announced. Suspension of work for holidays is a usual thing, merely working moment, no more than that. It would have remained a normal, just a part of the usual routine, and might have gone almost unnoticed if it were not for your totally cynical and irresponsible attempts to advertise yourself, create a scandal out of nowhere, and make the most of this news topic in any possible way.

Again, leave MMM alone and let us work. Nothing has collapsed, and MMM will perfectly resume its work in January. We Can Change the World!


Sergey Mavrodi

If it doesn't get to Front page... Know that Nairaland has changed to Wonderland

NgeneUkwenu:
Ok

I thought you have passed struggling for FTC on your own thread... Ridiculous

MMM Pays
I am a Fan of Ugorgi, MMM Guider no1
I am a Fan of Sergey Mavrodi

.

Nigerians being scammed by mmm will still be scammed more by january because greed cant let them see the hole infront of them thats if mmm decides to come
by january.now i realise maga plenty for nigeria its not only overseas mmm revealed a lot of statistics about how guillable nigerians can be

Mavrodians be like.... Edakun epp me

I'm compiling my memes. On January 14, my Facebook friends who went into MMM would hate me for life.



This is how I feel knowing MMM has crashed after all the warnings.

MMM Zimbabwe is still functioning..........

MMM has shown us that the strongest of all human emotions is greed. - JonSnow 1895 AD

We warned them they never listened!

I Better play 9ja bet than investing in MMM(Moku mogbe modaran).

My fwnds even made mockery of me cause I told them am not ready to take the risk!

The truth is MMM is gone waiting for them to reopen that account it's just a false hope and lie from the heart of lucifar.

For those who sincerely hope and believe MMM'll bounce back In January you can as welll wait till eternity!

Quote me and you risk the chance of getting high blood pressure

Wahala MMM yii wa poju bayi oooo.

Lost nothing, gained nothing!

Blah Blah Blah....

I tire for this MMM matter

You did not invest instead of posted negative side of mmm why don't u focus on the positive side.., mmm don help many Nigerians ... Why Una nor dey post negative about buhari that is misleading Nigerians with lies...

we yaf hear, can we move on now?

nairaland on yr own u ave crashed mmm y putting fears in d heart of dcparticipants na come jan 14 u will see d truth not diz trash

Every Tom, Dick and Idiots now is an expert in MMM....OK, Continu

I De poo when I finish I go comment

JonSnow:
I'm compiling my memes. On January 14, my Facebook friends who went into MMM would hate me for life.

lol..

mmm stories every day.....will tis stop Buhari fr going for 2nd term

Ok, I didn't participate in this MMM cos I hate money doubling schemes but come on guys, it's getting stale, very stale already. Too much of everything is bad. Let's just.... oh dear.
Ok a test of the situation to be sure:

Click LIKE if you think MMM Topics are becoming Stale
Click SHARE if you want more MMM Topics.

MMM Participants & Nigeria Media