Lots of Zimbabweans are in a financial trauma as you read this, all thanks to the popular Ponzi scheme called MMM .
Thousands of people living in Zimbabwe, among them civil servants, vendors and more, were said to have lost thousands of dollars to fraudulent online pyramid scheme MMM Global Zimbabwe after the system collapsed recently. The social financial network, which relied on an accelerating number of new members to pay off the old, abruptly terminated its services without any prior notice last week leaving participants stranded.
Iharare.co reports that these Zimbabweans joined the online investment scheme with the sole aim of “getting rich quickly”. It was said that the Reserve Bank of Zimbabwe warned its people about the system, saying the scheme was fraudulent.
The scheme prides itself as a mutual aid fund under which recruited members contribute money to assist others and are promised investment returns of 30 percent per month. Some of the people left counting their losses told The Herald that they received emails that the scheme had been suspended until September 15.
One of the participants, Mr Tinashe Muza of Harare said: “All along things were moving in the right direction and we now have nowhere to claim our investments. 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.”
Currently, the scheme is in Nigeria and it is called MMM – Federal Republic of Nigeria. Lots of Nigerians are on the scheme and the scheme actually works (just like how it was working well at first in Zimbabwe). MMM Nigeria, is a Ponzi scheme that originated in Russia that has now set up in Nigeria. Wikipedia says the company was involved in one of the biggest Ponzi schemes in the 1990s. It was estimated that thousands of people lost up to $10 billion dollars.
Well, a lot of people think the scheme is legit and not a scam but the history of the company says the opposite. Only time will tell
https://www.naij.com/982574-popular-mmm-crashes.html?source=index_shared
cc lalasticlala, mynd44

OP d source of dis news or........ By d way Mynd444 we need to talk

This is how people make money from MMM....

Sergey Panteleevich Mavrodi is a Russian criminal and a former deputy of the State Duma. He is the founder of the МММ series of pyramid schemes

When you are looking for fast money, always prepare for the big risk. MMM ko NPL ni wey Naijabet dey.

Op you try but at least MMM is far better than your government

ikbnice:
Lots of Zimbabweans are in a financial trauma as you read this, all thanks to the popular Ponzi scheme called MMM .
Thousands of people living in Zimbabwe, among them civil servants, vendors and more, were said to have lost thousands of dollars to fraudulent online pyramid scheme MMM Global Zimbabwe after the system collapsed recently. The social financial network, which relied on an accelerating number of new members to pay off the old, abruptly terminated its services without any prior notice last week leaving participants stranded.
Iharare.co reports that these Zimbabweans joined the online investment scheme with the sole aim of “getting rich quickly”. It was said that the Reserve Bank of Zimbabwe warned its people about the system, saying the scheme was fraudulent.
The scheme prides itself as a mutual aid fund under which recruited members contribute money to assist others and are promised investment returns of 30 percent per month. Some of the people left counting their losses told The Herald that they received emails that the scheme had been suspended until September 15.
One of the participants, Mr Tinashe Muza of Harare said: “All along things were moving in the right direction and we now have nowhere to claim our investments. 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.”
Currently, the scheme is in Nigeria and it is called MMM – Federal Republic of Nigeria. Lots of Nigerians are on the scheme and the scheme actually works (just like how it was working well at first in Zimbabwe). MMM Nigeria, is a Ponzi scheme that originated in Russia that has now set up in Nigeria. Wikipedia says the company was involved in one of the biggest Ponzi schemes in the 1990s. It was estimated that thousands of people lost up to $10 billion dollars.
Well, a lot of people think the scheme is legit and not a scam but the history of the company says the opposite. Only time will tell
https://www.naij.com/982574-popular-mmm-crashes.html?source=index_shared
cc lalasticlala, mynd44

<<<<HEAVY LIES>>>>>... HEAVY LIARS>>>>YOU ARE ALL LIES AND HATERS COS PEOPLE ARE NOW FINANCIALLY FREE>>>>..

<<<<ZIMBABWE MMM ONLY DID A RESTRUCTURING AND IT IS VERY ALIVE AND THRIVING>>>> READ VIA THE LINK BELOW>>>


http://www.google.com/url?q=http%3A%2F%2Fbabsol.com.ng%2Fremodel-of-mmm-zimbabwe-does-not-mean-collapse%2F&sa=D&sntz=1&usg=AFQjCNF78qEJfXJhEMO-tPF8G3RCBBqhqg

Ayatul:
When you are looking for fast money, always prepare for the big risk. MMM ko NPL ni wey Naijabet dey.

And naijabet na slow money. Hypocrite. Mmm risk is even beta than that.