₦airaland Forum

StreetResponse:
Information reaching us says that Chuddy Anayo is making plans to relocate his newly married wife to Dubai.

But let him be informed that we are fully aware of his plans and would always be 2 steps ahead of him.

After sending out a false accusation letter blaming the govt. Chuddy and his fellow con men frooze the accounts of millions of Nigerians.

Chuddy provided help to proxy accounts running into billions and also collected bonuses and same most of which left the country frn bitcoin transactions.

January date is just a deceit to reduce the number of casualities which could result in a govt investigation and prosecution. Hence their decision to act carefully while perfecting their plans.

Nigerians open your eyes, forget about the January date, billions are in the custody of Chuddy, enough to go round.

We would continue to monitor his steps and that of his family, until every kobo is restored.

EmerieUduchukwu:
Alert: In Case You Missed It: MMM Managed By Convicted Russian Fraudster

• Published By Independent Newspaper United Kingdom

Thousands of investors are feared to have lost their money after a pyramid scheme run by a convicted Russian fraudster crashed, somewhat predictably, in Zimbabwe.

MMM Global has swept across Africa, with branches promising returns on investment of 30 per cent a month in South Africa, Zimbabwe, Nigeria and some east African states.

It is masterminded by the former Russian politician Sergey Mavrodi, who went on the run when the original MMM – standing for Mavrodi Mondial Moneybox – collapsed in the late 1990s, losing investors an estimated $100m.

On its website, MMM Global unashamedly advertises itself as a scheme whereby new members “assist” older members by paying a fee to join. Older members are allowed to withdraw money after a certain period of time, and receive bonuses for encouraging others to sign up.

Mavrodi himself is reported to have gone into hiding after a separate entity designed to reward investors with the cryptocurrency bitcoin – dubbed the “Republic of Bitcoin” – folded in April this year.

And since then, a criminal investigationhas been launched into MMM Global’s branch in South Africa, after a probe by the National Consumer Commission “found something” to suggest the scheme was acting illegally.

With Zimbabwe’s traditional financial institutions in jeopardy and the country gripped by an economic crisis, thousands turned to MMM Global as an investment that was avowedly independent of government control.

That’s despite a warning from the Reserve Bank of Zimbabwe that the scheme was fraudulent. RBZ warned members of the public that existing investors were “paid money not from genuine market investment of their funds, but from contributions made by new investors, until a point when the scheme can no longer attract new investors”.

Sure enough, users reported being unable to withdraw any funds earlier this month. One told The Herald newspaper: “When we started putting our funds in the scheme one could get assistance within seven days but things later changed to 14 days and when we were shut out the waiting period was 21 days.

“What it simply means is that the number of people in need of help has outnumbered the number of people joining. Right now we have nowhere to get our money which we invested.”

Despite the cautionary tales of Zimbabwe and South Africa – and indeed the original MMM scheme – a branch is now proving increasingly popular in Nigeria.

The Central Bank of Nigeria has been forced to step in, warning consumers not to deposit money in any institution that is not insured by the Nigeria Deposit Insurance Corporation (NDIC).
The bank’s comms director, Isaac Okoroafor, described MMM Global as “a new Ponzi scheme … that is spreading like wildfire”.

“These people always come with very interesting propositions,” Mr Okoroafor said. “These are fraudsters who are just out there to collect people’s money and run away as soon as they hit their target.”

MMM Global’s members across Africa continue to defend its legitimacy, publishing screengrabs showing withdrawals as proof the scheme pays out.

In South Africa, where a Ponzi scheme is defined as any investment where the return is 20 per cent higher than the repo rate (currently 7 per cent), an anonymous member told business website Fin24: “MMM honestly tell people how it really works and do not promise people any return on the investments.

“As a donation programme, how is it possible to lose your donation? In MMM people ask each other to help them. It depends on the members themselves to maintain the continuation of the process of the provision of help to each other.”

A number of South African banks have now started shutting down accounts they believe could be linked to MMM, while in Zimbabwe the trusted mobile money transfer company EcoCash has distanced itself from the scheme, saying it is “not liable for any losses arising from the use of EcoCash to engage in illegal activities such as Ponzi schemes”.

This post was directly copied from independent.co.uk/news/world/africa/mmm-global-russian-ponzi-scheme-from-1990s-reborn-and-now-spreading-like-wildfire-in-africa-a7333366.html%3famp

abbey621:
We know a promoter when we see one, you are just spewing rubbish and mixing everything together. No evidence to back up your claim,I doubt if you even know the brains behind MMM

abbey621:
You named less than 10 countries, please at least name 30 so I can take you seriously even China that you mentioned,they are no longer operational there as the government has declared them illegal, I see you also mentioned USA tell me what kind of weed have you been smoking? Listen to yourself, would you like a company from Russia selling insurance in Nigeria without the approval of the government? Can such a company ever do such rubbish in a country like the USA or the UK? Why must we always encourage scams in Nigeria? Why!

PeridotBelle:
Aha! Am back, so I got banned for trying to give u tips on another profitable investment platform, I wonder what this mods take for breakfast atimes

So, back to you advice, it won't get ugly for me cos am not greedy

drnoel:
Ok time will tell

MMMLord:
Sergei mavrodi is a mathematician, a computer programmer and one time senator in Russia parliament. He knew all this before that was why he had provided every necessary safe net for MMM to stand in time of war or evil forces from government and the enemies.
This are the few out of many reasons why MMM can not crash by any person, organisation, or government

1.MMM don't have offline office or physical structure, that can be shut down
2.MMM has no central account anybody can freeze
3.MMM operates in 118 abroad countries so PH and GH are done globally
4.MMM uses bitcoin and wallet for transaction
5.MMM has guiders who are safe net
6.MMM has the strongest server in the world
Therefore MMM has come to stay till the end of the world. The financial liberation. No panic, very soon Nigeria government will apologize to all Nigerians.

Long live Sergei mavrodi
Long live Nigeria MMM
Long live mavrodians

drnoel:
Na wah for some people. Pls how does the government protect mmm from crashing? Smh!
Educate urself. See link https://en.m.wikipedia.org/wiki/Sergei_Mavrodi

BiafraBushBoy:
It remains the best thing till it comes crumbling...

Not a prayer, but a certainty...

Russians didn't see it coming

Chinese people didn't see it

South Africans didn't see it...

I am an MMM participant, but trade with caution. Be mindful of how you lure new investors into the system...

Trade with Money you could afford to lose!!

Jamiati:
Cursing govt is not the solution, they have the power to ban it and there's nothing anyone can do. Even heard MMM was banned in China.
Not only in China, but in South Africa, Tanzania even in Russia the said origin of MMM

Jamiati:
Cursing govt is not the solution, they have the power to ban it and there's nothing anyone can do. Even heard MMM was banned in China.
Not only in China, but in South Africa, Tanzania even in Russia the said origin of MMM

Zambux:
Tell me something I don't know #iranu

Zambux:
Tell me something I don't know #iranu

micgray100:
JUST GOT pERMISSION TO UPLOAD ONE OF MY WORK BY A NAIRALANDER....... EXPECTING HIS COMMENT HERE...

EL-ROI MANOR NIGERIA LTD.

pinkiecutie:
AMEN! AND AMEN..
THANKS FRIEND

Nomzylicious:
Any june 19 bbm pin 23247F19