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SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud - Investment (12) - Nairaland

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Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by kazyhm(m): 11:02am On Sep 01, 2016
tuniski:


Wake up it is a fraud! They collect other People's cash to pay those who are older with them, immediately new mugu are not joining they will collapse!

Gbam!!

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by rozayx5(m): 11:02am On Sep 01, 2016
donbrowser:

This is exactly d way i was defending Just Been Paid then... He go soon clear for you eyes.


ha that scheme that folded after 2 years

i been loose small money there
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by An0nimus: 11:03am On Sep 01, 2016
mployer:


I cant beleive You wrote This. Did someone hack into your account.


Thought it was only me. After reading his post I had to re-check if it's the same Acid,osis.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by TaiwoLapi: 11:04am On Sep 01, 2016
MMM IS NOT A SCAM!

Its unfortunate how the system has brainwashed the people into believing they must work so hard and earn little. A lot of people are scared 'cos this new system is alien to them, all we've ever known is the wicked and selfish monetary system drawn by the rulling class and we've gotten used to it over the years. The morons writing rubbish about MMM on this thread are the stupid ones in the financial institutions (They are on this forum), the fable hearted and obviously people who are been paid to do so. For God sake, all these guys have been benefiting from our ignorance living large, wearing the best of suit and live in choice areas and you think they'd fold their hands and watch all these largess taken away?

I work in the advertising industry and I know how much they'd have spent on this campaign, and I asked me, when do they care so much about us to the extent of spending so much money on sensitising us?

What is their challenge? the funds are still laying there in the banks, when I help someone and transfer money to the person, the bank charges me, the government takesout their stamp duty, so what is the problem? oh! my 30% reward? come on, we are no threat to you guys, MMM is not for the super rich who are your real customers, all the bank does is collate all our funds and give to these guys, they wont give ordinary person like me loan on a good day.

I know a lot of people who are out of job as a result of this hash economy, but they are still able to put food on their table, pay their children's school fees and meet other obligations because of MMM, thousands of families who are suppose to be displaced now have hope and you guys want to take away their only source of hope, I will implore you guys to think about it very well, COS YOU ARE SITTING ON A TIME BOMB, cos the last thing you want to do is to trigger the anger of the already angry Nigerians.

If MMM is a scam, you guys dont need to spend money sensitising the public, a single hashtag would sort it, that is power of social media.

MMM IS REAL AND IS CHANGING LIVS.

2 Likes

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by manalone2(m): 11:06am On Sep 01, 2016
Levi16:

Have you thought about possibility of connivance with their Nigerian agents and web admin to channel some of the PH to their own local accounts? This is the loophole. Think. A web admin will understand my point easily.

and how come I get paid each time I GH are u saying I am an agent?
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by tuniski: 11:07am On Sep 01, 2016
OVERCONFIDENCE:

Yes MMM is fraud
Yes MMM is a ponzi scheme.
Yes the founder of MMM is wanted.
Yes MMM will soon collapse.
Yes MMM is unrealistic.
Yes MMM participants are lazy people.
Yes MMM participants are gullible.
Yes Nigerians don't learn from history.
But,
Yes MMM is a system of financial freedom.
Yes MMM pays 30% of your spare money.
Yes MMM pays back your spare money within 3 Months.
Yes MMM allows you to earn free money with free money after 3 months.
Yes MMM gives you peace of mind $ confidence to reprovide help and get help for the next 50 years comfortably.
Yes MMM pays the bills conveniently.
Yes MMM will last long for the next 50 years.
I use this medium to advise every participant old and new, not to be greedy, set a target for yourself, for instance, you start up with a spare money of N100,000 in September, it's obvious that at the end of November,you must have recouped your money. It's very wise of you to still continue with your N100,000 Which is your profit over the last three months and get help continuously based on that for atleast three months before you increase your donation. With these idea MMM will last for ever because at this point there is no panic or pressure simply because you are now using free money to get free money. Let's all adopt this idea.
Thank you.
Free money ko free money ni! Thatis how people fall victim of 419 : the erroneous concept of free money! By the time they eventually collapse billions of naira would have been lost in this recession! The initial euphoria would have given way to gloom! To be Fore warned is to be fore armed!

3 Likes

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by OBAGADAFFI: 11:12am On Sep 01, 2016
TaiwoLapi:
MMM IS NOT A SCAM!

Its unfortunate how the system has brainwashed the people into believing they must work so hard and earn little. A lot of people are scared 'cos this new system is alien to them, all we've ever known is the wicked and selfish monetary system drawn by the rulling class and we've gotten used to it over the years. The morons writing rubbish about MMM on this thread are the stupid ones in the financial institutions (They are on this forum), the fable hearted and obviously people who are been paid to do so. For God sake, all these guys have been benefiting from our ignorance living large, wearing the best of suit and live in choice areas and you think they'd fold their hands and watch all these largess taken away?

I work in the advertising industry and I know how much they'd have spent on this campaign, and I asked me, when do they care so much about us to the extent of spending so much money on sensitising us?

What is their challenge? the funds are still laying there in the banks, when I help someone and transfer money to the person, the bank charges me, the government takesout their stamp duty, so what is the problem? oh! my 30% reward? come on, we are no threat to you guys, MMM is not for the super rich who are your real customers, all the bank does is collate all our funds and give to these guys, they wont give ordinary person like me loan on a good day.

I know a lot of people who are out of job as a result of this hash economy, but they are still able to put food on their table, pay their children's school fees and meet other obligations because of MMM, thousands of families who are suppose to be displaced now have hope and you guys want to take away their only source of hope, I will implore you guys to think about it very well, COS YOU ARE SITTING ON A TIME BOMB, cos the last thing you want to do is to trigger the anger of the already angry Nigerians.

If MMM is a scam, you guys dont need to spend money sensitising the public, a single hashtag would sort it, that is power of social media.

MMM IS REAL AND IS CHANGING LIVS.


Simple logic, if people fail to pay-in, nobody will get any pay-out.

So if you pay-in 10k to help a member, you will have to wait for another person to pay-in before you collect your money.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by basadenet: 11:14am On Sep 01, 2016
Some Nigerians are stubborn and gullible, Despite disclaimer notice by apex body, Sec, that activities of MMM is illegal and Ponzi scheme, that is, Baba ijevu, pam one from 2, yet some dullards still come on NL to defend fraudulent scheme. For the fact that some get paid, deos not guaranteed that the next person will be paid. Have you all forgotten about megawealth, gateway, farmersclub, paidwealth. When they crashed, a lot Nigerians Were sent to their ultimately death, some forced to leave Lagos while some suffer stroke etc. You can Google to know more about the founder. He is a Russian, went bankrupt and.............check the rest from Google. You are sufficiently warned.

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by TaiwoLapi: 11:22am On Sep 01, 2016
There was a time people were taking bank loans to buy shares, cos it was lucrative, we had all the assurance, but what happened afterwards, I know quite a lot of people who died of stroke, some committed suicide and lots rand into bank debt. So do you think MMM could be worse than what happened to shares?

Those of you writing rubbish, the amount you guys were been paid cannot change you lives, but MMM can. if you want to complete you job, got drop your opinion on this link: http://punchng.com/online-fraudsters-hit-capital-market-sec-warns/

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 11:31am On Sep 01, 2016
Iceking1:

.
.
Hello sir, i want to register on mmm but am afraid, because i read some where that after someone requested from help from you if after two days you have not responded they you will be banned permanently and all your money will be lost.
send me a pm let me coach u...these people are talking bullshit here...jut send a pm
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by MicroBox: 11:31am On Sep 01, 2016
aminho:
oga take it or leave it i lost 500k naira on mmm its a fraud
Please do actually lost 500k to MMM? I m just curious..
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by basadenet: 11:32am On Sep 01, 2016
TaiwoLapi:
There was a time people were taking bank loans to buy shares, cos it was lucrative, we had all the assurance, but what happened afterwards, I know quite a lot of people who died of stroke, some committed suicide and lots rand into bank debt. So do you think MMM could be worse than what happened to shares?

Those of you writing rubbish, the amount you guys were been paid cannot change you lives, but MMM can. if you want to complete you job, got drop your opinion on this link: http://punchng.com/online-fraudsters-hit-capital-market-sec-warns/

When the bubble burst, you will be the first to complain on NL. For your info, nobody is paid to write negative things about MMM, but merely exercising their right to express their views as enshrined in our Constitution. I will advise that you read SEC disclaimer on MMM. Fly wey no dey hear word, Na him dey follow dead body enter grave. I hope you see the light soon.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Alirauf(m): 11:34am On Sep 01, 2016
Lol, they keep sayin they r helpin each other but non of its members can tel u d base or foundation of it, should something happens. Well its ur money & ur life, just lyk a gambler (d winner think he will neva loss & kip betting more money until reality sets on him, whereas d losser kip betting thinkin he will win) like d saying goes seating on a keg of gun powder, it might or might not go off. Thr is no such tin as a free lunch. We don't envy u guys just stating d obvious, if u really want 2do charity u knw whr 2go. Fyi my brother joined i couldn't stop him, am just lukin @him hopin he will not give me d pleasure of laffin at him wen it happens.

3 Likes

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 11:34am On Sep 01, 2016
jakiedudu:
This thing really makes sense.
Lets say I join MMM by helping someone out with N50,000. Later on I request for help. How much will another MMM member pay into my account?
send me a pm i have a testimony to give
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 11:35am On Sep 01, 2016
jakiedudu:
This thing really makes sense.
Lets say I join MMM by helping someone out with N50,000. Later on I request for help. How much will another MMM member pay into my account?
30 percent of your investment that's your 50k that's around 15k, you get 20 dollars for your first investment that's around 7k presently so you will get around 20k plus your 50k or more depending on when your called. After 30 days your money increases daily. Don't mind this funny government that is how they felt irritated because of dollar gift given to our footballers by a billionaire. If they knew how to tax that man for the money they would have done it.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by daejavuu: 11:40am On Sep 01, 2016
They simple add the 30% to your original investment and ask the next available helper to pay you. Very cool..they just created a platform for us to help each other.
niggi4life:
you are still speaking chinese, simple question, how does MMM make their own profit since they don't accept those money, rather people send this money to each other?
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by monsieurp: 11:42am On Sep 01, 2016
MMM is not scam as such but a very dangerous business concept. I have offered help of 500k twice and I have received help of 657k help the first time and 680k the second time( that is because I referred other people). Making a total profit of 337k in 9 weeks from an investment of 500k.

I have since removed the 300k from the system offering help of only 37k.

I gave the above experience to let those for MMM to understand that I not against the scheme BUT I doubt it would last very long not because the founder is out to scam people but because new people in the system would get too greedy and offer help beyond their capacity ( borrowing to offer help) while the old guys in the system like myself would offer less help as such hang the system

The 30% is sourced from other people money. if supply is less than demand the whole system collapses.

The scheme may not crash this year or next year but it would definitely crash just like the stock market. Your best bet it to get in early and get out early or not to get in at all.

As for me I have made enough and I won't risk any new investment in this venture except what I already have invested in it.

3 Likes

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by dagok(f): 11:43am On Sep 01, 2016
If MMM is a Scam,then I like the way they scammed people because it is really changing ordinary Nigerians lives like me,in fact,I would prefer to be scam by MMM than these yeye Government that promised me Change that I'm yet to see.Government that doesn't care whether I die of hunger or not is now suddenly concern about the risk I take with my money wey no even Concern them in the first place,who is fooling who?be wise fellow Nigerians the truth of the matter is that some powers that be are feeling threatened by the growing popularity of MMM and they know it will affect their businesses in which they have interest so they are trying to create fear in people's mind so that the popularity of MMM will reduced. Long Live MMM.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by charlezok(m): 11:46am On Sep 01, 2016
slavery.

2 Likes

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 12:01pm On Sep 01, 2016
PaulIdu:




MMM Global Ponzi collapses, Sergey Mavrodi in hiding

Apr.09, 2016 in MMM Global

The financial apocalypse is upon us, MMM Global has collapsed.

BehindMLM called it yesterday, the only reason a Ponzi scheme stops paying out is if there are banking issues or they run out of money.

MMM Global’s use of BitCoin rules out the former, so with investors not paid out for over a month the writing was on the wall.

What we didn’t know was just how soon after publishing our article MMM Global’s collapse would be confirmed.

In a message sent to investor’s backoffices a few hours ago, their worst nightmare has been confirmed.

Referring to the “Republic of BitCoin” Ponzi scheme as an “experiment”, MMM Global blame the ROI percentage for the collapse.

...nice one, source please
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by TaiwoLapi: 12:02pm On Sep 01, 2016
MicroBox:

Please do actually lost 500k to MMM? I m just curious..

Explain in details how it happened.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by TaiwoLapi: 12:08pm On Sep 01, 2016
Alirauf:
Lol, they keep sayin they r helpin each other but non of its members can tel u d base or foundation of it, should something happens. Well its ur money & ur life, just lyk a gambler (d winner think he will neva loss & kip betting more money until reality sets on him, whereas d losser kip betting thinkin he will win) like d saying goes seating on a keg of gun powder, it might or might not go off. Thr is no such tin as a free lunch. We don't envy u guys just stating d obvious, if u really want 2do charity u knw whr 2go. Fyi my brother joined i couldn't stop him, am just lukin @him hopin he will not give me d pleasure of laffin at him wen it happens.

Could it be worse than what happened to shares? And why din't they warned us when the shares tsunami was coming? And as for you, by the time you realise you brother is on the right path, he'd have gone far in life.

Go and read people' comment on this link: http://punchng.com/online-fraudsters-hit-capital-market-sec-warns/

I know lots of Engineers, Doctors, Bankers and other brilliant professionals on MMM. We couldn't all be dumb as not to see all what you guys are pointing out.

MMM stated it's risk, we accepted, none on the platform is below 18, we are all risk takers, peradventure anything happen ( which wont anyways) we'd count our loss and move on.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by niggi4life(m): 12:20pm On Sep 01, 2016
Kunlegzy:
how do Facebook make his money, how do Bloggers make their money?
FACEBOOK MAKES MONEY FROM ADVERTS, YOU PAY THEM WITH CASH AND THEY POST YOUR ADS, WHICH IS TOTALLY CLEAR AND VIABLE AND FACEBOOK WONT EVEN GIVE YOU A WHOOPING 30% FOR NOTHING!!
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by jayhk(m): 12:24pm On Sep 01, 2016
one thing i have learnt I this world is that people like thinking they are WISE when they know little or nothing
MMM currently have 500k participants that are getting paid daily

whether you shout to the heavens that its scam or not they will still get paid

Instead of being paranoid and remaining STUPID ask for knowledge about the system from someone grounded and you will understand how STUPID you used to be

YOU ALL SHOUTING SCAM WILL JOIN US SOONER OR LATER..TAKE IT OR LEAVE IT

BE smart you see a life changing opportunity and your claiming to smart to be scammed

Why dont you let mmm changed your life first then worry about scam later lol!

Very soon your mates will be far above you then u will see that your smartness was stupidity!

AM A PARTICIPANT OF MMM ND AM GETTING PAID WHENEVER I NEED HELP BY ANOTHER PARTICIPANT

SMART DOESN'T MEAN WHEN YOU SEE A RISKY THING YOU RUN ....ITS ABOUT TAKING A CALCULATED AND PROMISING RISK....AND SEE YOUR LIFE CHANGING

if you need more enlightenment chat me up on 08101343006

THANKS

1 Like

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by skydeexie(m): 12:28pm On Sep 01, 2016
Peezie07:

So what happens if for instance I decide to pull the plug after requesting for lets say 100k and got paid?

There 's no plug to pull because you can never get paid if you have not provided help (PH) in the first instance.
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by jayhk(m): 12:33pm On Sep 01, 2016
niggi4life:
FACEBOOK MAKES MONEY FROM ADVERTS, YOU PAY THEM WITH CASH AND THEY POST YOUR ADS, WHICH IS TOTALLY CLEAR AND VIABLE AND FACEBOOK WONT EVEN GIVE YOU A WHOOPING 30% FOR NOTHING!!

YOUR SEEING MMM AS A BUSINESS THAT IS WHY YOUR GETTING IT WRONG

ok lets make this simple ...everyone knows "ajo" as the yoruba's call it or let me say this contribution thing we do....10 people bring 10k which is 100k and give one person 100k this month..that is over 100% return....so why can't we run a system where we pay eachoda 30% monthly ..its simply crowd funding everyone gets paid but at different intervals.....YES ONE DAY MMM MIGHT GO DOWN!!!
then thats why you need knowledge...in MMM we dont crash ...we only RESTART...start afresh then old funds be paid as the system balances...C'MON what more do I have to say before you understand what your missing?
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Efewestern: 12:33pm On Sep 01, 2016
chimauga:


[s] Just by letting ppl visit there website is enough to give them huge pay [/s]

Look at what you just type.. well am not surprise.. Nigerians re Gullible and don't use there brain.

Av been to that mmm site and i can tell u for sure that the site is not been monetize.. You think wen people visits a site u start having money ?.. lolz.. na wa.

Lemme educate u a little.

You only make money from a site through advert, Affiliate marketing e.t.c.. E.g Nairaland runs ads, Fb have there own ads, Google use AdWords.. without that they won't have money..


Common sense is indeed nt common

2 Likes

Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by PaulIdu: 12:35pm On Sep 01, 2016
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by TaiwoLapi: 12:35pm On Sep 01, 2016
niggi4life:
FACEBOOK MAKES MONEY FROM ADVERTS, YOU PAY THEM WITH CASH AND THEY POST YOUR ADS, WHICH IS TOTALLY CLEAR AND VIABLE AND FACEBOOK WONT EVEN GIVE YOU A WHOOPING 30% FOR NOTHING!!

What about Whatsapp before aqquired by Facebook?
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Alirauf(m): 12:36pm On Sep 01, 2016
TaiwoLapi:


Could it be worse than what happened to shares? And why din't they warned us when the shares tsunami was coming? And as for you, by the time you realise you brother is on the right path, he'd have gone far in life.

Go and read people' comment on this link: http://punchng.com/online-fraudsters-hit-capital-market-sec-warns/

I know lots of Engineers, Doctors, Bankers and other brilliant professionals on MMM. We couldn't all be dumb as not to see all what you guys are pointing out.

MMM stated it's risk, we accepted, none on the platform is below 18, we are all risk takers, peradventure anything happen ( which wont anyways) we'd count our loss and move on.
dats y i said its a gambl, might or might not go off with him losing
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Chidamsy(f): 12:37pm On Sep 01, 2016
SEC...My Mavro grows like grass grin

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