The thing they even call a video tutorial is just a picture slide with a robot talking about how they're in 118 countries...... No video testimonial?.... No video from the CEO?..... No Address of their office?

G-boys don upgrade finally!!!!

mckoolcharming:


MMM IS NOT a Ponzi Scheme, cos in a Ponzi scheme, old members don't put back their money.

IN MMM, BOTH OLD AND NEW MEMBERS CONTINUOUSLY PUT IN MONEY BEFORE THEY CAN BE HELPED SUBSEQUENTLY.

I was actually waiting to see this. Not surprised!
SEC will not stop a bank from
1. Taking N65 from my account after ATM use
2. Illicit withdrawal from my accounts
3. killing depositors with high interest rate

BUT
will tell Nigerians their concerns when Nigerians are happy with a system.

Am happy, this shows that MMM is truly working. I want to make it clear here that in my view our conventional banking system is also a Ponzi scheme... Oh yes. Why Not? They take from our large pool of deposits to grant loans and in the end give us peanuts as interest but when we are the ones paying interest we pay through our nose.

If banks are not operating a ponzi scheme, what happens when all depositors assemble to withdraw our cash.

How can I join jareeee.... Leav trash for lawma

All of you(SEC inclusive) saying MMM is scam pls oOoo....is it ur SCAM Is it ur PONZI SCHEME....is it ur MONEY...face front and allow us enjoy our MMM abegggggg.....as for me,my household and our spare money we shall be part of MMM until thy kingdom come!!!
...funny enough SEC jst advertised MMM....yeah!

has anyone ever heard of Telexfree? there operation is same. I invested 130k on telexfree n weeks later dey folded up n til now am on my own

[quote

To those that invest on MMM. My advice is that, you should obtain your capital and you can invest with the profit..... That is all. At long run there would be no lost but profit.

Fraud!!!

Pete1:
Call it Fraud, we still get paid by MMM.

MMM operates in 118 countries, just because they refuse to register with the Nigerian Government then it is now a fraud. Mumu SEC dey find egunje.

Join the moving train to financial freedom and let us take our destinies in our own hands and leave this failed government that has nothing to offer us.

are u a guider?

ochuski:

Read d post.. Dey dint outrightly say its fraud n dey dont pay people. . What dey said is dat d activities of MMM are conspicuous because dey are not dully registered and should incase your money get missing in d future, u are to blame.

Conspicuous ke? Should incase bawo naw?

mckoolcharming:



So far so good what benefit has the fellow Nigerians gotten from the government?? What MMM has done to the life of Nigerians, The government haven't done that for years..... It is our Money, MMM clearly stated their Risks, we accept.. We weren't forced to join. Leave it for us its not Scam.... Infact our leaders are the Scammers cause we vote for them yet we the masses suffer while they keep embezzling our funds...

Gbam!

jakiedudu:
How can I join

After reading everything against this scheme and it's un-sustainability, you still want to join?

I pray you don't open a thread soon lamenting.

niggi4life:
The question is simple, MMM gives you 30% after a month? Even no bank can give you that high ROI(return on Investment) Now how do they make their own profit? i am just curious

exactly that's what I want to know "how do they make their own profit and where is the 30% been generated"

Joel3:
this is how it works..

if you help someone. that amount let say N50k. this 50k will enters your mavro account. and it grows at 30% a month. at the end of 30days it will be N70k. so if you request for help. someone will help you with the N70 cash out. the person that help you with 70k another person will help that one at 30days. then u too can help another again and again just like that.

Pls try cash out ur capital. Invest the profit you have

MmM is not a scam ,why isn't that this country doesn't like progress ,useless county

M.M.M stands for Money Making Machine.. Lol

See traffic.....money matter

It's clear that MMM people have got agents on nairaland.

How does MMM generate 30% to pay participants?

This is a question that can never stop being asked. I have tried explaining this severally BUT its like "magic" to so many.

I understand everyone's fears that's why I will break it all down further mathematically below.

Let's say,

100 donations came in from 100 participants @2,000naira each = 200,000naira

In order for the 100 donations to be paid their 30%, that means 60,000naira extra donations must come in.

The BIG QUESTION is then how?

Here it is:-
The 60,000naira wld come in through:-

(1.) Regular GH and re-PH from the 100 donations done by the participants.

Here is d maths:-
50 participants GH all their earnings + Principal donation = 130,000naira.

Total left over PH balance = 70,000naira

The remaining 50 then needs 60,000naira to get their own 130,000naira paid too.

The first 50 paid 130,000naira total then re-PH back their 100,000naira (maybe keeping back their total profit of 30,000naira)

That then adds up to the 70,000naira available to pay the 50 participants left (130,000naira).

++ So, the cycle continues on and on for as long as the principle of Regular GH and re-PH remains!!!

+++

This is just d same Principle Banks work with. That is why it is possible for just a deposit to serve 10 - 20 withdrawals.

And they pay you little interests for using your money to keep the redistribution process going!!

++NOTE+++
Don't come and do "Hit and Run" - The one u GH'ed and ran away with will soon finish and u will have to start all over again when coming back!! Why not just relax and earn for a longer period.

So whether new donations comes in OR not, the process of providing and getting help can continue for as long as all participants knows the whole process depends on their actions or inactions!!!

Secondly

(2.) New donations coming in through participants referring others to the community. This keeps the system consistently growing!! Every business (offline/online) needs new sales to survive..

Yes - MMM provides NO Guarantee and we all donate ONLY our "Spare Money"

BUT sincerely it can go on for as long as we all want since we all make the Community what it is!!

Always remember that in MMM there is

++ No Company Account!! Mavrodi can't wake up one day and ghost off with the money since we are not paying to his account.

++ You bank account/bitcoin wallet is MMM's account.

MMM's strength is the IDEOLOGY above that I broke down mathematically!!!

We are the Community!!

Together We Change The World..

aminho:
oga take it or leave it i lost 500k naira on mmm its a fraud

when sir?we need to enlighten more people

I always live by this quote "if it seems too good to be true,then it definitely is.

mckoolcharming:



If only they will admit that banks are ponzi scheme, then I will agree that MMM is a ponzi scheme.

1. MMM is not an Investment program. We are helping ourselves to be financially free. The government has failed us and we have decided to help ourselves

2. MMM does not collect our money. We pay directly to other people's account.

3. MMM is not a company, as such, there is no point registering with SEC.

4. Is there any law in this country forbidding us to help our brother? If there is, then you can shut us down

5. If the government begins to gives us 24hours electricity, pay a minimum wage of NGN200,000 per month, employs everyone that is unemployed, then we can consider leaving MMM

Now the question is this, where do the 30% profit comes from if it's not used for business?

There's no free money. Don't be surprised that those guys(founders) have Naira bank account or agents in Nigeria who have many accounts on the platform, when they have accumulated a lot of money they will shut down.

Even though I suspect you as one of their secret agent

"Bulls make money, bears make money, pigs get slaughtered."

mckoolcharming:
as I dey post I just received my pay for
MMM...... mmm is for real I swear

It's a Ponzi scheme. You know this is a scam, and you still jumped in it. Later you will blame Buhari or GEJ.

Honestly, I'm amazed at the level at which some people are reasoning here.
We shall all see at the end of the day whether it's a scam or not.....

Joel3:
this is how it works..

if you help someone. that amount let say N50k. this 50k will enters your mavro account. and it grows at 30% a month. at the end of 30days it will be N70k. so if you request for help. someone will help you with the N70 cash out. the person that help you with 70k another person will help that one at 30days. then u too can help another again and again just like that.

What's the site? Lemme research and tell you how this will likely end in scamming

mckoolcharming:
as I dey post I just received my pay for
MMM...... mmm is for real I swear

I took time to study the pay plan and up till now I still see it crashing soon cos the pay plan is shrewd. The funniest part is that the pay plan in some MMM versions of other countries seem very dependable but this one of 30% monthly is ineffective and will eventually hit the rocks.

I'm an e-commerce consultant and I was among those who first brought mlm to Nigeria in 1998 so believe me on this.

No Master will want to let his slave go free that's why you see this kind of media propaganda. I know better now

This thread has been taking over by MMM coded agents.

with this its only a matter of short time before the system is banned in nigeria ..mmm is designd for greedy lazy people ..the amazing part is how they go around posing as "enterprenuers" chanting " God bless mavrodi" " God bless mmm" " long live mmm" etc gulible nigerians .......

AdeolaOmoOba:


Isn't that what banks are doing? Is there any greater business scam in Nigeria other than the cost of running a nation (as a business venture) and banks?

That is not what banks are doing from regulation to substance of biz. Ponzi is a scheme that simply takes money from new comers to pay existing customers while the owners too take Their share. It has no business or investment just collect and share. When new comers drop or should old comers suddenly want their exit in numbers, the whole scheme will collapse! Bank collect deposits and give out loans to businesses in a regulated manner.

I really laugh at your ignorance, the stage is been set to scam you people,just that greedy people would be too blind to see it. One day the same account number will be sent to all of you fools and you will deposit all your monies there.
Imagine 1 million people paying in 100k into one or two accounts. Remember a bank can't reverse a confirmed deposit to an account without the approval of the owner of such account.
Bam!
They are made and will leave Nigeria.
SEC has warned you,only greedy people get scammed!

RexEmmyGee:
*WHY ARE SOME PEOPLE ENEMIES OF PROGRESS?*

MMM operates just like other financial institutions but the difference is rather than giving you a poor 1-3% interest on your money, MMM gives you a HUGE 30% reward on your money donated.
So is that a scam?
Is "esusu" a scam?
Is the banking system a scam?
Are insurance companies a scam?
Are cooperatives a scam?
Is MMM really a scam?
Is it a scam to have a system that brings a community of people together that financially help one another, willfully without being forced?
Is it a scam to have a system that creates a platform for individuals to combat poverty at its core?
We always say fighting poverty is a collective effort; Now instead of people stealing, cheating or robbing they join their hands in good heart to provide financial help to one another, is that scamming really?
Is it a scam to see families that couldn't afford to bring food on the table now able because of the financial help they have received from other members?
Is it a scam to see students who couldn't afford to have pocket money and monthly allowances in tertiary institutions now able to afford because of MMM?
Is it a scam to see entrepreneurs raising the capital money needed to grow their businesses through MMM after countless rejections from other people and financial institutions due to high interest rates and not-enough collateral so they in return contribute to the economic growth of this country and
create employment to thousands?
I will tell you what a scam is...
A real SCAM is to hinder people of their financial freedom yet encourage them to keep borrowing from your system so that they work for you and pay the rest of their lives if they live that long...
A real SCAM is to have someone work 40 years of his/her life and after retirement that person must take the fruit of his/her years of hard labour and pay the debts and bonds that refused to end because of ever increasing interest rates.
A real SCAM is when your bank sends you an sms alert to inform you that you have earned N0.50 on ur mone.

*#SEC GO TO HELL*

Nigerians would never learn

Anyway, these are only clear signs of recession.

Wicked & ludicrous schemes are in place to syphon greedy lots of their hard earned money.

Just last month, five people invited me to be a part of this madness. I outrightly told them NO.