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Nairaland Forum / Nairaland / General / Investment / 3 Reasons Why MMM Scheme Fooled Nigerians (33343 Views)
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3 Reasons Why MMM Scheme Fooled Nigerians by condomuser: 6:32pm On Feb 02, 2017 |
It is notable to understand how the MMM Ponzi scheme started and the various factors that helped the Guiders deceive Nigerians into investing their hard earner money. Without going into much history about MMM, here are the most important reasons why MMM were able to fool Nigerians. 1. They started with a free money promotional campaign ie 30% bonus. As bad as it may sound, the first set of real people who got paid 30% of what they had invested were used as the promotional scapegoats to lure their friends, families and others. The MMM platform continued its promotional payments of 30%, 40% as the case may be. A lot of Nigerians were enticed with this mouthwatering offer to the extent they couldn't resist joining the scheme. Most of the second set of participants knew quite well they were joining a scam but they just couldn't resist the deal from Hell. 2. MMM website stated "Invest your spare money". Seriously, is there anything like spare money when you live in an unpredictable country like Nigeria. MMM studied its target market carefully and realized the best way to get more investors is to openly state "invest your spare money". This way you are tormented by your conscience when you invest little thereby you fall for them by investing more, the target market are gullible Nigerians who are so greedy and foolishly ignorant. 3. Greed Greed Greed An average Nigerian wants to get rich quick "I don't blame some", but I blame the people who deceitfully lured others into joining the scheme. The guiders and individuals greed to get more bonuses was a strong driving force which made the MMM scheme a huge success. Irrespective of the fact that Mavrodi's details has been all over the Internet as a Russian Criminal Nigerians neglected all the hand writing on the wall. I must say its unfortunate greed played a major role in the MMM scheme. Let's be watchful as the rise of schemes like this is yet to come. There are currently other schemes on ground silently gathering popularity, let's not let our greed take over our morals. Protect your money. 49 Likes 1 Share |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by condomuser: 6:33pm On Feb 02, 2017 |
I dedicate this FTC to my family and all the good people out there. If you want Nigeria to get better click "like" if you still believe MMM will pay click "share" (wake up). 20 Likes 27 Shares |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by semasir: 6:39pm On Feb 02, 2017 |
Lalasticlala...... These people won't let MMM rest oooooooooooooo..... Here They come again or should I mynd44 myself? 10 Likes |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by FTbomb(m): 6:53pm On Feb 02, 2017 |
nice article! wristbangle, come here and learn. cc: SalomonKane.. |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by FTbomb(m): 6:54pm On Feb 02, 2017 |
precise and elucidating.. 1 Like |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by wristbangle: 6:58pm On Feb 02, 2017 |
1 Like |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by SalomonKane: 7:09pm On Feb 02, 2017 |
FTbomb:I'm sure he'll only view the thread and shake his head. Things like this that makes sense is usually alien to peeps like him who depend on generalisation to make front page. ![]() 3 Likes 1 Share |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by wristbangle: 7:12pm On Feb 02, 2017 |
SalomonKane: Una get wahala sha. ![]() ![]() |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by SalomonKane: 7:17pm On Feb 02, 2017 |
wristbangle:Na una cos am na. Lol. |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by jericco1(m): 7:37pm On Feb 02, 2017 |
Cray |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by Noblesoul123: 7:37pm On Feb 02, 2017 |
The key factor in the MMM saga was greed. Mavrodi & co seized advantage of the existing desire by many people to get rich without working for it. I hope everyone will learn from this. No pain; no gain. 17 Likes
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Re: 3 Reasons Why MMM Scheme Fooled Nigerians by mmb(m): 7:38pm On Feb 02, 2017 |
1 Like 1 Share |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by nlanded: 7:38pm On Feb 02, 2017 |
MMM fooled those foolish enough to want to reap when they didn't sow, its that simple! Greedy and gullible set of folks! Does money grow on trees? How can you think money would be taken from Mr B and given to Mr A, then Mr B would be waiting for Mr C to join as well to pay him, by the time Mr C comes in there is already a 170% deficit in the system, multiply that deficit by a million participants and then you would see why ponzi schemes are evil! They were warned but never listened, like a rat whom is sprinkled little cheese to entice they kept moving towards the MMM trap till they got into the financial trap of their lives 41 Likes 1 Share |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by prince9851(m): 7:38pm On Feb 02, 2017 |
Jeeezes fecking kraist ...leave mmm pple alone na Mtchew Smh 3 Likes |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by NameChecker: 7:38pm On Feb 02, 2017 |
MMM participants/victims don suffer no be small |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by ednut1(m): 7:38pm On Feb 02, 2017 |
there are over 50 ponzi schemes in nigeria now plus whatapp ponzis ![]() ![]() 11 Likes |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by tofolo(m): 7:38pm On Feb 02, 2017 |
Spot the difference. 2 Likes 1 Share
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Re: 3 Reasons Why MMM Scheme Fooled Nigerians by Kobicove(m): 7:38pm On Feb 02, 2017 |
As far as I'm concerned these are the reasons: Number 1 - Greed Number 2 - Greed Number 3 - Greed ![]() 13 Likes |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by room089: 7:38pm On Feb 02, 2017 |
Hmmmm 1 Share
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Re: 3 Reasons Why MMM Scheme Fooled Nigerians by nabegibeg: 7:39pm On Feb 02, 2017 |
we don hear oooo |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by DrayZee: 7:39pm On Feb 02, 2017 |
Lol. MMM must have really dealt with the mod who keeps bringing these to front page. ![]() ![]() ![]() 3 Likes 1 Share |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by efilefun(m): 7:39pm On Feb 02, 2017 |
GREEDINESS is all i see 2 Likes |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by steppin: 7:39pm On Feb 02, 2017 |
Walai! Seun wants MMM losers to cry well well. Provide help, get help. "Ko ni da fun mavrodi" 1 Like |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by Vaxt(m): 7:39pm On Feb 02, 2017 |
Lol |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by KingsleyTMTTM(m): 7:39pm On Feb 02, 2017 |
nawao |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by juddexy2(m): 7:39pm On Feb 02, 2017 |
Haven't you heard the saying 'Idle Money is barren of income', without any form of sentiment... MmM saved lives too...why do we also fail to see that aspect? 9 Likes |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by goldenceo1: 7:39pm On Feb 02, 2017 |
b4 now have been used to bashing MMM participant in threads like this that graced front page. I really feel their pains MMM crash their lost, My Pain. |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by adewumiopeyemi(m): 7:40pm On Feb 02, 2017 |
Mmm wahala ![]() ![]() |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by DrayZee: 7:40pm On Feb 02, 2017 |
8 Likes 1 Share |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by nzedon50(m): 7:40pm On Feb 02, 2017 |
please leave mavrodians alone...their money, their investment, their gain or loss not your business. 1 Like |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by wizkidblogger(f): 7:41pm On Feb 02, 2017 |
MMM people have moved on with their lives na |
Re: 3 Reasons Why MMM Scheme Fooled Nigerians by onadana: 7:41pm On Feb 02, 2017 |
![]() 5 Likes |
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