IghoCentric:
Personally I have made over 500k in profit from mmm and I never put more than 200k at a time... I wait for that to run its circle then another 200k. I just dey shoot my letter of happiness video so..... The thing is simple. We all have diff levels of risk taking... As for me I prefer mmm to forever and all those mlm... Shey na my money?... Allow me use am as I like.... I'm just a risk taker and I enjoy the adrenaline... Well and the money ofcourse... Lol.... I ve wasted money on forex, importation.... The list goes on... My guys if mmm close today I nor shake... I ve made more from it than from my other experiments...

Good for you the early bird. Advice to you is not to fall for the temptation of buying more money and getting rich quick. And if the account you are to pay the money into looks suspicious, then don't.

WHIZKIDEFE:
Yes o, i agree with you say everything na risk but e beta say make we use our brain minimize d risk, nor be this kind gamble(MMM) own. Na so i take lost 30k( wey be like 30 million for my hand) for july, unto this kind stuff. D tin b say, na d 1st set of people wey start d investment dey enjoy am. Our fore fathers say 'war wey person hear about no suppose kill am'. Invest wisely and sleep well every nite. Dat money wey i lose, awish i use am do importation biz i for don get small knowledge about the biz now + some cash by now..

...u tink say exportation no be risk...ma darl ma bro is into it...if I start to dey gist u wetin him dey c ...am sure u wnt try to export talk more of to cont...ma point it dis everyfin na risk...hv talked with pple into mmm...dey dnt care ....dey r willing to talke more risks...n daz what makes u a MAN....do u do naira abi naija bet?....dat 1 no be scam baa...let's stop being sentimental...no jobs,,,no moni in circulation,,,dollar 425(on tuesday)nt sure of today..am an sure its heading to 500...pls leave mata for mattias...na pple wey no get dime for d system dey cry pass

ijeshaboy:
boss please how can I shoot the letter of happiness video

Shoot on ur phone.. Stating ur name and location how much u phef and ghed.. Then say thank mmm... That's what I did.. Then upload to YouTube, copy the link and paste it on ur letter of happiness.. Under where u write ur letter u will see the link for video the... My broad once u do this na 5% of ur gh amt be that.. Fuel money free like that. U can do all on ur phone.. Use ur gmail account to sign into YouTube.

nathanjnr:


How much be SIM?

Your question dey on point...


People deceiving themselves.

MMM has over 10 safety nets which will never make it crash. And you Never notice But I will mention 10 out of them.

*1, Pause mode*

*2, 14 days defrost*

*3, Extension of the getting help hours*

*4, Seeking help from neighboring country*

*5, No central account attached*

*7, Peer to peer system*

*8, Guider's efforts*

*9 PH match hours extension*

*10, Website upgrades and security*

*1, Pause mode*

This process is applied when the numbers of the people getting help is greater than the people help. The system will pause the GH transactions and allow more PH to come into the system for the duration of 2 and half months, then the system will now restart.

PH means provide help and the GH means get help

*2, 14 days defrost*

The participants will not be able to withdraw their money until after 14 days when the payments have been confirmed. During this process, more PH would have come into the system therefore there would be pool of cash to pay the old participants.

*3, Extension of GH hours*

this occur when there is a public holidays when the banks are not working therefore, there won't be transaction and it may cause the problem to the system. The system will now extend the hours of the people who are getting help at that period to allow more People providing help into the system.

*4, Help seeking from neighboring country*

When there are more GH than PH in a country, MMM will look into the other countries which are doing well and match them together, pending the time that the affected country will be OK.

*6, No central account attached*

MMM does not have a certain account that we are sending to. MMM doesn't collect your money.

*7, Peer to peer system*

Participants pay directly to the bank account of the other participants seeking help

*8, Guider's efforts*

Guiders are the heartbeat of MMM, guiders make sure each and everyone in MMM understand the Ideology of MMM and how it works

*9, PH match hours extension*

When the system finds out that there are more GH than PH, the system will extend the hour of old PH so that to hold down their order matches duration and during this period, the system will allow more new PH to come into the system to get it balanced.

*10, Website upgrades and security*

MMM spends million of dollars in taking care of their website to cub online fraud in MMM, such as scam and other Threats.

Well said Tempest01

davids202:
SEC my ass, when they allowed chemist to sell ipo to ignorant Nigerians as pharmaceutical companies n we lost our monies what did they do, Nothing. When transcorp scamed Nigerians what did they do. Nothing now they are here saying they are protecting who, who em elp. MMM wld only fail if more Nigerian don't join n we r making sure people provide help. The aim of mavrodi is simply he hates the banks and the fact they don't help the common man so why keep ur money in the bank when you can turn it around. The rich will make sure mmm don't work cos they still want you to remain loyal as for me and my friends it's mmm all the way. Join me and become financially free.

When a mumu is talking you can always tell.

aminho:


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

Baba. How can you be losing money in a scheme that is yet to be saturated? Thousands of people are joining on daily basis contributing to a pool of fund worth millions that can be used to Provide help of a 500,000 to 1000 persons.

selective:
My take on MMM Nigeria and sec : Sorry but i will respond to these from a different side because, i ve over 20 twenty unanswered questions. 1.In 2008 and i bought Ecobank share for about 110,000# and till date ve not been rewarded up to 3000#. 2. In 2011/2012 Nigeria and China signed and MOU on Kanji Dam of repairs and others will are paying above $5m Intrest rate, on a 15years deal, now sold out after 2-3years as scrab to the so call rich boys(looters) 3.In the last election dollar where seen developing legs and arms sec was blind. 4.The government were now creating grazing the Field for cattle business boys. Sec was asleep. 5. The Minister for darkness told us on a national Tv to please pay in advance a service not yet rendered, sec where are you. 6. I want answer to these before i say more. Get these correctly we have stand to SAY NO to financial slavery and has come to understand in the power of giving. The only thing that makes a common happy MMM. If your is not making profit repackaged and refire, rather still, get people with great ideas to help out. Leave the shame invite expect and be free. MMM is sure and real and has come to stay. From the lnsider

I'm not supporting SECS statement here or refuting it. What I'm saying is that one day they will close down. I am predicting their modus operandi before closing on how they will get your funds. Try as much as possible not to be among those that "provide help" before they close down.

aminho:


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

When and how? With MMM?

If it closes today, have realised more than I expected live goes on but until then I'd keep pumping and receiving.

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

lol.....this shows DAT u know nothing abt mmm

H

NPComplete:


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.

--Mr Green, Revolver

we are all well aware of the risk so I don't understand ppls concern. The truth is we voluntarily take the risk if it closes no problem after all we are well aware.

Keep calling it scam while I receive alerts all the time...

Some cowards here who can't take risk are here to discourage people. You warned the first time and keep warning again. Why taking medicine for another person's headache.... We are cool with the risk. Take your sorry state to another place. SEC is in charge of stock exchange. Ask them what happens to our shares that nosedive under their watch. But they didn't call it Scam Every investment is a risk. We know. We do MMM with our spare money. Some will be typing rubbish here and their state will not change. They will watch their neighbors life changing for good through MMM. What SEC and banks could not do in years. MMM has done in few months.

Thanks for your warning or jealousy... I'm still looking out for another anti MMM article tomorrow from jobless and no risk cowards tomorrow. This is sure a media campaign against MMM. But guess what. Nothing will stop us from providing help and making a fellow citizen happy. This is a good cause which I'm happy to be part of...

MJ

Some go run mad pull their pants on the road like this.

Chai, how I wish Emeka is here to read this by himself. This guy will not allow me rest because of this big time scam. I was once a victim nd would never fall a victim again.

aminho:


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

you lost 500k @ mmm...lol that's a lie. If u have a problem getting help get info on hw to go abt it

aminho:


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

lie-lie boy

millionboi:
lol.....this shows DAT u know nothing abt mmm

This shows you will most likely be among those scammed.

MMM Global only gave South Africans the bad news with a post on its website saying “We regret to inform you that we have to close down the Republic of Bitcoin. It was an experiment, and, unfortunately, it failed. We turned out not to be able to pay 100% per month.”

Less than three months after the company collapsed in South Africa, MMM Global, a Russian Ponzi Scheme company has opened shop in Nigeria with the domain name- nigeria- mmm .net
MMM was established in 1989 by Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken from the first letters of the three founders’ surnames.

Initially, the company imported computers and office equipment. In January 1992, tax police accused MMM of tax evasion, leading to the collapse of MMM-bank, and causing the company to have difficulty obtaining financing to support its operations. Faced with difficulties in funding its foreign trade, the company switched to the financial sector. It offered American stocks to Russian investors, but met with little success. Later, MMM-Invest was created for the purpose of collecting vouchers during privatisation. This effort was similarly unsuccessful.

MMM created its successful Ponzi scheme in 1994. The company started attracting money from private investors, promising annual returns of up to one thousand percent. It is unclear whether a Ponzi scheme was Mavrodi’s initial intention, inasmuch as such extravagant returns might have been possible during the Russian hyperinflation in such commerce as import-export.
MMM grew rapidly. In February 1994, the company reported dividends of 1,000%, and started an aggressive TV ad campaign. Since the shares were not quoted on any stock exchange and the company itself determined the share price, it maintained a steady price growth of thousands of percent annually, leading the public to believe its shares were a safe and profitable investment.
An important factor in the scheme’s success was word of mouth, but most of the company’s success came from its extremely aggressive ad campaign, which appealed to the general public by using “ordinary” characters that viewers could identify with. The most famous of them, a “folk hero” of early 1994, was Lyonya Golubkov. Another notable marketing effort was a giveaway of free Metro trips to all Moscow citizens on a particular day. MMM also was one of the first well-known companies in Russia with a logotype and slogans (“Flying from shadow to the light” and others).
At its peak the company was taking in more than 100 billion rubles (about 50 million USD) each day from the sale of its shares to the public. Thus, the cashflow turnover at the MMM central office in Moscow was so high that it could not be estimated. The management started to count money in roomfuls (1 roomful of money, 2 roomfuls of money, etc.).
Regular publication in the media of the rising MMM share price led President Boris Yeltsin to issue a decree in June 1994 prohibiting financial institutions from publicising their expected income.
The success of MMM in attracting investors led to the creation of other similar companies, including Tibet, Chara, Khoper-Invest, Selenga, Telemarket, and Germes. All of these companies were characterised by aggressive television advertising and extremely high promised rates of return. One company promised annual returns of 30,000%.
On July 22, 1994, the police closed the offices of MMM for tax evasion. For a few days the company attempted to continue the scheme, but soon ceased operations. At that point, Invest-Consulting, one of the company’s subsidiaries, owed more than 50 billion rubles in taxes (USD 26 million), and MMM itself owed between 100 billion and 3 trillion rubles to the investors (from USD 50 million to USD 1.5 billion). In the aftermath at least 50 investors, having lost all of their money, committed suicide.
Several organisations of “deceived investors” made efforts to recover their lost investments, but Sergei Mavrodi manipulated their indignation and directed it at the government. In August 1994 Mavrodi was arrested for tax evasion. However, he was soon elected to the Russian State Duma, with the support of the “deceived investors”. He argued that the government, not MMM, was responsible for people losing their money, and promised to initiate a pay-back program. The amount ultimately paid back was minuscule compared to the amount owed.
In October 1995, the Duma cancelled Mavrodi’s right to immunity as a deputy. In 1996, he tried to run for Russia’s presidency, but most of the signatures he received were rejected. MMM declared bankruptcy on September 22, 1997.
While it was believed that Sergei Mavrodi left Russia and moved to the United States, it is possible that he stayed in Moscow, using his money to change apartments regularly and employ a group of former special agents. With the help of a distant relative he started Stock Generation Ltd., another pyramid scheme based around trading non-existent companies’ stocks in a form of the “stock exchange game” on the company’s site, stockgeneration.com. Despite a bold-letter warning on the main page that the site was not a real stock exchange, between 20,000 and 275,000 people, according to various estimates, fell for the promised 200% returns and lost their money. According to U.S. Securities and Exchange Commission, losses of victims were at least USD 5.5 million.
Mavrodi was found and arrested in 2003. While in custody, Mavrodi was given until January 31, 2006 to read the documents in his fraud case against him (The criminal case consisted of 650 volumes, each 250-270 pages long). At the end of April 2007, Mavrodi was convicted of fraud, and given a sentence of four and a half years. Since he had already spent over four years in custody, he was released less than a month later, on May 22, 2007. He later went on to creating yet another pyramid scheme called MMM-2011.
The MMM scandal led to increased regulation of the Russian stock market, but the legacy of the fraud led many to become extremely suspicious of any joint stock companies.
In 2015 MMM began operating in South Africa with the same business model as MMM-2011, claiming a “30% per month” return through a “social financial network”. The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank. In response to mounting criticism and official investigations by state authorities in 2016 supporters of the South African MMM scheme staged a protest march in Johannesburg.
In 2016, MMM launched a website targeting the Nigerian audience.
Many Nigerians who are not conversant with the fact that the company is a fraudulent establishment that defrauded more than 40 million people of at least USD10 billion before being shutdown and declaring bankruptcy in Russia.
As reported by Fin24, MMM Global in its usual manner operated a platform where its members are encouraged to donate money to others by rewarding them with the bitcoin-linked virtual currency – Mavros – in return, and can apparently get 30% return on their rand investment by doing so.
However, it is a known knowledge that a scheme is a Ponzi scheme when expected return is 20% higher than the repo rate. To the amazement of any reasonable person, many South Africans still fall prey despite the fact that the repo rate in SA is 7%.
MMM Global only gave South Africans the bad news with a post on its website saying “We regret to inform you that we have to close down the Republic of Bitcoin. It was an experiment, and, unfortunately, it failed. We turned out not to be able to pay 100% per month.”
How can a company that has been defrauding people since 1989 claim its scheme is an experiment in 2016?
I met a former colleague who has fallen prey to the fraud. He was reveling in the phantom promise that his NGN100,000 will yield him additional 30% in return. I immediately alerted him that he has fallen for a Ponzi Scheme and that everything will soon blow up in his face.
To further delude their victims, MMM Global has been using propaganda and lies. My colleague narrated the origin of the company to me. Even a smart person will get carried away. The height of the idiocy was when he told me that MMM was closed down in Russia because the company became richer than the Russian government and all the banks put together.
A day before it collapsed in South Africa, BehindMLM, a website that reports news on Ponzi Schemes and Multi-level Marketing, MLM warned the public saying:
“The financial apocalypse is upon us, MMM Global has collapsed,”
“MMM Global’s Ponzi clones offering a lower percentage haven’t ‘proved’ themselves any more than MMM Global did,”
“MMM Global cannot sustain paying out more than is invested. And as long as affiliate investment is the only source of revenue entering the scheme, any MMM Global scheme will ultimately collapse.
“They’ll continue to pay ROIs (return on investments) until withdrawals exceed the rate of new investment, and then run out of money all the same. One only needs to look at the collapse of MMM China for evidence of what’s to come”.
“Unfortunately for most MMM Global investors, the collapse is the end of the line. Those unlucky enough to live in countries where MMM Global runs secondary scams (like South Africa), were informed their accounts would be transferred over.”
However, I am not surprised that Nigerians will fall prey to MMM Global. Ponzi Schemes are recurring decimals in the social history of Nigeria. From fraudulent investment clubs, to wealth solutions and other MLMs across the country.
In the midst of the banking boom, many Nigerian lost billions of Naira (NGN) to Ponzi Schemes who promised millions of the population superfluous interest rates close to 150% within 30 days.
A writer once accused many Nigerians of ‘momentary amnesia’, but in the midst of an economic crises, record inflation and ‘technical recession’, the lack of access to information by victims of such schemes seals their fate.

Haykings100:
A word is enough for the wise, He that hath ear, let him or her hear.

mmmm

aminho:


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

pls are u serious?.....who is ur guilder?

aminho:


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

Bro, that is a big fat lie. That can never happen. You are a scam. Why doing this to yourself all in the name to discourage people. Am sure u have never registered let alone providing help....if u a real sure about this... DM me and I will take your matter up

IghoCentric:
Personally I have made over 500k in profit from mmm and I never put more than 200k at a time... I wait for that to run its circle then another 200k. I just dey shoot my letter of happiness video so..... The thing is simple. We all have diff levels of risk taking... As for me I prefer mmm to forever and all those mlm... Shey na my money?... Allow me use am as I like.... I'm just a risk taker and I enjoy the adrenaline... Well and the money ofcourse... Lol.... I ve wasted money on forex, importation.... The list goes on... My guys if mmm close today I nor shake... I ve made more from it than from my other experiments...

Can you pls help me with the direct link that lead to log-in page on the site... I have registered and I am having problem of log-in. Thanks in advance

The idea is genius.

It may fail or succeed though. More on the failing side as the founder is an ex-con but hey! You never know.

I am particularly concerned about how a third party scam can easily be carried out on it

globalresource:
Some cowards here who can't take risk are here to discourage people. You warned the first time and keep warning again. Why taking medicine for another person's headache.... We are cool with the risk. Take your sorry state to another place. SEC is in charge of stock exchange. Ask them what happens to our shares that nosedive under their watch. But they didn't call it Scam Every investment is a risk. We know. We do MMM with our spare money. Some will be typing rubbish here and their state will not change. They will watch their neighbors life changing for good through MMM. What SEC and banks could not do in years. MMM has done in few months.

Thanks for your warning or jealousy... I'm still looking out for another anti MMM article tomorrow from jobless and no risk cowards tomorrow. This is sure a media campaign against MMM. But guess what. Nothing will stop us from providing help and making a fellow citizen happy. This is a good cause which I'm happy to be part of...

MJ

this has nothing to do with SEC...i'm not telling you not to invest in MMM, im telling you to be wary. Im informing you on how you can be scammed on the long run.
They only strike when you are very comfortable with risking your money.
Don't let greed come into play.

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

Be wise!

fake story

Gasout:
I have warned my friends who have tried to persuade into MMM and I bluntly say 'NO!'

MMM is a fraud. What kind of blind investment gives U 30percent of Ur savings monthly?...Even banks who have better investment networks can never dare such huge percentage...

Let him that have hear; let him hear. They say if a word is enough for the wise, then a thousand words should be enough for the foolish...

NEVA SAY NEVA

Datz y bank is kick in against it