Confession From a Facebook friend...

I Will Rob Peter and Pay You, Paul - Everything You Want To Know About This Scam Called MMM
==========================================

In 2001, I was a starry eyed University student, who was desirous of making it big in life and becoming rich.

I was looking for businesses opportunities that would make me a lot of money. I tried different things.

In 2003, November to be precise, I stumbled on internet marketing, through Success Digest magazine.

Over the next few years I would try almost everything published in the paper - affiliate marketing, information marketing, Google Adsense, you name it.

In 2006, one particular money-making scheme came up which attracted hordes of fans. That scheme was/is known as HYIP.

What's a HYIP? It's called a High Yield Investment Programme.

Basically how it works is this:

You put in some money, and then every day or week, or month, depending on the particular HYIP website you registered with, you would earn a percentage, maybe 10%, 15%, 20%, 25%, 50% and even 100% again depending on the HYIP site.

It looked so easy. Just put in money and wait for sometime and bam! You get a percentage.

It looked too good to be true but nothing tried, nothing gained, right? So I gathered my school feeding money and bought eGold (remember them?) worth $50 and "invested".

The following week, my money had "grown" to $100. My HYIP company paid 100% of your money every week. My oh my! I was totally sold!

Now to make more money, I needed to reinvest my money which was now $100 which I promptly did. The following week, I had $200.

Gaddem!

So I went round school preaching this stuff. I even preached it far more than the guy who introduced it to me. I got others to "invest" and with each investment they did, I was scheduled to be paid a 10% "commission bonus" for the referral.

I went looking for more money to borrow to invest because my thinking was, if I had gotten $200 with just $50 in two weeks, imagine how much I would get if I invested $500!

The guy who introduced me to it went to his Mum, borrowed her retirement gratuity and invested another =N=500,000, roughly about $5,000 then!

That week he had earned $13,000 including commissions!

Sheet!

I could see my riches coming. My dream cars, my beach house. I prayed to God morning and evening thanking him for remembering me.

It was like a blessing for everyone, and naturally people poured into this scheme.

One day, I got a call from Nonso, the guy who invited me. He sounded desperate, his voice shaky as he asked me if I had checked my HYIP account. I said no.

"What's the problem, I asked?"

"I can't see the money in my account anymore", he said. "My money is gone."

When he said that, I felt my heart sink, my stomach turned and I suddenly felt sick. If I remember correctly, I think I pissed a little hot urine on myself.

"Where are you?" I asked. He was at a cybercafe town, so I jumped into a bus and went to meet him.

As I was logging into my own acount, my mouth was dry but my account opened!

"Ah! Thank God" I said.

Anyways, Nonso had requested for the HYIP company to send him $7,000 out of his $13,000 which was perfectly okay to do. You were allowed to request a payout anytime you want, between Monday - Friday.

However, after he had placed the request, he logged in a few days later, and his balance was no longer there. It had been wiped out. In fact the page that showed your account was no longer opening.

"It must be something wrong with your account I said. Have you emailed them?" He had emailed, but got no reply. Called the numbers on the website, but they were not going through.

So I placed a payout request of $100, and suddenly, my own account balance was wiped out.

Sweat started forming on my brows. I refresh the page again and again, still the same thing. The account balance page was no longer opening.

We went back to school hoping that things would change. It didn't. It took me several days to come to terms with the fact that my $200 abi $50 was gone forever.

Someone in Iran, Russia, Ukraine, only God knows where had taken my money and it was gone.

Nonso's mother's gratuity was gone. All the monies by those I introduced? Gone! I and Nonso became almost like outcasts in the school. Nobody wanted to deal with us anymore as far as business was concerned. We were blamed for the con.

Why am I telling you this story?

Because lately, I have been receiving offers from people to promote a ponzi scheme called MMM.

They tell me it's a business. That it works. That people have been paid money, blah blah blah.

I want to use this piece to write an article and wash my hands off this matter once and for all.

MMM is a ponzi scheme. Simple and short. I have been in business long enough to smell a scam from a thousands miles away, and this one is a big scam.

It's the return of the HYIP days of 2006.

Ponzi scams reinvent themselves every few years, change their name, wear "new clothes" and come out as the newest best thing since sliced bread.

In 2008, they returned as wonder banks - Nospetco, Gradual Investments, etc. In 2010 it was Clickviral. In 2012 - 2013, it was "Oil and Gas Investment" companies. Today it's MMM.

MMM is a scam. It is not a real business.

A real business has A PRODUCT to SELL, a product that adds value to the person buying it. There's an EXCHANGE of value between both sides - the buyer and the seller.

MMM doesn't have that. Rather it "pays" you a "commission" to refer people. Where does it get the money to pay these commissions? For how long can this be sustained?

What product does MMM sell? Why does an "investor" take his money and "gift" it to some stranger, and then wait for someone else to choose him and also "gift" him too?

If you don't get someone to choose you, then you wait and your money "grows"? Grows? How so? With fertilizer? Where will MMM get the money to pay you this percentage from? Will they steal it?

The most alarming thing about this stuff is this mysterious program is based in Russia. Russia? Are you kidding me? Anyone who knows anything knows that Russia is a country full of murderous mobsters who run illegal gambling operations, money laundering and prostitution rings.

They have since forever created similar programs to mop money up, transfers their illegal funds and pay off people to kill their rivals.

Are you unknowingly helping support a Russia mafia boss and putting innocent people in danger while perpetrating money laundering, illegal gambling and prostitution?

I will not be surprised if the EFCC swoops on the people who run these and guess who they will come after? Yes you the big gun who is pushing this everywhere.

And no, you cannot blame Buhari for your misfortune when it happens.

Frankly, it amazes me that people who should be knowledgeable are pimping this MMM stuff.

It's a scam. And it will collapse like all ponzis do. It's just a matter of time. If you really care about your audience and want their good, not just money that will enter your pocket by doing a seminar, then you will NEVER promote that shit.

It speaks volumes about the mentality of the general masses that they always gravitate towards a business "opportunity" that requires, "no work" and no "effort".

NEWSFLASH: The only way to make money is to actually provide something of value to another person in exchange for cash, not to give someone money and then wait for another person to give you.

What nonsense is that?

This is my last say about this MMM and similar cash gifting programs. I do not want any part of it. I do not wish to receive any further enquiry about it from anybody.

And please, next time before you come into my inbox with some frivolous questions about a program, do me and you a favour, fire up Google and do some research about it FIRST.

Thank you.

P.S. Please permission is granted to share this post if you want to.

Blessings.

Not convinced by this explanations, I'll give them a trial and run after sometime I won't stay until they become saturated .

360ng:
Beware!!!! I won't say more than this. Thank you.

Please say more, they're in my office yesterday, I registered and they've called me this morning to deposit 20k in my account to get help why do you say it is scam? I'm about paying the 20k because I want the 30% badly as par the time we're in now.

IamPatriotic:



Please say more, they're in my office yesterday, I registered and they've called me this morning to deposit 20k in my account to get help why do you say it is scam? I'm about paying the 20k because I want the 30% badly as par the time we're in now.

Dont invest.

Plz give more info. Thnks

IamPatriotic:



Please say more, they're in my office yesterday, I registered and they've called me this morning to deposit 20k in my account to get help why do you say it is scam? I'm about paying the 20k because I want the 30% badly as par the time we're in now.

Modified..

NigAmbassador:
Plz give more info. Thnks

Modified..

360ng:

Modified..

why spent so much energy on what u know nothing on.
I spent 1 year not believing and not searching it out until someone used his money to register for me . and I paid him back after making my withdrawal .
show us someone who has been scammed on mmm.

IamPatriotic:



Please say more, they're in my office yesterday, I registered and they've called me this morning to deposit 20k in my account to get help why do you say it is scam? I'm about paying the 20k because I want the 30% badly as par the time we're in now.

Invest there is risk in everything in life. U won't die if u risk losing 20k. Mmm has nt scammed any Nigerian yet, anyone calling them scam shld show u a participant scammed. Never d less it's a Ponzi scheme BC they dnt ve product or service and their only source of income is fresher members d4 once they cant get new members it will crash but b4 then u can make some quick cash. D program might last more than a year b4 becoming saturated n they r abt 6months in naija nw

.

IamPatriotic:
Not convinced by this explanations, I'll give them a trial and run after sometime I won't stay until they become saturated .

MMM Nigeria is no more. Try to log into your account and see!

seighapaul:
[b]They've been lot of controversies and incredible success stories about the brand new and raging MMM scheme. I just want to give my own unbiased review to all these news flying about.

About the founder and the passed alleged scam. I think what really happened was that the first generation of MMM was a scheme designed and operated on PONZI model, where a central account was operated and managed. A ponzi scheme will certainly always crash in either of these two ways; (1) the organisers disappears with all the monies, or (2) the system grows exponentially so large, it collapse in this own weight. I think the latter (second reason) was what happened to the founder of MMM last time.

Majority of Nigerians just engage in lip service, blindly following their leaders, without thinking and researching information. Critics will shout MMM is scam by giving biased evidence of previous schemes that have crashed, but they never critically researched why these schemes crashed. Above, I gave u two major reasons. Now ask yourself this important question; "HAS ANYONE IN NIGERIAN BEEN SCAMMED BY MMM?" I can't speak for anyone, but am yet to hear about a verified scam MMM story in Nigeria.

THE FUTURE OF MMM: Now remember I mentioned MMM was borne from an inherited ponzi scheme that crashed on its own weight years ago. Over the years, I think MMM has continually restructure and improve on service delivery. I believe the selling point of MMM today in Nigeria is the "No central account" policy of the scheme. A central account policy is what makes all MLM (Multi Level Marketing) and ponzi schemes susceptible to fraud or imminent system collapse.

MMM will eventually collapse either in the near or distance future, but it will be unfair for someone to tagged the current trending scheme a SCAM when no one has claimed to be unfairly treated or scammed. Always abide by the safe online business policy of investing what you can afford to loose and also, "enter early and leave early".[/b]

Brother, MMM login is deactivated.I smell scam!

imagrg:
MMM Nigeria is no more. Try to log into your account and see!

Oga I just logged in and in gh . Its still ok.

MMM - is a mutual network, where people provide money as help directly to each other through automatic Private Offices via internet with a growing help index Mavro. The Power of Giving lets you receive 23 times more than you gave to others in a year!!!

"When you ""buy"" Mavro - you provide help, when you ""sell"" - you get help. For example If you provide NGN100,000 today then after 1 month you can receive help in the amount of NGN130,000 ! Plus you can also earn a refferal and leader bonuses for 10% or the Provided help of your referral for your first downline and so on! You can watch the video
https://www.youtube.com/watch?v=smwHZO2zdY8
For example:
1) When you have $50 USD free money - you can provide help to others. And after that you will receive 20 usd as bonus to your Private Office of MMM
After a month you can request help from others and receive all $50 USD (by current 30% program) plus that $20 usd bonus = $85 USD
so your profit will be $35 USD.
2) If you invite a friend to MMM - you will receive 10% bonus from his help provided to the system
for example he provided NGN100,000 you will receive NGN10,000"

Read about a fellow Nairalander's experience in MMM from the thread below

https://www.nairaland.com/3261088/nairalanders-experience-mmm#3261088.3

.......

I planning of joining today and u are saying it scam...i heard about MMM as far back as early June and we are now in August. I refuse to join because i was saying the same thing ur saying and people who told me about it are cashing out there money since then till now.. so why don't I give it a trial...

[.

I wouldnt know if it is,Im not sure but id make a lil input as a Certified Business Developer.Every company should come with its own product and service which are unique and should bring value to its clients.MMM thus provide value or satisfaction for its clients which is financial/economic in nature but what will be the end thereof,I cant tell for now since it cant last forever.For the best program to do check my topic The best most profitable program u can do or drop your mails,id get bak to u with a detailed report,thanks.

360ng:
Confession From a Facebook friend...

I Will Rob Peter and Pay You, Paul - Everything You Want To Know About This Scam Called MMM
==========================================

In 2001, I was a starry eyed University student, who was desirous of making it big in life and becoming rich.

I was looking for businesses opportunities that would make me a lot of money. I tried different things.

In 2003, November to be precise, I stumbled on internet marketing, through Success Digest magazine.

Over the next few years I would try almost everything published in the paper - affiliate marketing, information marketing, Google Adsense, you name it.

In 2006, one particular money-making scheme came up which attracted hordes of fans. That scheme was/is known as HYIP.

What's a HYIP? It's called a High Yield Investment Programme.

Basically how it works is this:

You put in some money, and then every day or week, or month, depending on the particular HYIP website you registered with, you would earn a percentage, maybe 10%, 15%, 20%, 25%, 50% and even 100% again depending on the HYIP site.

It looked so easy. Just put in money and wait for sometime and bam! You get a percentage.

It looked too good to be true but nothing tried, nothing gained, right? So I gathered my school feeding money and bought eGold (remember them?) worth $50 and "invested".

The following week, my money had "grown" to $100. My HYIP company paid 100% of your money every week. My oh my! I was totally sold!

Now to make more money, I needed to reinvest my money which was now $100 which I promptly did. The following week, I had $200.

Gaddem!

So I went round school preaching this stuff. I even preached it far more than the guy who introduced it to me. I got others to "invest" and with each investment they did, I was scheduled to be paid a 10% "commission bonus" for the referral.

I went looking for more money to borrow to invest because my thinking was, if I had gotten $200 with just $50 in two weeks, imagine how much I would get if I invested $500!

The guy who introduced me to it went to his Mum, borrowed her retirement gratuity and invested another =N=500,000, roughly about $5,000 then!

That week he had earned $13,000 including commissions!

Sheet!

I could see my riches coming. My dream cars, my beach house. I prayed to God morning and evening thanking him for remembering me.

It was like a blessing for everyone, and naturally people poured into this scheme.

One day, I got a call from Nonso, the guy who invited me. He sounded desperate, his voice shaky as he asked me if I had checked my HYIP account. I said no.

"What's the problem, I asked?"

"I can't see the money in my account anymore", he said. "My money is gone."

When he said that, I felt my heart sink, my stomach turned and I suddenly felt sick. If I remember correctly, I think I pissed a little hot urine on myself.

"Where are you?" I asked. He was at a cybercafe town, so I jumped into a bus and went to meet him.

As I was logging into my own acount, my mouth was dry but my account opened!

"Ah! Thank God" I said.

Anyways, Nonso had requested for the HYIP company to send him $7,000 out of his $13,000 which was perfectly okay to do. You were allowed to request a payout anytime you want, between Monday - Friday.

However, after he had placed the request, he logged in a few days later, and his balance was no longer there. It had been wiped out. In fact the page that showed your account was no longer opening.

"It must be something wrong with your account I said. Have you emailed them?" He had emailed, but got no reply. Called the numbers on the website, but they were not going through.

So I placed a payout request of $100, and suddenly, my own account balance was wiped out.

Sweat started forming on my brows. I refresh the page again and again, still the same thing. The account balance page was no longer opening.

We went back to school hoping that things would change. It didn't. It took me several days to come to terms with the fact that my $200 abi $50 was gone forever.

Someone in Iran, Russia, Ukraine, only God knows where had taken my money and it was gone.

Nonso's mother's gratuity was gone. All the monies by those I introduced? Gone! I and Nonso became almost like outcasts in the school. Nobody wanted to deal with us anymore as far as business was concerned. We were blamed for the con.

Why am I telling you this story?

Because lately, I have been receiving offers from people to promote a ponzi scheme called MMM.

They tell me it's a business. That it works. That people have been paid money, blah blah blah.

I want to use this piece to write an article and wash my hands off this matter once and for all.

MMM is a ponzi scheme. Simple and short. I have been in business long enough to smell a scam from a thousands miles away, and this one is a big scam.

It's the return of the HYIP days of 2006.

Ponzi scams reinvent themselves every few years, change their name, wear "new clothes" and come out as the newest best thing since sliced bread.

In 2008, they returned as wonder banks - Nospetco, Gradual Investments, etc. In 2010 it was Clickviral. In 2012 - 2013, it was "Oil and Gas Investment" companies. Today it's MMM.

MMM is a scam. It is not a real business.

A real business has A PRODUCT to SELL, a product that adds value to the person buying it. There's an EXCHANGE of value between both sides - the buyer and the seller.

MMM doesn't have that. Rather it "pays" you a "commission" to refer people. Where does it get the money to pay these commissions? For how long can this be sustained?

What product does MMM sell? Why does an "investor" take his money and "gift" it to some stranger, and then wait for someone else to choose him and also "gift" him too?

If you don't get someone to choose you, then you wait and your money "grows"? Grows? How so? With fertilizer? Where will MMM get the money to pay you this percentage from? Will they steal it?

The most alarming thing about this stuff is this mysterious program is based in Russia. Russia? Are you kidding me? Anyone who knows anything knows that Russia is a country full of murderous mobsters who run illegal gambling operations, money laundering and prostitution rings.

They have since forever created similar programs to mop money up, transfers their illegal funds and pay off people to kill their rivals.

Are you unknowingly helping support a Russia mafia boss and putting innocent people in danger while perpetrating money laundering, illegal gambling and prostitution?

I will not be surprised if the EFCC swoops on the people who run these and guess who they will come after? Yes you the big gun who is pushing this everywhere.

And no, you cannot blame Buhari for your misfortune when it happens.

Frankly, it amazes me that people who should be knowledgeable are pimping this MMM stuff.

It's a scam. And it will collapse like all ponzis do. It's just a matter of time. If you really care about your audience and want their good, not just money that will enter your pocket by doing a seminar, then you will NEVER promote that shit.

It speaks volumes about the mentality of the general masses that they always gravitate towards a business "opportunity" that requires, "no work" and no "effort".

NEWSFLASH: The only way to make money is to actually provide something of value to another person in exchange for cash, not to give someone money and then wait for another person to give you.

What nonsense is that?

This is my last say about this MMM and similar cash gifting programs. I do not want any part of it. I do not wish to receive any further enquiry about it from anybody.

And please, next time before you come into my inbox with some frivolous questions about a program, do me and you a favour, fire up Google and do some research about it FIRST.

Thank you.

P.S. Please permission is granted to share this post if you want to.

Blessings.

t get someone to choose you, then you wait and your money

Some of my friends have been begging me to join this mmm but something in me keeps kicking against it especially for d fact that I was once a victim of the wonder banks back then. ur analysis of mmm is something I really applauding u for. will like to ask u some questions, could u help me with ur email? thanks

MMM aint for the faint hearted, nothing definately lasts forever, i have also been a victim of previous Ponzi Schemes but that did not deter me from being a participant of MMM, Leave story abeg MMM PAYS and i have definately been changing my world. Shikena

My analogy is simple, MMM thrives on the infux of participants and how active they are. The more the people, the more the Ph, the more the Gh, Heed the warning, don't trade with what you can't part with, don't go and sell your father's land or use your mother's osusu to partake in MMM, Wisdom is applicable, use your brains not just your head alone, Shikena