MMM seems like one acronym many Nigerians will not forget in a hurry. The Ponzi scheme has taken Nigeria by storm with many sinking huge sums into it despite clear indications that it might crash.


MMM Ponzi scheme

According to Wikipedia, МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s. By different estimates from 5 to 40 million people lost up to $10 billion. The exact figures are not known even to the founders.

It is also vital to note that 50 investors in MMM committed suicide in 1994 after it crashed. The police closed the offices of MMM for tax evasion on July 22, 1994. The company tried to continue the scheme but the business shut down.


Now that Nigerians have taken to MMM in a huge way, here are some kinds of people that will feel the brunt if MMM crashes?



1. Nigerians who resigned their jobs

While it is quite strange, there have been stories of Nigerians who left their jobs because MMM started
paying well. These set of people feel that MMM is a more easy way to make money and so they have quit their jobs. If the scheme crashes today, this set of people will be left with no means of income and no job.


2. Nigerians who invested their savings

The news that MMM is paying has led many to
invest their entire life savings in the hopes that they will get huge returns based on the percentages. What happens when the scheme collapses? Losing their entire life savings is something that will lead to huge problems for
many Nigerians.


3. Those who sold their property

In the hopes of huge returns, many Nigerians have sold their properties and put the money gotten into the MMM scheme. Lands, homes and other investments have gone into the scheme What will happen to such people when it crashes?


4. Those who got married with MMM money and no jobs

There have been stories of young men who p upon getting their first MMM payment, decided it was time to settle down and get married. What happens when the MMM money dries up?? They will find it difficult to cope, if they do not have an extra means of income.


5. Bankers

While this might sound strange, there have been stories like this: "Some bankers who usually invest as much as N10m out of customers’ savings just to get a profit of N3m in return. We recently heard the story of a bank manager who committed suicide due to debt." To round up, this quote is fitting to represent the situation of Nigeria as regards MMM.

"It is easier to find a virgin in Nigeria than to find a non
MMM participant." - Arinze Esomnofu


There is a SaY that ''You never find yourself until you face the truth...''

Now lets face the Bitter truth, which of the categories did U fall into, MMM users here?

Below is a video talking about the MMM Ponzi scheme:

https://www.youtube.com/watch?v=Pqt3FBhiDhE

Cc: Lalasticala

OP why have you decided to take this termite infested wood home.

^{MMMers are a touchy lot, wish you luck.}

Kasich:
You forgot to add your father to the list

He is not one...

unclezuma:

OP why have you decided to take this termite infested wood home.
^{MMMers are a touchy lot, wish you luck.}

Lol

I hope we have enough doctors to handle MMM cases soon

My neighbor's wife have been running up and down this morning because her DiamondBank staff husband slumped and was rushed to the hospital after seeing that he wouldn't be able to get back his funds.
Now I understand the reason for their sudden flamboyant lifestyle. He had bought two cars this year and was boasting that they will park into their own house this December.

Abeg make Oga Jude no die o. I suspect he must have somehow tampered with people's money

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