Stats: 3,191,318 members, 7,943,786 topics. Date: Monday, 09 September 2024 at 01:44 AM |
Nairaland Forum / Nairaland / General / Investment / SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud (88882 Views)
Avoid Ponzi Schemes! SEC Warns Nigerians / MMM Participants Celebrate The Return Of MMM Nigeria (Videos) / CBN Warns Nigerians Against “MMM”, Calls It Wonder Bank (2) (3) (4)
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (19) (Reply) (Go Down)
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by JeffreyJamez(m): 7:31am On Sep 01, 2016 |
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!!!! ![]() 9 Likes 1 Share |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by princemillla(m): 7:31am On Sep 01, 2016 |
mckoolcharming: How can I join jareeee.... Leav trash for lawma 2 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Skanas(m): 7:31am On Sep 01, 2016 |
All of you(SEC inclusive) saying MMM is scam pls oOoo....is it ur SCAM ![]() ![]() ![]() ...funny enough SEC jst advertised MMM....yeah! 1 Like 1 Share |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by bilulu(m): 7:32am On Sep 01, 2016 |
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 5 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Pete1: 7:32am On Sep 01, 2016 |
[quote |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by teeking: 7:33am On Sep 01, 2016 |
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. 11 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by WoodcrestMayor(m): 7:33am On Sep 01, 2016 |
Fraud!!! |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Galacious1: 7:33am On Sep 01, 2016 |
Pete1:are u a guider? |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by solid3(m): 7:35am On Sep 01, 2016 |
ochuski: Conspicuous ke? Should incase bawo naw? 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by HomeOfMe(f): 7:36am On Sep 01, 2016 |
mckoolcharming:Gbam! |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nosyke(m): 7:36am On Sep 01, 2016 |
jakiedudu: 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. 5 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by funmi4love(f): 7:37am On Sep 01, 2016 |
niggi4life:exactly that's what I want to know "how do they make their own profit and where is the 30% been generated" 2 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by teeking: 7:38am On Sep 01, 2016 |
Joel3: Pls try cash out ur capital. Invest the profit you have 2 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by friendl: 7:38am On Sep 01, 2016 |
MmM is not a scam ,why isn't that this country doesn't like progress ,useless county 4 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by fortunateice(m): 7:38am On Sep 01, 2016 |
M.M.M stands for Money Making Machine.. Lol 4 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by thorpido(m): 7:39am On Sep 01, 2016 |
See traffic.....money matter 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by ddippset(m): 7:40am On Sep 01, 2016 |
It's clear that MMM people have got agents on nairaland. 5 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by RexEmmyGee: 7:40am On Sep 01, 2016 |
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.. 4 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Alhajipablo(m): 7:40am On Sep 01, 2016 |
aminho: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. 3 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Youngzedd(m): 7:41am On Sep 01, 2016 |
mckoolcharming: 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." 6 Likes 2 Shares |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by texazzpete(m): 7:42am On Sep 01, 2016 |
mckoolcharming: It's a Ponzi scheme. You know this is a scam, and you still jumped in it. Later you will blame Buhari or GEJ. 6 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by dayleke: 7:42am On Sep 01, 2016 |
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..... 4 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by tempest01(m): 7:42am On Sep 01, 2016 |
Joel3: What's the site? Lemme research and tell you how this will likely end in scamming 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Toks2008(m): 7:44am On Sep 01, 2016 |
mckoolcharming: 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. 8 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by goldenimp(m): 7:45am On Sep 01, 2016 |
No Master will want to let his slave go free that's why you see this kind of media propaganda. I know better now 4 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Youngzedd(m): 7:45am On Sep 01, 2016 |
This thread has been taking over by MMM coded agents. 4 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 7:45am On Sep 01, 2016 |
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 ....... 4 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by tuniski: 7:46am On Sep 01, 2016 |
AdeolaOmoOba: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. 3 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by floxy1989: 7:46am On Sep 01, 2016 |
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: 9 Likes 1 Share |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by loveourlagos(f): 7:47am On Sep 01, 2016 |
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. 2 Likes |
(1) (2) (3) (4) (5) (6) (7) (8) (9) (10) ... (19) (Reply)
EFCC Responds To User Who Called Them Out Over MMM Crash / Investdata Market Updates For Investors And Traders Forum / Which Bank Is The Best To Bank With In Nigeria?
(Go Up)
Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health religion celebs tv-movies music-radio literature webmasters programming techmarket Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10) Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 56 |