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How The Current MMM Will Likely End - As a Scam - Business (6) - Nairaland

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Re: How The Current MMM Will Likely End - As a Scam by Nobody: 8:23am On Sep 02, 2016
aminho:


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

Say the truth on how u lost your 500k plz , describe what happens and let me tell u the truth, I've been in MMM for 6months and I he never lost N1. Your case must be u didn't follow instructions cos u were trying to be smart.

2 Likes 1 Share

Re: How The Current MMM Will Likely End - As a Scam by dagok(f): 8:25am On Sep 02, 2016
If they say MMM is a Scam, no qualms but…. Ask them this questions ,
When Nepa over bills/gives estimated bills…it is not a scam.
When DSTV still charges you for not using ur subscription due to no NEPA light….it is not a scam
When filling stations adjust pump and sell at 160 per liter in disguise…it is not a scam
When bank deduct several money/charges from your account for nothing…it is not a scam
When politicians loot national treasury without probe while our infrastructures gets dilapidated, no jobs for the youth, no money to pay workers salaries….. This too no be scam stall
What about the fake Immigrations recruitment that claimed lots of innocent lives….that one sef no be scam Abi?
Police recruitments that requires only N10,000 men yet they charged 1,000 for form that over 100,000 youths bought….. More like scam to me.
Rubbish!!!
The same Punch Newspaper/ media houses used to advertise sport betting, baba ijebu and national lottery and gambling and yet, thats not a scam!!!!
When poor tax payers pay for the development of Nigeria and buhari uses the money for abroad trips and medical treatment is a scam.
When buhari sells dollars for N420 so that his Hausa Northerner brothers can make more money is a pure scam
When buhari gas agreed to swap Boko Haram members with chibok girls is a pure scam because that’s not his campaign promise
When buhari keeps quite to allow herdsmen to Kill innocent Nigerian is a scam on humanity
When governors refuses to pay salaries and yet they move in convoy and drive cars with the millions of naira is a scam
When they claim to be fighting terrorism and send soldiers without enough ammunitions to die but share arms money amongst themselves while chibok girls are been used as sex slaves…. Dem no see scam for these ones too.
Only because MMM is bringing ordinary people worldwide together to help one another financially freely and get rewarded 30% for it..
Nigerians, shine your eyes oooo!
MMM is not a scam, rather the government wants you to be more poor so they can use you during campaign as thouts and thugs and after election they will still send police to arrest you as a criminal but they are the ones that teach you how to commit the crime
I just wanna make Mavro Sense.

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Re: How The Current MMM Will Likely End - As a Scam by dolarpo(m): 8:25am On Sep 02, 2016
Scam or no scam, one thing is certain in life and that is risk. U either win or loose. Everyday isn't Christmas or birthday but these days do exist. Some people have taken the risk and have benefited from it. If u do nothing u gain nothing or u loose nothing. U can never gain by being scared or too careful, sometimes u take risks having on mind that u gain or lose. Even people who do legit businesses still lose so there's no harm in trying.

4 Likes 1 Share

Re: How The Current MMM Will Likely End - As a Scam by Nobody: 8:27am On Sep 02, 2016
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





So when u decided to join did you provide and your are hoping to get help after 30days? If u did then u believe in the ideology of MMM but if u didn't then u are not as wise as u think u are cos if u were u didn't need to join to understudy the system.

1 Like 1 Share

Re: How The Current MMM Will Likely End - As a Scam by Ranchhoddas: 8:27am On Sep 02, 2016
[quote author=hustler86 post=49002649][/quote]Hmmm... I did not think of it that way. Makes sense.
Re: How The Current MMM Will Likely End - As a Scam by Nobody: 8:28am On Sep 02, 2016
balowo:
Why are u people is just like this? MMM is real and they are not collecting money from anybody but we pay to each others in the community. Pause mode may happen when there no new member. have u ever ask yourself how insurance company gets money to reinstate your damaged property. MMM is using the same method of insurance companies use, moreover life is a risk stop discouraging people from getting out of this current economic brake down
I agree with you, it is a risk but pls stop comparing MMM with banks and insurance companies. What insurance, pension and banks do with your money is simply business. For instance, the insurance and pension companies give you money to the banks, The banks then give loans to people who want loans with the money with a certain interest rate. This is where your own interest comes from. The bank is simply acting as a middle man here but in a more organised way. Now, tell me what MMM is doing to make profit. Is it an NGO? What kind of business is it? It is simply a scam. The reason why you see bet scheme all over the place is because there are people loosing their money when someone is winning. Who is borrowing to pay back with interest in MMM? Who is loosing money that is your own gain? You cannot get help if you have not put in money. Is there any collateral? Surely, some people will loose their money at a certain time. When? We don't know.
Re: How The Current MMM Will Likely End - As a Scam by NPComplete: 8:30am On Sep 02, 2016
loswhite:
H 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.
Sadly not many people are aware. You are because u are informed. And I am sure u won't put ur life savings into this. But there are people who will. People who will be convinced by the rave and put an increasingly higher stake into it. People you helped convince.
Some people are going to be the ultimate victim of this. And u will probably benefit from their victimisation. Fact. For me, this is unconscionable

1 Like

Re: How The Current MMM Will Likely End - As a Scam by Larryjay4u: 8:30am On Sep 02, 2016
OP u must be in my mind. The exact scenario I painted for some friends this morning is what u just used. I think greed is part of what is motivating people to go into this venture.

How come you must provide help before you get help. Why can't the reverse be the case. It simply shows that your money is coming from other peoples sweat and in the day of "reckoning" their eyes will open.

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




Re: How The Current MMM Will Likely End - As a Scam by Nobody: 8:30am On Sep 02, 2016
feldido:



Guy, you seem to look like the con man himself, why sowing bad seeds on people's minds cos u are 1?
The truth is always hard to go by.
Re: How The Current MMM Will Likely End - As a Scam by aminho(m): 8:32am On Sep 02, 2016
globalresource:


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
ok whatsapp me +8618344304700
Re: How The Current MMM Will Likely End - As a Scam by ToySoldier2: 8:34am On Sep 02, 2016
Well I am not surprised at this article because it is expected. Usually, any venture that tend to undermine similar investment will always have enemies. The enemies of MMM in this case include the banks and the securities companies who who would rather see it as a foe to crush.
First how does work?
The 30% addition perse is not paid by MMM, hence it cannot be classified as a ponzi scheme.
How then does it come? It just an example of how a just society should run. If you provide help of say 100000 to help someone who you are purportedly better than, that 100000 will be credited as mavro in your account plus another 30% mavro. Now that will enable you to get help of 130,000 from another person and the circle continues. What it does is to connect the rich to the poor systematically.
Now, the only thing that can really stop MMM is the government because as long as people keep getting and receiving help, the system continues. It is not expected to crash because the money being received does not come from a central source.
Let's go back to history to check the countries where MMM have had issues. First of all in Russia. It didn't crash perse, but the government sued it for tax evasion. Of course how can a venture that does not collect money from any body pay tax. Second was China. In China, they out rightly labelled it a ponzi and was banned. Same thing in South Africa. So it is always about the Govt.
Someone may ask, why do governments fight MMM.
First, with MMM around, people will no longer put their money in the conventional stock market leading to negative trade the government does not like that because they feel it is not good for the economy, but they quickly forget that the stock market only enriches a few, but MMM empowers the people directly. Ie. Any one who is interested

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Re: How The Current MMM Will Likely End - As a Scam by manuelrukky(m): 8:36am On Sep 02, 2016
One potent reason MMM has grown this well is attributable to the sophisticated organisation employed to stabilise the inflow and outflows. It is important to recognise that the disintegration of any financial setup can be initiated quickly, by spreading wrong info about it.

Imagine the havoc that will happen should word get out today from cbn that first bank or any bank is distressed. Every customer of first bank will troop to first bank to request for all their cash, and the bank will go bankrupt because it will not be able to pay everybody.
Aware of the power of false info on the stability of any financial institution, The financial regulators, have begun a massive publicity against MMM.

MMM is not an investment as is said, even though some wealthy Nigerians have taken advantage of it as such because of the systems design made to give back 30% plus help amount back after 30days of helping some other member of the community.

MMM is designed primarily as a help community. And the regulation is for members to participate with their spare funds so that in the case of a shut down for example from government orders, it will cause only minor nervousness.
The SEC warning is for folks pouring all their life's work and earning into MMM simply because the 30% returns is almost inevitable.

Whilst the banks are enjoying the transfer of funds from participant to participant on MMM because of the generated #100 charged per transfer, it is important for MMM participants to adhere to the fundamental concept of MMM.

It's strictly for mutual help and should be partaken in with spare funds only.

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Re: How The Current MMM Will Likely End - As a Scam by Bsideboi(m): 8:36am On Sep 02, 2016
olatop:
I'm perplex cuz I'm @bt to reg....
Check out meridian's life support foundation call: 07034312400
Re: How The Current MMM Will Likely End - As a Scam by ziego(m): 8:38am On Sep 02, 2016
Snow5:
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 see slavery in ur statement

Must u work out ur life before u earn?

That's why employers over use them

2 Likes

Re: How The Current MMM Will Likely End - As a Scam by Algolla: 8:38am On Sep 02, 2016
We are MMM and MMM is the commuinity, I don't really know why making issues out of this, if no special interest or are you saying we shouldn't be financially free. Please we all know the risk involve and we know how to mitigate them just sit and look at us from far.
Its no body business to warn or tell us what we know.........MMM is bridging the Gap between the rich and the poor seriously and together we change Nigeria and the world


https://www.nairaland.com/3324169/mmm-members-providing-needy#49001920

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Re: How The Current MMM Will Likely End - As a Scam by Charlesberry(m): 8:38am On Sep 02, 2016
[quote author=ToySoldier2 post=49003144][/quote]
Bro, ya head dere there. Make dem criticise. Na their own cup of tea
Re: How The Current MMM Will Likely End - As a Scam by ziego(m): 8:40am On Sep 02, 2016
eph12:

A business is not registered, nobody knows its office and you talking about ignorance? Let them register their business and have known offices and we won't ask questions again. I am not interested in free money. Tell me I have to work for it and I did be more interested but no?

MMM is not a bank, MMM does not collect your money, MMM is not an online business, HYIP, investment or MLM program. MMM is a community where people help each other. MMM gives you a technical platform which helps millions of participants worldwide to connect those who NEED help to those who are ready to PROVIDE help, for FREE. All transferred funds to another participant are your help given by your own good will to another one, absolutely gratis. If you are completely confident and certain in your actions and make your mind to participate

2 Likes 1 Share

Re: How The Current MMM Will Likely End - As a Scam by feldido(m): 8:40am On Sep 02, 2016
majekdom2:
The truth is always hard to go by.

Keep your so called truth to yourself,

With just 50k I invested in MMM, I have been able to expand my farm.
I have been able to have spare cash.
I have been able to Gather some forex to continue my Gold plating Business.


Now how is that SCAM?

4 Likes 1 Share

Re: How The Current MMM Will Likely End - As a Scam by kyce(m): 8:40am On Sep 02, 2016
@OP
I would have have loved to spend some time to show how ignorant you are with the operation of MMM.
However I was really looking forward from your post heading how MMM will collapse and seriously you failed miserably.
How stupid do you think the MMM participants are, that they will all one day be requested to pay into a given account!
Seriously!
Well for those who have spent the best part of their time telling us how MMM will collapse, could you for
once try and spend the same time in telling the Federal govt to provide jobs for her teeming youths,
Or tell the banks to give soft loans to the many entrepreneurs.
But for now and in the foreseeable future MMM Pays and still Pays.
To even think for once that this is a Ponzi scheme shows how shallow minded the SEC is or rather beclouding their reasoning
to achieve a simple goal of fighting the MMM scheme.
Peace to you all

2 Likes 1 Share

Re: How The Current MMM Will Likely End - As a Scam by Charlesberry(m): 8:41am On Sep 02, 2016
Keep critizing, it wouldn't bring any penny to your pocket. Government use bank tru legal mean to steal from individual and enriched them selves. Wouldn't say much.

1 Share

Re: How The Current MMM Will Likely End - As a Scam by kyce(m): 8:41am On Sep 02, 2016
Algolla:
We are MMM and MMM is the commuinity, I don't really know why making issues out of this, if no special interest or are you saying we shouldn't be financially free. Please we all know the risk involve and we know how to mitigate them just sit and look at us from far.
Its no body business to warn or tell us what we know.........MMM is bridging the Gap between the rich and the poor seriously and together we change Nigeria and the world


https://www.nairaland.com/3324169/mmm-members-providing-needy#49001920
Seriously some people are spending their entire time taking panadol for someone else headache
Re: How The Current MMM Will Likely End - As a Scam by ziego(m): 8:41am On Sep 02, 2016
Bsideboi:
Check out meridian's life support foundation call: 07034312400

Multi level marketing

Worst business

1 Like 1 Share

Re: How The Current MMM Will Likely End - As a Scam by noirsangre(m): 8:43am On Sep 02, 2016
Do people even research anything before investing? https://en.m.wikipedia.org/wiki/MMM_(Ponzi_scheme_company)
Re: How The Current MMM Will Likely End - As a Scam by athorello(m): 8:44am On Sep 02, 2016
If the system finally crashes only greedy ones will lose big time. As far as I'm concerned Nigerians of various works are on the system (oil workers, business men, etc). You cycle out only once, as in, you PH, you GH. That's it. So unless the makers are Nigerians scammers, this system will survive this current online onslaught and stay for a longer time.
Money lenders (who may even lose thousands) and bankers make much interests from giving loans.
Re: How The Current MMM Will Likely End - As a Scam by ziego(m): 8:47am On Sep 02, 2016
majekdom2:
it has no central account but the individuals have got account.... I mean the owners. Have you ever heard of The word "CON MEN". How do the owners make money? I mean the aim of every business is to maximise profits. This is not a case of borrowing where there is an interest on what is borrowed.

1. How do facebook make money?
U only log in comment, like, post
Are u paying him?
Have u thought of that?
MMM has a platform in over 118 countries
Of which at least 50k members visit their site daily then tell me how many dollars that will generate?

2. MMM is managed by its participants trained in each country.
I have been trained as guider
I have a team I manage so do other participants to ensure safe, adequate and consistent sincerity in the community.

We are helping ourselves contributively we are not doing business

If u want to help Urself join the community
08039521412

I will guide u

3 Likes 1 Share

Re: How The Current MMM Will Likely End - As a Scam by HomeOfMe(f): 8:50am On Sep 02, 2016
ngoben:
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
That's true.

1 Like

Re: How The Current MMM Will Likely End - As a Scam by aminho(m): 8:50am On Sep 02, 2016
globalresource:


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

Re: How The Current MMM Will Likely End - As a Scam by tempest01(m): 8:51am On Sep 02, 2016
moendowed:


So when u decided to join did you provide and your are hoping to get help after 30days? If u did then u believe in the ideology of MMM but if u didn't then u are not as wise as u think u are cos if u were u didn't need to join to understudy the system.

I don't need help, im okay.

I am not saying you won't make money with MMM....what im saying is that it is inevitable they will close down at the peak. Don't be in the system when that happens. Or don't even take the risk at all.
Re: How The Current MMM Will Likely End - As a Scam by IFECONWAGOD: 8:52am On Sep 02, 2016
Snow5:
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

What I will tell you is that your conception of making money needs some renewal.
MMM IS PROVEN REALITY, so real and effective.
MMM is fairer than any financial system in this world.
We help ourselves, you haters should mind your own business..

You said how can someone do nothing and earn 30%?
If it is by strength, a few persons in this country would have been the richest persons. The Banks receive multiple deposits that is up-to 200% the withdrawals made by the customers at a given period.

So does the MMM community, both old and new members partake in providing mutual financial assistance benevolently. Those that have donated previously are legible to receive donations, and from the excess requests made by other members to provide financial assistance, the 30% is given as a reward of giving to the recipients.
The MMM website is designed to help us circulate our money among ourselves, neither Mr Sergey Mavrodi nor anyone else has access to our money.

All this media attacks will not amountto anything, it can't pull down MMM Nigeria coz we know what we are into.

Even Banks are now interested in the 30% help given in MMM.
So, my brother, money is meant for circulation and the world financial system favours only the few rich people at the detriment of the myraid poor people whose deposits constitute about 70% of the whole cash inflow to the Bank moneybox.
MMM was created so people like minds will have a fair system to circulate their money and get empowered to access financial freedom.
MMM IS MY PROVEN REALITY.
You can call or chat me on whatsapp or telegram 0703600665 to know more about MMM.

God has given me a gift to bless the youths of my generation financially and make them understand that their fate is not in the hands of the economy of Nigeria but of God who orders the paths of His favorites to thread the pleasant places.

My friends are happy and grateful to God for making me introduce MMM to them.

You can still join us today

1 Like 1 Share

Re: How The Current MMM Will Likely End - As a Scam by aminho(m): 8:53am On Sep 02, 2016
Brightgem:
I support the two sides of MMM those who say its working and those warning it will crash. But u here, u sound like a LIE! Who dash u 500k to go and sink in MMM
madam do You think everyone is as hopeless as you are?that 500k i lost is my hazard allowance for 2 months and if you are doubting me i can put you on allowance for the rest of the year

1 Like 1 Share

Re: How The Current MMM Will Likely End - As a Scam by iamosamede55: 8:53am On Sep 02, 2016
People are quick to call schemes like helping hands fraud. Yes there is a huge possibility of you losing, if u r nt interested or have doubts simply don't join. Life in itself is a risk. When banks cart away with your money? Insurance don't pay you? Dstv charges you when the weather is bad and u r nt watching? Telecoms zapping your data at an unusual rate? Are these not scam?
A friend got a land from a real estate company, when he wanted to sell, they told him dat he must pay a transfer fee of 10% of the current value of the land ( this terms and conditions wasn't stated whenhe was buying o) nw d real estate valued d land @1.5m but he is selling for 1m. So he has to pay 150k.. nw tell me, is dat not fraud? So if they say d land is valued at 3m nko?
Re: How The Current MMM Will Likely End - As a Scam by BinaryRocks: 8:58am On Sep 02, 2016
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.
YES OOOooo

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