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Nairaland Forum / Nairaland / General / Investment / SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud (89156 Views)
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Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by edisoncash: 7:47am On Sep 01, 2016 |
Ohhhhhhhhh God,this is the only thing that is working in this country and now they are planning to destroy it,MMM is not an investment I wonder what concern SEC in this, they platform was designed to help people by mutual leading, na wa oooo for Nigeria ohhhh 2 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by RexEmmyGee: 7:47am On Sep 01, 2016 |
funmi4love: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.. 3 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by moski5(m): 7:47am On Sep 01, 2016 |
What does SEC kno n since when did they ever care for Nigerians all the noise from SEC n people screaming scam is because of the BANKS they want your money idle and they know if you keep moving it to MMM n others know that its paying off they will do same. nb for those of you that dont kno even bankers who say its scam r providing help nonetheless MMM says its a risky venture I dey 4 my payout jor MMM here I kwom 2 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by tempest01(m): 7:48am On Sep 01, 2016 |
Papito: They are trying to resolve that mmm is scam or not, you you are posting another scam. 6 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by OBAGADAFFI: 7:48am On Sep 01, 2016 |
Some people are not smart. When you send money as help to someone, what if you didn't get help from anyone. With this news people Will stop paying people, due scepticism. 3 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by nonjebose(m): 7:49am On Sep 01, 2016 |
helovesme:They come under different names. Years back, I lost some money in such similar scheme. They prey on our sentiments. They early members are the only ones that spared 2 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by unmask: 7:49am On Sep 01, 2016 |
Acidosis:banks don't operate ponzi schemes.....if there is a run on a bank, the only reason it will collapse is because of the loans it has given out, which it does for profit. On the other hand mmm don't make profit from anything.....this is simple logic let's say 3 guys invested 1m each which gives a total of 3m....you pay the first 1.3m after a month, then the second another 1.3m after another month.....what you have left is 400k so effectively the 3rd person lost 600k So in your happiness that it helps people, also know that the help you are getting now is going to cause untold sorrow for others. And with this publication by the SEC, tears would soon flow Besides you know of the interest you are getting in banks beforehand and of course you read the terms and conditions 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by 9jatatafo(m): 7:50am On Sep 01, 2016 |
OYO loading...... 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by iykedonly1(m): 7:50am On Sep 01, 2016 |
My country pple from 9ija MMM is real....even if it is a scam at least it had change sum pple life,as am talking nw am a small young rich guy....Nigeria economy had fail both young and old here comes MMM to brake the bridge btw rich and poor,don't be surprise there are pple working and had not been paid for so long now but with MMM earning they are managing their life without stress. ##SEC well na una job una dey do but me am smelling jealous beside business is all abt risk.....if u gain u gain if u loss u loss.#life is all about a two age sword. 5 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Fourwinds: 7:52am On Sep 01, 2016 |
mckoolcharming:u be fraud.... I don't believe in all these nonsenses fraudstars everywhere 2 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by brain247(m): 7:53am On Sep 01, 2016 |
The reality is this,as long as people keep pledging in mmm,others will keep getting paid,and as you are getting paid,you are also pledging again. I see no scam in this,mmm don't collect money from anybody,it only register you as a member. We have witnessed some banks liquidated,and carted away with customer's money. 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by floxy1989: 7:56am On Sep 01, 2016 |
It's clear that you are one hell of a lazy ass fool. Go back to school and mop your brains, am sure you are rich on 30,000naira iykedonly1: 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Toks2008(m): 7:56am On Sep 01, 2016 |
RexEmmyGee:Some times I wonder why people are so timid when it comes to taking advantage of opportunities. Though I'm yet to know how this MMM works even after going thru all you wrote but I remember promoting a clear money making system on nairaland which Seun and the mods kept bringing down and I just have to let go and I stopped promoting it here. You donate 60€ and you get 3friends to donate 60€ each and you get back your 60€ and also continue to receive donations of over 25000€ and intact the system is over 20years in existence and still growing strong The problem with many Nigerians is that we have soaked our brains with the mindset that you must sweat it out to make money and until we change our mindset, we will continue to lament about bad economy while allowing good opportunity to pass us due to ignorance. 3 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by philipobiz: 7:57am On Sep 01, 2016 |
Joel3:A greedy person does not think straight, just like a drunkard 2 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by RexEmmyGee: 7:58am On Sep 01, 2016 |
floxy1989:lol |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 7:58am On Sep 01, 2016 |
ochuski:Not just that, its a fraud. A Ponzi/pyramid scheme. At one point its bound to collapse.pyramid schemes are illegal in almost all countries. The people that will lose will be the investors at the bottom of the pyramid, when there are no more recruits 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by frankwyte: 7:58am On Sep 01, 2016 |
I have to laugh out loud! this is my reasons; 1) the banks feels threatened by this MMM of a thing, if this continue no good depositor will go to bank again. 2) their return of investment to customers is paltry and very scrupulous even for savings upto N300,000.00 in a month you have no interest on money What they need to do is seek ways of gaining customers loyalty and returns for investment. i tell you what, it will not be good for me to name names; but the banks are now into retail marketing here in Port Harcourt..... The bus stops and garages specifically at Rumukurushi and Eliozu.... cant help but laugh out load!!! MMM you are the bomb. 4 Likes 1 Share |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 7:59am On Sep 01, 2016 |
My question still remain like this: what happened is the last person that got helped with 30% increment did not come back or increase his/her re investment or refuse to help the next person or refuse to bring in new person? Please you mmm agents must answer this ooo. Where will the new 30% come from for the new guys looking for help? What will happen after 30days that the person requesting for help couldn't get it after helping someone, and the last person helped refuse to pay? Answer us ooo with meaningful reply not new members will join and bring money blala blala since you claimed there is no central account to bail you out or get deposited or withdrawal from. I need answer now now.... All I have been seen are referral links upaandan. So I need clarifications. Even if it works in some other countries, we know how Nigerians are active in scamming. So waiting for answer Even ajo, or esusu, people dey run away with people money. One of our secretaries told me about the mmm. She put 20k and she has received 26k or so within 40days. Now they are compelling her to put 90k to get may be 120k, so she want make I help raise the money so we can share the profits. I laugh at her. 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Adex097: 7:59am On Sep 01, 2016 |
JeffreyJamez:Being dull is an understatement. Never knew Nigerians could be this gullible . 2 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by PaulIdu: 7:59am On Sep 01, 2016 |
2sexynet: He is part of the MMM syndicate based in South Africa ..the have studied and replicated a poor version of Sergey Mavrodi scam to dish our gullible Nigerians online ..they are seasoned conmen 1 Like 1 Share |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Holysholay: 8:00am On Sep 01, 2016 |
The scheme just crashed in South Africa, next target is Nigerians 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by charlezok(m): 8:00am On Sep 01, 2016 |
. 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by PaulIdu: 8:01am On Sep 01, 2016 |
JeffreyJamez: Nice clean Hiest ,I wish I was part of them. .from my calculation when the a through with scam they would have made over 20 million dollars from gullible Nigerians |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 8:02am On Sep 01, 2016 |
mckoolcharming:ignorance is bliss. you are lost. |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by feelme3(m): 8:03am On Sep 01, 2016 |
mckoolcharming: This guy is either a recruited agent of Sergei Marvrodi or he's been brainwashed just like the previous victims. The peculiar strategy is to draw the support of the "lazy minds" by blaming the government for not doing anything for its citizens. Problem with most Nigerians is that we're too lazy to exercise our brains. Now that the warning has been giving, the wise thing is for you to search the internet. Knowledge is power they say. Here's a link to what MMM means and how it started https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme_company) 4 Likes 2 Shares |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Obumorji(m): 8:03am On Sep 01, 2016 |
http:///?i=orjiobumneme19@gmail.com. Good day! Not everyone will believe this, not everyone will partake in this not everyone will make it in life only the strong in heart and risk takers! Was told about this business last year, because of fear I rejected the offer but as at April this year I followed up and trust me you won't believe how much I have made thus far!!! I'm not trying to encourage everybody but few. This government is wicked they want MMM to register so dey will be collecting there own share of the money!!! MMM is for Real!!! 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Nobody: 8:04am On Sep 01, 2016 |
For the people defending MMM on here, why don't you go set up a branch in say, the United States and see if you won't be locked up Its only in unexposed countries like Nigeria and other third world countries that these business 'models' can survive. 4 Likes |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by PaulIdu: 8:04am On Sep 01, 2016 |
floxy1989: I wonder who takes financial adviser from a man that says "two age sword" 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by jakiedudu(m): 8:04am On Sep 01, 2016 |
Nosyke:I understand your fears and concern, and I appreciate it. but I think I grabs the idea of mmm. MMM is somewhat similar to some community groups in some communities in the middle belt especially Plateau State. These groups are called ''Adashe''. It's a sort of ''Donation Agency'' where members contribute certain amount of money weekly, monthly (as the case may be) to each other. These groups are common among women in plateau state. For example, a group of ten (10) women get together to help one another. They contribute say N5,000 monthly to each other. When it gets to your turn, all group members pay you N5,000. Thats N50,000, enough to start a small scale business like trading, making and selling of snacks etc. This is what some women in these communities do to raise money to start a small scale business. These groups which are very common in rural areas are not investment schemes or business ventures. Just a group of women joining heads together to help each other out. With what I have learn so far from this Adashe group, MMM appears somewhat similar to it. |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by Obumorji(m): 8:04am On Sep 01, 2016 |
feelme3: MMM is for Real Mr. 1 Like |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by ochuski(m): 8:06am On Sep 01, 2016 |
emedy:lols... Sorry bro.. One love. |
Re: SEC Warns Nigerians Of The Dangers Of MMM, Calls It Fraud by neocortex: 8:06am On Sep 01, 2016 |
mckoolcharming: MMM agent spotted! 2 Likes |
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