I saw the current MMM advertised by a friend sometime back and I quickly waved it off as a scam as with the HYIP and other ponzi schemes.

https://www.nairaland.com/3321916/sec-warns-nigerians-dangers-mmm

Given this topic that was on the front page today, I saw some comments by people and it was noted that ''There is no pool of money with the current MMM and therefore they can't run away''.

Given the nature of their business, with no investments and the fact that they have put in resources in place to allow for this trade to happen, it is pertinent that one day or another, they will close down, and they won't go through that stress without duping people of their money. Seeing the topic today, I had to register and checkout how the model works , and also brainstorm on the eventual way the MMM operators will dupe those that are in the system.

I am giving a scenario here and though it may not play out the same way, there should be no denying the fact that one day - which i wll term as ''the day of reckoning''. the MMM site will shut operations and will try to make as much as possible from your funds before that.



Now here is the scenario. As there is no pool as someone rightly said, I registered and saw the mode of operation. It is worthy of note that the same MMM site runs in several countries:-

Nigeria
South Africa
India
Colombia
Turkey

So from my postulation, the fold-up will happen in a month - The month of reckoning-- across all MMM sites on that month because anything short of that will send panic to other countries and they won't maximize.

The scenario i see playing out is that the handlers will have bank accounts or agents in all countries of operations and in the month of reckoning, as there is no pool of money, all the ''get help'' requests will be paused - Not paused perse, but no ''get help'' request will go through and will be pending as they won't publish it.

Now the ''Provide help'' will be allowed to work, but the account shown will be that of the handlers of the site (or their agents) and people will keep providing help, but it goes to the scam account. Now this will go on for a month as you have to wait for a month to use your Mavro. The first people that will notice the scam will be the ''Get help'' People as they will keep waiting, but no help will come. Then ''Provide help'' people will come to know after a while and they MMM people will release a statement saying the ''business model experiment failed and they are shutting down''

Be wise Nigerians....

Alternative views and constructive arguments are welcome

Nightmare.

A word is enough for the wise, He that hath ear, let him or her hear.

My brother... I Don talk.. Blow trumpet... Use mega phone talk... Them say I be lai Muhammed.... SMH SERIOUSLY..

God!!! How would u not work... And u think u will earn such huge amount without any consequences at the tail end?


Hooo my God!!


God abeg open their eyes ooo

I'm perplex cuz I'm @bt to reg....

tempest01:
I saw the current MMM advertised by a friend sometime back and I quickly waved it off as a scam as with the HYIP and other ponzi schemes.

https://www.nairaland.com/3321916/sec-warns-nigerians-dangers-mmm

Given this topic that was on the front page today, I saw some comments by people and it was noted that ''There is no pool of money with the current MMM and therefore they can't run away''.

Given the nature of their business, with no investments and the fact that they have put in resources in place to allow for this trade to happen, it is pertinent that one day or another, they will close down, and they won't go through that stress without duping people of their money. Seeing the topic today, I had to register and checkout how the model works , and also brainstorm on the eventual way the MMM operators will dupe those that are in the system.

I am giving a scenario here and though it may not play out the same way, there should be no denying the fact that one day - which i wll term as ''the day of reckoning''. the MMM site will shut operations and will try to make as much as possible from your funds before that.



Now here is the scenario. As there is no pool as someone rightly said, I registered and saw the mode of operation. It is worthy of note that the same MMM site runs in several countries:-

Nigeria
South Africa
India
Colombia
Turkey

So from my postulation, the fold-up will happen in a month - The month of reckoning-- across all MMM sites on that month because anything short of that will send panic to other countries and they won't maximize.

The scenario i see playing out is that the handlers will have bank accounts or agents in all countries of operations and in the month of reckoning, as there is no pool of money, all the ''get help'' requests will be paused - Not paused perse, but no ''get help'' request will go through and will be pending as they won't publish it.

Now the ''Provide help'' will be allowed to work, but the account shown will be that of the handlers of the site (or their agents) and people will keep providing help, but it goes to the scam account. Now this will go on for a month as you have to wait for a month to use your Mavro. The first people that will notice the scam will be the ''Get help'' People as they will keep waiting, but no help will come. Then ''Provide help'' people will come to know after a while and they MMM people will release a statement saying the ''business model experiment failed and they are shutting down''

Be wise Nigerians....

Alternative views and constructive arguments are welcome

That is why phone numbers are displayed for you to call before you make any payment.

Hmmmm. Make I go deposit.

1 Time
2 Time

I doubted it since the first day I heard of ....

Fraud

hmm

if MMM is a scam but is helping hand not a scam? here is my story, last yr a friend of came to me about helping hand telling me to join the biz with 6600, I now ask him, so what will happen after paying the money? would I be selling things or what? cos I no of GNLD, Organo gold etc, he said am not selling anything only that I will b bringing more plpp to join that dey will b under me and the more plpp comes in the more dollar I get and soon dey will give me laptop, cars etc, I now ask so how do dey make the money to give me those items he mentioned, cos he told me that the dollar that will pay are used to help the less privileged plpp, I now ask him that means I will be robbing peter to Paul for dem? I said am not interested, few months later I saw my friend with brand new laptops, and show me his how much he has made, den he convince me gain to join, I have no choice, I borrowed 6600 I join helping hands, most plpp I try to convince to join me no even answer me most plpp even tell me say dem don join since say dem never see anything, I blamed my self for not join dem in time...... early this yr of one my trusted friend came to me about MMM, he explain it to me said I could join with any amount, I did not even think twice, b4 I joined, I used the little change I made from my daily hustle to do it, it was like a magic, the thing pay, I try it again, it works and still working. but my question is y Calling MMM fraud? and Helping hand is not a fraud, even when both of dem are risky? don't tell me 6600 naira is not too big to lose, I No Nairaland admin will ban me again,

K

Go sit down

The kind heartbreak and heart attack wey de road de come still de do press-up.

To be forewarned is to be forearmed.

A stitch in time they said, saves nine.

I don tok am. mmm na Ponzi scam.

MMM will end when online and offline articles like this begin to circulate and spread panic around thus discouraging more people from joining the scheme.

These kind of schemes thrive on what I will call goodwill and once many people begin to speak against the program as is happening now, it is most likely heading for a crash.

A word is enough for the wise.

Na dem sabi oo

Hmmmmmm....everyfin na risk,breathing na risk,putting ur money in d bank to save na risk(d bank fit fold up anytym wif ur moni),importation na risk,,,ur gooods fit sink...soo leave mmm alone...if it closes...d pple in d connunity will no dat dey tried taking a risk n it failed...of course dey will rise again...dan nt taking d risk @all...tks

flexydote:


That is why phone numbers are displayed for you to call before you make any payment.

This is the problem. Every potential victim of a scam always think they are smarter than the last guy that got scammed.

The victim does all the hard work, you just help him along. Feed the pieces to the victim. The victim takes them because he’s smarter and you're dumber. Place the victim in an environment he can control. The bigger the environment, the easier to control. Toss the dog a bone. Find his weakness. Give him just a little of what he thinks he wants. Distract the victim by getting him consumed with his own consumption.
The bigger and older the trick, the easier it is to pull. He thinks it can’t be that old or big for so many people to have fallen for it. Eventually, when the conman is questioned or challenged, it means the victim’s investment, and thus his intelligence is questioned. No one can accept that. Even to themselves. The victim will eventually hang himself. You just help him along.

I think what this writer is trying to say there should be some iota of truth in it, but yesterday I got tempted after a friend of mine got his own 30 percent and registration bonus I was amazed.......The Question here is, how do they Get there money.

well already those agents are at work unfortunately make co0l millions, using the decoy that there ain't a central account to decieve gullible Nigerians.

Playing the game aint what am against at, Buh the way Nigerians go about it, a lot would get their hands burned walahi,

I read that SEC aiidy warned Nigerians too.... Op, u can try other means of advising em but one thing is very sure, Wen this MMM thing wud fold up, t will still go away with so many pple's hard earned money
.. In short, they won't listen

It's like gambling. Two rules applies;

1. Quit while you're ahead
2. Never enter with what you can't afford to lose.

@Op nice.

MMM is the best paying job in Naija today. If this APC regime cannot provide jobs for the teeming adorable unemployed Nigerians while MMM has given people opportunity to get help financial then tell who is fake/fraud between Nigeria govt and MMM.

I've been told about that but my current responsibilities and project didn't even let me think twice over it. I was like..

tempest01:
I saw the current MMM advertised by a friend sometime back and I quickly waved it off as a scam as with the HYIP and other ponzi schemes.

https://www.nairaland.com/3321916/sec-warns-nigerians-dangers-mmm

Given this topic that was on the front page today, I saw some comments by people and it was noted that ''There is no pool of money with the current MMM and therefore they can't run away''.

Given the nature of their business, with no investments and the fact that they have put in resources in place to allow for this trade to happen, it is pertinent that one day or another, they will close down, and they won't go through that stress without duping people of their money. Seeing the topic today, I had to register and checkout how the model works , and also brainstorm on the eventual way the MMM operators will dupe those that are in the system.

I am giving a scenario here and though it may not play out the same way, there should be no denying the fact that one day - which i wll term as ''the day of reckoning''. the MMM site will shut operations and will try to make as much as possible from your funds before that.



Now here is the scenario. As there is no pool as someone rightly said, I registered and saw the mode of operation. It is worthy of note that the same MMM site runs in several countries:-

Nigeria
South Africa
India
Colombia
Turkey

So from my postulation, the fold-up will happen in a month - The month of reckoning-- across all MMM sites on that month because anything short of that will send panic to other countries and they won't maximize.

The scenario i see playing out is that the handlers will have bank accounts or agents in all countries of operations and in the month of reckoning, as there is no pool of money, all the ''get help'' requests will be paused - Not paused perse, but no ''get help'' request will go through and will be pending as they won't publish it.

Now the ''Provide help'' will be allowed to work, but the account shown will be that of the handlers of the site (or their agents) and people will keep providing help, but it goes to the scam account. Now this will go on for a month as you have to wait for a month to use your Mavro. The first people that will notice the scam will be the ''Get help'' People as they will keep waiting, but no help will come. Then ''Provide help'' people will come to know after a while and they MMM people will release a statement saying the ''business model experiment failed and they are shutting down''

Be wise Nigerians....

Alternative views and constructive arguments are welcome

My brother thats what happened to me and i lost 500k i can provide help but cant get help

The last people to put money into the scheme will eventually be the ones to pay all the 30 percent interest the current subscribers are enjoying. Those last guys will lose all their money.