They only mad they are not paying tax, hence wants to give negative reports so the we don't patronize them
Not happening, I'm only 3 days from getting extra 30k, then proceed to my 7th transaction. Screw the sec or whatever the sh!t they call themselves

who are they that will pay, i am the one to pay who ever is due to get payment and when am due to get mine, a participant pays me. SEC should just allow us to do what will benefit us, shebi they said its on our own risk, let them leave us alone pls

PaulIdu:


Its clearly a Ponzi scheme. .they will pay early subscribers like you so you create publicity like you have just done and attract more people before the Ponzi paper pyramid collapses .

monsieurp:
MMM is not scam as such but a very dangerous business concept. I have offered help of 500k twice and I have received help of 657k help the first time and 680k the second time( that is because I referred other people). Making a total profit of 337k in 9 weeks from an investment of 500k.

I have since removed the 300k from the system offering help of only 37k.

I gave the above experience to let those for MMM to understand that I not against the scheme BUT I doubt it would last very long not because the founder is out to scam people but because new people in the system would get too greedy and offer help beyond their capacity ( borrowing to offer help) while the old guys in the system like myself would offer less help as such hang the system

The 30% is sourced from other people money. if supply is less than demand the whole system collapses.

The scheme may not crash this year or next year but it would definitely crash just like the stock market. Your best bet it to get in early and get out early or not to get in at all.

As for me I have made enough and I won't risk any new investment in this venture except what I already have invested in it.

U sir are among the lucky few ..those that would be scammed have not even joined yet..the SEC has just provided the free advertising they need to move this scamming machine to the next level like the scampers planned ..,many will now rush on to cash out quick like you and the pyramid will crumble

Alirauf:
dats y i said its a gambl, might or might not go off with him losing

My brother, have seen Banks liquidated and shares crashed, so are those not gamble? The difference is, we were been lied to. But MMM stated its risk upfront.

PaulIdu:


U sir are among the lucky few ..those that would be scammed have not even joined yet

Lolzz....well no RISK no REWARD...for me MMM all the way

Two days ago my friend was paid 75k from the 50k he invested. For now mmm pays.

MicroBox:

Please do actually lost 500k to MMM? I m just curious..

i swear on the grave of my grand parents

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

4. 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

Stop deceiving people who would come here to cry when the perpetrators of this robbing Peter to pay Paul scam flees with their money. Old Mugus can collect their profit from new mugus and run, while new mugus are advised not to join MMM Ponzi scheme

Endy4all:
Two days ago my friend was paid 75k from the 50k he invested. For now mmm pays.

Those who will be scammed when they shut down are the late entrants; it has happened many times in Naija. Greed can destroy! Beware

This is the only program that has done what our different governments have failed to do....In MMM, ordinary people help each other financially without any strings attached.... The government, the banks, the super rich and the slave masters hate to see ordinary people prospering and that is why they are crying blue murder, but I tell you what, they are a failure even before they started fighting us.... We are a formidable force and a movement of the people.... If you still want to be a slave to money, then join the government to fight us and see who wins... But if you want to be free from the shackles of lack and want, then join the bandwagon.... The train is moving and about to leave a whole lot of people behind... I advise you to join the freedom fighters today... I can show you how if you're determined to free yourself.... You can reach me through johnnychuks2009@yahoo.com for more information..... Remain Blessed, because Together We Change The World.....!!!!

Damn its like I've just been in a cult meeting reading through this thread from the first page and constantly seeing the words "financial slavery" bandied everywhere, i mean even after folks posted stuff about the owner and how the programme has shut down in China and South Africa(with verifiable links), there's is still a very strong gravitation towards supporting the scheme with people using the same exact sentences like they've been programmed that way

p.s

No one has still made a very clear and concise explanation as to why anyone should join this MMM stuff

stan241:
Damn its like I've just been in a cult meeting reading through this thread from the first page and constantly seeing the words "financial slavery" bandied everywhere, i mean even after folks posted stuff about the owner and how the programme has shut down in China and South Africa(with verifiable links), there's is still a very strong gravitation towards supporting the scheme with people using the same exact sentences like they've been programmed that way

p.s

No one has still made a very clear and concise explanation as to why anyone should join this MMM stuff

Nobody asked u to join MMM, it's not by force.

aminho:
i swear on the grave of my grand parents

Keep swearing on the grave of your grand parent, y not show prove that u re scamby MMM.

We want to be scam by MMM too, so pls leave us alone with d story of ur swearing and face front

Guyman02:


Those who will be scammed when they shut down are the late entrants; it has happened many times in Naija. Greed can destroy! Beware

Why can't u people keep mute.and leave us alone? Is it your money..?

wordcat:


This is what SEC said; The venture had no tangible business
model, describing it as a Ponzi scheme, where
returns would be paid from other people’s
invested funds.

at the end the last investors will lose, this is kinda push-me-I-push-you business

stan241:
Damn its like I've just been in a cult meeting reading through this thread from the first page and constantly seeing the words "financial slavery" bandied everywhere, i mean even after folks posted stuff about the owner and how the programme has shut down in China and South Africa(with verifiable links), there's is still a very strong gravitation towards supporting the scheme with people using the same exact sentences like they've been programmed that way

p.s

No one has still made a very clear and concise explanation as to why anyone should join this MMM stuff

Cool bro, I like your position. Keep waiting for reasons to join, while people's lives are getting changed. Go and check the politics behind it been shut down in those countries, those government are basicly anti people. And mind you, MMM only had a pause in South Africa, now its working now.

Bullshit, what are they saying, MMM has really helped me for the past 5 months, there are no jobs every where and you call it Scam, that scam has made me who I am today, today I am an independent girl, MMM is real

Mehn pple shd just stop arguing about this thing already! Jeez that's all i see on nairaland these days. A person has the right to do whatever they please with their money. All the AIM global noise has died down, now this. This is 2016, i personally don't care or feel the slightest pang of pity for anyone who loses money to a scam or ponzi scheme or fraud or even legitimate bizniz. It's all a game of risks..some of us will be careful and do due diligence, others believe the higher the risk, the higher the reward. Win it all or lose it all, it's the person's money, be it an epic gain or loss. Period!

fame12k:


Nobody asked u to join MMM, it's not by force.

Oga calm your tits, the other guy that quoted me got the point i was trying to make

demolagilbert:
Mehn pple shd just stop arguing about this thing already! Jeez that's all i see on nairaland these days. A person has the right to do whatever they please with their money. All the AIM global noise has died down, now this. This is 2016, i personally don't care or feel the slightest pang of pity for anyone who loses money to a scam or ponzi scheme or fraud or even legitimate bizniz. It's all a game of risks..some of us will be careful and do due diligence, others believe the higher the risk, the higher the reward. Win it all or lose it all, it's the person's money, be it an epic gain or loss. Period!

This is the end of the matter. Stop press people!

RexEmmyGee:
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..

You nailed it, bro!!!!

Toks2008:


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.

Baba, i hail!!

JeffreyJamez:




How dare you compare MMM to a banking system?..... Are you that Dull? ....

you are the dullard here. If you listen to your news and are abreast with latest information, you would understand that the rate and culture of saving has gone done. MMM offers a fast avenue for people to cash out monthly their money and Re invest.

Receive sense, mumuuu

winkmart:


you are the dullard here. If you listen to your news and are abreast with latest information, you would understand that the rate and culture of saving has gone done. MMM offers a fast avenue for people to cash out monthly their money and Re invest.

Receive sense, mumuuu

Your foolishness knows no bounds and You surely deserve all the ill luck that is coming your way from this nonsense...I wont bother to educate you on the Banking sector because it will be like pouring water on a rock


FLY WEY NO DEY HEAR WORD, DEY FOLLOW DEAD BODY ENTER GRAVE

niggi4life:
FACEBOOK MAKES MONEY FROM ADVERTS, YOU PAY THEM WITH CASH AND THEY POST YOUR ADS, WHICH IS TOTALLY CLEAR AND VIABLE AND FACEBOOK WONT EVEN GIVE YOU A WHOOPING 30% FOR NOTHING!!

so MMM don't make money from such? Their own website is sleeping while everyone is clicking on them? Your logic?

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

4. 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

i understand your trust and believe in this MMM, but can you pls tell me How they are able to come up with the 30% they payout ? sort of confusing since they dont receive any money directly..

Levi16:

Have you thought about possibility of connivance with their Nigerian agents and web admin to channel some of the PH to their own local accounts? This is the loophole. Think. A web admin will understand my point easily.

hmmm?

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.

SEC is in charge of the capital market not money market go and ask CBN that one

fame12k:


Keep swearing on the grave of your grand parent, y not show prove that u re scamby MMM.

We want to be scam by MMM too, so pls leave us alone with d story of ur swearing and face front

how many times will i show it to u guys abeg go and do it if u lose ur eye go open

The only reason I have not joined is cos I don't believe in making money without stress. MMM is the easiest way to make money