₦airaland Forum

with the recent unprecedented popularity of the so-called MMM investment scheme as a live-saving institution among middle and low class Nigerians (particularly), I have been compelled to get some information on this 'new firm', and the kind of 'highly profitable' ventures MMM embarks on with these sourced funds. but unexpectedly, what I found was quite shocking.
Below is the information about MMM and their previous operations:

MMM (Ponzi scheme company)
A ponzi scheme company 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.
Ponzi schemes occasionally begin as legitimate businesses, until the business fails to achieve the returns expected. The business becomes a Ponzi scheme if it then continues under fraudulent terms. Whatever the initial situation, the perpetuation of the high returns requires an ever-increasing flow of money from new investors to sustain the scheme. [2]
The scheme is named after Charles Ponzi , [3] who became notorious for using the technique in 1920. [4] The idea, present in novels (for example,
Charles Dickens ' 1844 novel Martin Chuzzlewit and 1857 novel Little Dorrit each described such a scheme), [5] was actually performed in real life by Ponzi who with his operation took in so much money that it was the first to become known throughout the United States. Ponzi's original scheme was based on the arbitrage of international reply coupons for postage stamps; however, he soon diverted investors' money to make payments to earlier investors and himself.
МММ was a Russian company that perpetrated one of the world's largest
Ponzi schemes of all time, in the 1990s. [1][2] By different estimates from 5 to 40 million people lost up to $10 billion. The exact figures are not known even to the founders.
History
MMM was established in 1989 by
Sergei Mavrodi, [2] his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken from the first letters of the three founders' surnames.
Initially, the company imported computers and office equipment. In January 1992, tax police accused MMM of tax evasion , leading to the collapse of MMM-bank, and causing the company to have difficulty obtaining financing to support its operations. Faced with difficulties in funding its foreign trade, the company switched to the financial sector. It offered American stocks to Russian investors, but met with little success. Later, MMM-Invest was created for the purpose of collecting vouchers during privatisation. This effort was similarly unsuccessful.

crazymommy:
He is a moderator on nairaland....

I don die!!!

just passing by

bvs

Owobobrown:
aruta is not slave, they are called omo-odo..Aruta are reincarnated man in female body,very spiritual people

please tell me more

Bugatie:
Arrest her for absconding from her duty posts, the kitchen and the room

"the other room" to be precise

why won't he get robbed when he keeps displaying his flamboyant lifestyle and extravagant spending all over social media... does he have to remind us that he is richer than us and that the recession isn't affecting him? who "Hair-Tapering" help??

laikas:
my two younger sis are very fat while me am lepka, does it mean i wil definitly get fat?

if a rich guy who knows how to "massage" the necessary sectors of your body grabs hold of you, then you shall know your true nature... Peace!!

when I saw Tonto's sister, I was wondering how her sister was so obese and tonto herself remains slim.. But now I can see that "destiny" can only be delayed, but cannot be denied.

Khd95:
That avogrado head tho
e be like arsenal logo

the guy wan take style resemble ozil

veekid:
For the first time; I'm proud of my useless governor

if you are proud of something useless, then that shows you are no useful than him

OK

I was just taking a stroll this morning when an unknown evangelist gave me this handbill inviting me to the program pictured below.. But I find the choice of words used for programme themes by new-generation pastors sounds rather absurd

Pics below:

DTRUMPER:

I like you already

yeah.. she's so ironical

when did his stomach get bloated all of a sudden, is he a beneficiary of Fayose's stomach infrastructure? Or has he swallowed "LUKUDEE"

...

Nigeria's Economic Superman

Dshocker:
Parpa low-low

.... parpa low-low, Belle Super

the Syrian war refugee (and pseudo- extremists) now has a judge that will vindicate them when they press charges against the US for not letting them in

should in case

Zoharariel:
Remove ISIS-Arabia from that list. Even Yemen is currently making a mincemeat hamburger out of that shithole inspite of Amerika's assistance.

Really?

how about Japan, North Korea, Saudi Arabia and hmmm... Iran
I'm not judging based on nukes, but these countries has made quite and impression on defense issue.

.....

Jidibia:
East korea dey border venezuela. Holla me if u wan go, i get some cr*cks to export.

no worry.. next time wey ooni of ife dey travel make u send am

saintfellow:
HMM who is rekkado banks? becaus here in nikwani in east korea, we dnt know him.

bros which continent east Korea dey abeg... I go like expand my palm oil business go there

3RNEST:
GOOD MORNING FRIENDS
I got issues on my Twin Dash Offers I can't use my Gift Data for some days now and I don't know why....
And what's For?? Here is the screens shot below

i had similar issues previously too, but i use this trick: just find another glo sim (probably your spare glo sim, or any of your friend's own that isn't on a browsing fone), gift the data to the other line, then pick the second glo line dial *777# and share the data back to urself..
Note: it is both lines that will be using the data

ikbnice:
If a school could send out this type of error-ridden letter to parents. It makes one begin to imagine the kind of product the school will be dishing out.

op you urself made an error.. there is nothing like "sent forth", it is called send-off

Never Give Up

I smell FP

Mr tonto-snake, mynd44 over to una o.. our guy don born.. make FP hear am

according to his Instagram post some hours ago:

source: https://www.instagram.com/p/BIL_jkwD1ze/