Less than three weeks after Zimbabwe’s
National Reserve bank warned citizens to stay
away from MMM, the scheme might be showing
signs of imminent collapse. MMM Zimbabwe had
in some few weeks ago stopped all withdrawals
and allowed deposits.

As reported by BehindMLM. In an effort to stave
off an inevitable collapse, MMM Global’s
Zimbabwe chapter froze investor
withdrawals. Deposits were still permitted, with
the intention being to collect money without
withdrawals draining the system and unfreeze
existing accounts on September 15th.

That plan has now been cancelled, with MMM
Global Zimbabwe prematurely unfreezing
investor withdrawals.

But unknowing to MMM members, the scheme is
ripping them off. Here is the catch as reported
by BehindMLM:

While affiliates deposit real funds into MMM
Global, the company itself pays out Ponzi points
called “Mavros”. Mavros must be exchanged for
real money, subject to availability of new
investment deposits being made.

MMM Eastern Africa, who run the MMM Global
Zimbabwean chapter, have reduced the Mavro
exchange rate from 1 Mavro to $1 to 5 Mavros
to $1.

This is effectively an 80% reduction in the dollar
value of existing invested funds and the Ponzi
ROI attached to them.

For example, whereas previously an MMM
Eastern Africa affiliate who invested $1 was
promised $2 within 30 days, now they’ll receive
just 20 cents.

Affiliates who had been hoarding Mavros in
their back office will now only be able to claim
20% of what they were previously able to
request in withdrawals.

This change has likely been implemented due to
a lack of new withdrawals, leaving MMM Eastern
Africa unable to meet it’s 100% ROI obligations
come September 15th.

By reducing withdrawal rates by 80%, it now
takes longer for an affiliate to “break even”. But
after five months the problem of paying
affiliates more than has been invested, known
as a “Ponzi liability”, persists.

This will inevitably still bring about a collapse.
MMM Eastern Africa have just put it off a bit.
That’s of course assuming affiliates don’t riot,
stop promoting the scheme altogether and
demand their money back.

MMM members in Zimbabwe have already
started counting their losses. Mr Tinashe Muza
of Harare told iharare.co.zw that “All along
things were moving in the right direction and we
now have nowhere to claim our investments.”

“When we started putting our funds in the
scheme one could get assistance within seven
days but things later changed to 14 days and
when we were shut out the waiting period was
21 days. What it simply means is that the
number of people in need of help has
outnumbered the number of people joining.
Right now we have nowhere to get our money
which we invested.”

Another victim, Mrs Rosemary Mawonde said:
“We never thought the scheme would end this
way as we believed that by using EcoCash to do
the transactions, things were in order. I am
surprised that EcoCash is also distancing itself
from the scheme and it is clear that I will never
recover the USD300 that I invested.”

EcoCash, the mobile money operator that
allowed its service to be used by MMM members
for their transactions has distanced itself from
the matter saying:

“We advise our valued customers and all
stakeholders that Ecocash is a licensed mobile
payment platform that enables customers to
make financial transactions such as sending
money, buying prepaid airtime as well as paying
for goods and services within the confines of the
law of Zimbabwe. EcoCash promotes safe and
legal transactions but will not be held liable for
any losses arising from the use of EcoCash to
engage in illegal activities such as Ponzi
schemes.”

Last week, Nigeria’s Securities and Exchange
Commission SEC had warned all Nigerians to
stay away from MMM. According to estimates,
there over 509,021 Nigerians who are members
of the Ponzi Scheme as at the time of writing
this report.

No one knows when the scheme will start
collapsing just like MMM Zimbabwe. However, in
May, MMM South Africa had collapse with
countless citizens losing millions in invested
funds.

egopersonified:
op, bet why? these people have being warned enough, allow them enjoy their business. Found out today that my sisters are all involved, I didn't just bother to preach to them, if you have stacked an amount you won't commit suicide over and have gotten profit above that amount, then it's all good.

I am still wondering why they didn't ask me if I was interested sha. Is that how they will discover one treasure island filled with gold and they won't tell me? Very very disappointed infact

egopersonified:
op, bet why? these people have being warned enough, allow them enjoy their business. Found out today that my sisters are all involved, I didn't just bother to preach to them, if you have stacked an amount you won't commit suicide over and have gotten profit above that amount, then it's all good.

I am still wondering why they didn't ask me if I was interested sha. Is that how they will discover one treasure island filled with gold and they won't tell me? Very very disappointed infact

amordiguys:
My frd...u simply dont know how this system works...Y not make ur findings before commenting....

egopersonified:
op, bet why? these people have being warned enough, allow them enjoy their business. Found out today that my sisters are all involved, I didn't just bother to preach to them, if you have stacked an amount you won't commit suicide over and have gotten profit above that amount, then it's all good.

I am still wondering why they didn't ask me if I was interested sha. Is that how they will discover one treasure island filled with gold and they won't tell me? Very very disappointed infact

getbusy2:
Just a Ponzi scheme.
Those who invest early get back their money with profits. They are happy.
You who join last may not even have a bone.

Invest only what you are ready to loose.

egopersonified:
op, bet why? these people have being warned enough, allow them enjoy their business. Found out today that my sisters are all involved, I didn't just bother to preach to them, if you have stacked an amount you won't commit suicide over and have gotten profit above that amount, then it's all good.

I am still wondering why they didn't ask me if I was interested sha. Is that how they will discover one treasure island filled with gold and they won't tell me? Very very disappointed infact

ArchitGreen:
next stop is Nigeria.... investors beware

jmax22:
Good day Mavrodians.
If anyone tells u MMM has collapsed in SA and Zimbabwe.
Don't argue with them. No story. Just give dem these links to see whether MMM is alive or not.

SA: http://rsa-mmm.co/testimonials/

ZIMBABWE: http://ea-/testimonials/

NIG: http:///testimonials