Re: The Poison That Is MMM by Holatunde007(m): 10:14am On Jan 27, 2017 |
Mmmm again? |
Re: The Poison That Is MMM by Arewa12: 10:14am On Jan 27, 2017 |
Please can dis mmm bullshit stop..... mmm nd nairaland be like 5&6 mtcheeww |
Re: The Poison That Is MMM by Vaxt(m): 10:15am On Jan 27, 2017 |
Nairaland be battling MMM like Nigeria & biafra |
Re: The Poison That Is MMM by lakesider(m): 10:15am On Jan 27, 2017 |
brown envelope journalism , pls leave mmm and talk abt 80% Nigeria live below poverty line Nigeria has about the worst transport system in the world Nigeria has highest maternal mortality Nigeria has one of the worst health system etc journalism should not be by fatest brown envelope 2 Likes |
Re: The Poison That Is MMM by oladimejiX: 10:16am On Jan 27, 2017 |
9jakohai:
And a lot of bad for many others. Na so Life be my brother |
Re: The Poison That Is MMM by Ezedon(m): 10:16am On Jan 27, 2017 |
I wont forgive all those that made me to eat this poison unless i survive it |
Re: The Poison That Is MMM by chineduho: 10:16am On Jan 27, 2017 |
Forget MMM and check my signature for the ultimate solution |
Re: The Poison That Is MMM by webmaster3: 10:16am On Jan 27, 2017 |
The noise about MMM has made other peer - peer donation schemes soar higher. Lots of Nigerians using the other schemes are reaping bountifully and been quiet on it due to the media exposure MMM had. Abeg keep talking more on MMM. |
Re: The Poison That Is MMM by folahann(m): 10:16am On Jan 27, 2017 |
When they were getting paid, we couldn't hear word. Now the table has turned, they must not hear word too. Preach on and make fun Of MMM participants 1 Like |
Re: The Poison That Is MMM by HHH7king: 10:17am On Jan 27, 2017 |
hmuhammad: The Central Bank of Nigeria (CBN) recently warned citizens to beware of trading in virtual currencies such as bitcoin, ripples and litecoin. Its warning was in apparent response to the reappearance of Mavrodi Mondial Moneybox (MMM) Ponzi scheme on January 13, after it abruptly froze its account in December last year. CBN said, “The attention of the banks and other financial institution is hereby drawn to the above risks and you are required to take the following actions pending substantive regulation or decision by the CBN. Ensure that you do not use, hold, trade and/or transact in any way in virtual currencies.”
Religious organizations also issued warnings against MMM. Islamic scholars for example said it is haram. The Redeemed Christian Church of God also warned its members earlier this month against participating in MMM. RCCG’s General Secretary Pastor Johnson Odesola wrote in a memo, “Please be informed that the doctrine of the church does not support get rich quick schemes, gambling, betting etc in any form. God is and remains our supplier by the application of biblical principles of working diligently with our hands.”
Despite these warnings from temporal and spiritual authorities, Nigerian participants in MMM are bent on trying their luck in the get rich quick scheme. When they gain money, they hold that up as a validation of the scheme. When they lose money, they find neat ways to explain it. This isn’t unconnected with the fact that MMM employs many ways to explain the dubious Ponzi scheme to the gullible. For example, when it returned to Nigeria, MMM claimed that it would now use bitcoin. The announcement was a clever tactic to piggyback on the rising profile of bitcoin, a virtual currency that was hitherto more popular among online pirates. But their main marketing technique is to get the participants - their victims - to take ownership of the scheme and sell it to more prospects with similar greed and emotional composition. It is the reason why they give extra points to members who create testimonial videos.
However, Nigerians may pay attention if they know the background of MMM’s founder, no matter their gullibility, appetite for quick cash or uncritical mindset. Sergey Panteleevich Mavrodi is a Russian criminal. Born in 1955, Mavrodi first established MMM series of pyramid schemes in 1989. Later, he became a fugitive and was finally convicted in 2007 by a Russian court for defrauding 10,000 people of 4.3 million dollars. The court sentenced him to four and a half years in penal colony and fined him 10,000 rubles ($390).
Mavrodi’s term in prison didn’t reform him as he returned in 2011 with another version of the pyramid scheme called MMM-2011. But he is wiser now; as pyramid schemes aren’t illegal under Russian law, he was more truthful. He declared that, “It is a naked scheme, nothing more ... People interact with each other and give each other money. For no reason!” Yet, a little over a year later, he froze the account and announced that there would be no more payouts! That didn’t stop him from branching into India, China and in September 2015, he forayed into South Africa where he promised 1% interest every day or 30% per month. In 2016, he opened shop in Zimbabwe and etched his footprints in Nigeria, sweeping his roving hands across the bank accounts of greedy Nigerians.
It would appear CBN is struggling to find the appropriate laws to use in declaring the scheme illegal and to also use for possible prosecution of the promoters. This is exactly the position the United States found itself in when Mavrodi ran Stock Generation in that country from 1998 to 2000. First, a district court found that U.S. Securities and Exchange Commission couldn’t establish that SG committed any securities violations. But in 2001, the United States Court of Appeals reversed that decision and in 2003, SEC obtained a permanent injunction against Stock Generation. Nigerian authorities should copy this example. Some Nigerians must be protected from themselves.
Cc; lalasticlala mynd44. Every right thinking person knows the truth about MMM,but laziness,greed and get rich quick syndrome is our problem
http://www.dailytrust.com.ng/news/editorial/the-poison-that-is-mmm/182789.html |
Re: The Poison That Is MMM by jbaby265(f): 10:17am On Jan 27, 2017 |
Go find job pls.. MMM this MMM that warrisdis sef.. So I should not drink tea and drop cup again because MMM eat your money @op |
Re: The Poison That Is MMM by Vaxt(m): 10:18am On Jan 27, 2017 |
chineduho: Forget MMM and check my signature for the ultimate solution thunder like the weight of a planet |
Re: The Poison That Is MMM by ndcide(m): 10:21am On Jan 27, 2017 |
Can they tell us something new about MMM? even the people commenting are not saying anything that has not been said yesterday and the day before.
They've said it a thousand times. Give us a break. |
Re: The Poison That Is MMM by Nobody: 10:23am On Jan 27, 2017 |
From solution to problem to poison, how tables turn so fast |
Re: The Poison That Is MMM by TinaAnita(f): 10:24am On Jan 27, 2017 |
Another word for MMM is GREED |
Re: The Poison That Is MMM by chemistry101: 10:25am On Jan 27, 2017 |
Has any body been paid using bitcoin? |
Re: The Poison That Is MMM by Sovet: 10:25am On Jan 27, 2017 |
Clowns. Every drug is poison mumu people Mmm pays and still pays go and Bleep ya self ...see matching today...the dispatcher has been fix... Trump said the most dishonest people on earth are the media... And he is correct! Very correct 1 Like 1 Share |
Re: The Poison That Is MMM by lakesider(m): 10:27am On Jan 27, 2017 |
central bank and media that cannot rescue the economy . smh |
Re: The Poison That Is MMM by DonCortino: 10:29am On Jan 27, 2017 |
Is mmm the only ponzi scheme?? |
Re: The Poison That Is MMM by akanbiaa(m): 10:34am On Jan 27, 2017 |
So no religious body made statements on gambling, sport betting lotto, unemployment etc? Seems Hell will be filled by hypocrites indeed more than real sinners 1 Like |
Re: The Poison That Is MMM by hmuhammad(m): 10:35am On Jan 27, 2017 |
[s] Mouthgag: [s] Rubbish!
Joblessness at its peak.
99.9% of mmm participants already know some of this nonsense and have made up their mind. Use your time for something productive. Leave mmm alone.
Mind you, mmm is still marching people to pay. The decision remains yours to pay or not. Pay if you hopeful... Don't pay if you are skeptical.
The issue is just that, many people will forfeit their mavro. Imagine you're asked to PH 10k and you have 500k in your mavro... P.S, don't tell me the 500k has no value.... Don’t Tell me what I know. [/s] |
Re: The Poison That Is MMM by JennieCutie4U(f): 10:35am On Jan 27, 2017 |
mk una leave d mavrodians to mourn their loss in peace na, they've learnt their lessons already, don't kill or choke them with this everyday MMM dis MMM dat...let's console them. dear mavrodians take heart, it is well. |
Re: The Poison That Is MMM by Banjo24: 10:38am On Jan 27, 2017 |
LOTS OF PEOPLE ARE MATCHED TODAY...
I DO HOPE U CARRY THIS NEWS AS WELL |
Re: The Poison That Is MMM by FavoredGuy: 10:50am On Jan 27, 2017 |
Op, though your post may hit front page because of MMM wey dey am but for me u succeeded in saying nothing, absolute nothing because you just said what others have been saying before. |
Re: The Poison That Is MMM by DLuciano: 10:51am On Jan 27, 2017 |
hmuhammad: The Central Bank of Nigeria (CBN) recently warned citizens to beware of trading in virtual currencies such as bitcoin, ripples and litecoin. Its warning was in apparent response to the reappearance of Mavrodi Mondial Moneybox (MMM) Ponzi scheme on January 13, after it abruptly froze its account in December last year. CBN said, “The attention of the banks and other financial institution is hereby drawn to the above risks and you are required to take the following actions pending substantive regulation or decision by the CBN. Ensure that you do not use, hold, trade and/or transact in any way in virtual currencies.”
Religious organizations also issued warnings against MMM. Islamic scholars for example said it is haram. The Redeemed Christian Church of God also warned its members earlier this month against participating in MMM. RCCG’s General Secretary Pastor Johnson Odesola wrote in a memo, “Please be informed that the doctrine of the church does not support get rich quick schemes, gambling, betting etc in any form. God is and remains our supplier by the application of biblical principles of working diligently with our hands.”
Despite these warnings from temporal and spiritual authorities, Nigerian participants in MMM are bent on trying their luck in the get rich quick scheme. When they gain money, they hold that up as a validation of the scheme. When they lose money, they find neat ways to explain it. This isn’t unconnected with the fact that MMM employs many ways to explain the dubious Ponzi scheme to the gullible. For example, when it returned to Nigeria, MMM claimed that it would now use bitcoin. The announcement was a clever tactic to piggyback on the rising profile of bitcoin, a virtual currency that was hitherto more popular among online pirates. But their main marketing technique is to get the participants - their victims - to take ownership of the scheme and sell it to more prospects with similar greed and emotional composition. It is the reason why they give extra points to members who create testimonial videos.
However, Nigerians may pay attention if they know the background of MMM’s founder, no matter their gullibility, appetite for quick cash or uncritical mindset. Sergey Panteleevich Mavrodi is a Russian criminal. Born in 1955, Mavrodi first established MMM series of pyramid schemes in 1989. Later, he became a fugitive and was finally convicted in 2007 by a Russian court for defrauding 10,000 people of 4.3 million dollars. The court sentenced him to four and a half years in penal colony and fined him 10,000 rubles ($390).
Mavrodi’s term in prison didn’t reform him as he returned in 2011 with another version of the pyramid scheme called MMM-2011. But he is wiser now; as pyramid schemes aren’t illegal under Russian law, he was more truthful. He declared that, “It is a naked scheme, nothing more ... People interact with each other and give each other money. For no reason!” Yet, a little over a year later, he froze the account and announced that there would be no more payouts! That didn’t stop him from branching into India, China and in September 2015, he forayed into South Africa where he promised 1% interest every day or 30% per month. In 2016, he opened shop in Zimbabwe and etched his footprints in Nigeria, sweeping his roving hands across the bank accounts of greedy Nigerians.
It would appear CBN is struggling to find the appropriate laws to use in declaring the scheme illegal and to also use for possible prosecution of the promoters. This is exactly the position the United States found itself in when Mavrodi ran Stock Generation in that country from 1998 to 2000. First, a district court found that U.S. Securities and Exchange Commission couldn’t establish that SG committed any securities violations. But in 2001, the United States Court of Appeals reversed that decision and in 2003, SEC obtained a permanent injunction against Stock Generation. Nigerian authorities should copy this example. Some Nigerians must be protected from themselves.
Cc; lalasticlala mynd44
http://www.dailytrust.com.ng/news/editorial/the-poison-that-is-mmm/182789.html Any day you people did not talk about mmm, then you are never fulfilled. How many times have you spoken about the hardship this bastard government has inflicted in the life of its citizenry, how many times have you voice out the rising inflation in this country and the bastardization of the naira. Only fools and lazy people will talk in what they know nothing about. For your information MMM is hale and hearty. We are more than hopeful of MMM than the satanic and tyrannic government of buhari. 1 Like |
Re: The Poison That Is MMM by glimpse(f): 10:53am On Jan 27, 2017 |
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Re: The Poison That Is MMM by BLWeb: 10:54am On Jan 27, 2017 |
Benite: Obviously seun has been paid to ruin mmm, am not a guider or have any personal interest in mmm but believes in fair reporting. seun lalastica and other mods what you guys are doing is very bad and pure wickedness. Seun you push anti-mmm to fp and block others that are pro mmm which is very bad. the poeple deserve fair reporting stop being biased. Seun whatever money you have been paid to ruin mmm is blood money because the panic you are creating have killed many people. Seun i value this forum and your effort but pls be fair. Here is a thread i saw this morning stating current state of mmm and people being matched and paid this morning. see it
https://www.nairaland.com/3595334/breaking-news-mmm-back-better pls check it out. am not a guider just believe in fair reportage. You sound as a die hard mavrodian. No need to deflect. The scheme is dead, don't whip up sentiments |
Re: The Poison That Is MMM by zealed64: 10:54am On Jan 27, 2017 |
people are here writing yeye about MMM...the truth is people are benefiting from it... Just this morning i know someone who got alert from MMM....
make i just get salary this month... I AM JOINING THE MMM!.. |
Re: The Poison That Is MMM by mildflame: 10:57am On Jan 27, 2017 |
MrImole: MMM was rather poisoned...
Just imagine! MMM una too much |
Re: The Poison That Is MMM by mildflame: 10:59am On Jan 27, 2017 |
BLWeb:
You sound as a die hard mavrodian. No need to deflect. The scheme is dead, don't whip up sentiments Shey NA ur Papa moni |
Re: The Poison That Is MMM by Nobody: 11:03am On Jan 27, 2017 |
You can sell or buy your bitcoin from me abeg chemistry101: Has any body been paid using bitcoin? |
Re: The Poison That Is MMM by ekwii: 11:04am On Jan 27, 2017 |
Mouthgag: [s] Rubbish!
Joblessness at its peak.
99.9% of mmm participants already know some of this nonsense and have made up their mind. Use your time for something productive. Leave mmm alone.
Mind you, mmm is still marching people to pay. The decision remains yours to pay or not. Pay if you hopeful... Don't pay if you are skeptical.
The issue is just that, many people will forfeit their mavro. Imagine you're asked to PH 10k and you have 500k in your mavro... P.S, don't tell me the 500k has no value.... Don’t Tell me what I know. If that bolded happens, then it not fair, it is complete 419. You people claiming they are still matching, i have not seen any person i know that has been matched. Abi, na your people or partners in business MMM are matching? 2 Likes |