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Nairaland Forum / Nairaland / General / Investment / BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters (72295 Views)
BREAKING: MMM Nigeria Begins Payment Of Outstanding Mavro / MMM Nigeria Freezes Out Mavrodians / BREAKING: MMM Postpones January 14 Date Indefinitely (2) (3) (4)
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Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by wristbangle: 7:22am On Dec 13, 2016 |
Tosyne2much, when u tell them, people no listen oo! ![]() ![]() 4 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by FreeGlobe(f): 7:22am On Dec 13, 2016 |
QuotaSystem:Your Buhari succeeded in driving helpless Nigerians into MMM and if MMM crashes all participants should hold Buhari responsible. MMM, ultimate cycler and other ponzi schemes which should ordinary not be a mainstream income source became a mainstream source for Nigerians despite buhari spending over 10 trillion naira in one year without any trace and you have the guts to criticize helpless Nigerians for investing in MMM? If you didnt condemn Nigerians for voting in an economic illiterate and total dullard you have no write to criticize or educate them about ponzi schemes.. MMM is one of the wonders of change 12 Likes
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Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by dafuturis(m): 7:23am On Dec 13, 2016 |
*Truth* When Christmas draws near, people move out all their money, have it all spent and come back in January to suffer, but here comes MMM, nicest platform I have seen, It automatically paused withdrawals to resume on the January 12, this is to keep safe the financial health of it's participants not allowing them spend all they have during the Yuletide and come back in January to suffer recession. Please welcome it with grateful heart, Continue your normal PH if you still have free monies! And those of us already PHed, lets welcome the pause and enjoy it tomorrow. Remember, the stability of MMM depends on the stability of our hearts to changes, lets remain positive and optimistic to the change Long live MMM-Nigeria 11 Likes 1 Share |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by Splinz(m): 7:23am On Dec 13, 2016 |
jane122:I need 20$ worth of bitcoin. |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by BeeBeeOoh(m): 7:23am On Dec 13, 2016 |
dunkem21:U Neva talk wetin dey hungry you ![]() |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by lavenderjade(m): 7:24am On Dec 13, 2016 |
Splinz: she will scam you ooo... she has scammed some guys o.. check the date she registered on nairaland 2 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by GAZZUZZ(m): 7:26am On Dec 13, 2016 |
MrMcJay: thanks for making me laugh ![]() 2 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by lavenderjade(m): 7:27am On Dec 13, 2016 |
dafuturis: u dey mad o 9 Likes 1 Share |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by Splinz(m): 7:30am On Dec 13, 2016 |
lavenderjade:Thanks bro. I'm not without knowledge of their wicked activities! 2 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by labbyk(m): 7:32am On Dec 13, 2016 |
akoko11: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 .[citation needed ] 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. [citation needed ] 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.[ citation needed ] 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. 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). [citation needed ] 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. [citation needed ] 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 . Stock Generation 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.[ citation needed ] South Africa 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". [3] The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank .[4] 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. [5] and has started up again late November 2016. Nigeria In November 2015, MMM launched a website targeting the Nigerian audience, also claiming a "30% per month" return including other acquirable bonuses. [6] The entity was self-described as a "mutual aid fund where ordinary people help each other." [6] 2.4 million people had signed up by late 2016, with the country's unemployed as primary targets. [6] Nigeria's Economic and Financial Crimes Commission has confirmed that they are monitoring the scheme. [7] China In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered) 3 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by Godtaye: 7:32am On Dec 13, 2016 |
evansjeff: is it still your money I was not scammed tho 2016 was a hit cos of mmm 1 Like 1 Share |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by onatisi(m): 7:32am On Dec 13, 2016 |
Baba Ijebu and sport betting will take over again. I love Nigerians 2 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by KnightOfLaif: 7:32am On Dec 13, 2016 |
As MMM don decide to freeze accounts, way still dey for this Xmas. Ultimate cycler is the way. We are regrouping ourselves. Join our whatsapp group for more info. Limited space. Add up. 08171782262 |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by labbyk(m): 7:33am On Dec 13, 2016 |
Trut: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 .[citation needed ] 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. [citation needed ] 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.[ citation needed ] 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. 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). [citation needed ] 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. [citation needed ] 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 . Stock Generation 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.[ citation needed ] South Africa 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". [3] The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank .[4] 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. [5] and has started up again late November 2016. Nigeria In November 2015, MMM launched a website targeting the Nigerian audience, also claiming a "30% per month" return including other acquirable bonuses. [6] The entity was self-described as a "mutual aid fund where ordinary people help each other." [6] 2.4 million people had signed up by late 2016, with the country's unemployed as primary targets. [6] Nigeria's Economic and Financial Crimes Commission has confirmed that they are monitoring the scheme. [7] China In January 2016 the Chinese government banned MMM on the grounds that it is a pyramid scheme, (Ponzi scheme), and it is not registered in the country (and as a fraudulent scheme cannot be registered) |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by dunkem21(m): 7:36am On Dec 13, 2016 |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by temmym4(m): 7:39am On Dec 13, 2016 |
#COPIED Good Morning Friends, We all woke up this morning to receive the news of “1 month freezing of all confirmed marvos”. This is quite unfortunate but a neccesary measure. However, this piece is my due research and opinion. What does “freezing of unconfirmed marvos” mean? It means you won’t be allowed to GH for the period stipulated. However we can still PH. What is the implication of this? It means that when we PH at this time we wont be merged because there will be no one Ghing. However, your will be credited with the resultant marvos of your PH. That is why you can see how much marvo you have but can’t GH it now. Why the freezing? The freezing is necessary for the sustainabilty of the system. In the previous meetings Mr Andrew say SUSTAINABILTY AND STABILITY of the system is the focus in 2017. So to achieve these goals, it is pertinent that the system is protected. It is a known fact that most participants PHed targeting the festive period to GH. Even me too did same, infact I PHed purposely to prepare for my wife’s delivery and the naming but in the face of this situation am still stead fast. If we all GH heavily this festive season, we wont meet an MMM that is paying us in 2017 because there will be more GH than PH as participants wont PH more this time (therefore pause mode will be activated). Also, the issues of fake POP, delay in response from CRO and moratoruim issue need time to be properly tackled. As all guiders know Mr Andrew said programmers are working to make these issues handled in 24hrs, which is good. VARIOUS OPINIONS …. 1. Some people are of the opinion that we should have been informed but I say NO…. If we were informed the system will crash immediately because no matter how much Admin explains people will rush to GH and then stop PHing. This scenerio will crash MMM this Dec. 2. Some people say Guiders should have been the ones alone to be frozen. While this is a very good idea, I still wont agree…. The ratio of guiders to participant is 1:100. The number of guiders is less to the whole community. 1 guider manages a minimum of 10 people. The PH of these 10 people in most cases is more than what the guider will PH. In time of GH the system will pay the 10 DLs more than the guider. Eg. To pay the guider the system will give him 30% of his marvos + 100% (referral bonus) = 130% But if the system is to pay the DLs it will be 30% x 10 =300% Now which is bigger. However, this might not be a perfect scenerio but it will give us an insight into the issue at hand. Also, there is no way particpants should be frozen and then leave the guiders. No way! 3. Some people are of the opinion that it should have been next week….. I wont say I understand how you feel but this option is risky. If you look at the time frame of the freezing it about 2 weeks to the end of the year and 2 weeks to the beginnig of next week. They are deliberately avoiding the rush hour GHing for the festive season and rush hour GHing from lack of money in January. So the time farme is to play safe. 4. Some people say now it is true MMM has gone on Holiday Pause Mode…..This is not true. The rumour earlier about pause mode was talking about 24-26th December because of bank holidays. This is not an Holiday Pause Mode. So please lets stop that school of thought. 5. Some people are of the opinion that with this new measure a lot of people will not PH again…..Maybe and Maybe not. Have we ever thought why the additional 20% was given as bonus? It means whoever believe in this community even in this time will get 50% growth to His/Her PH. This also tells us that this plan has been there before now, it was not taken impromtu, it was carefully planned. So I PH 1 million now by Jan 14 2017, I will GH 1.5million. That’s the plan. WHAT ARE OUR RESPONSIBILTIES AT THIS TIME Our most important responsibility is to avoid fear and kill panic. The more we fear the more the panic will rise. Now is the time when our knowledge of MMM will be needed both guiders and participants alike. Now is the time when negative publications should not move us no matter who is saying what or who is writing what. Now is the time for guiders most especially to enlighten their DLs and attend to their fears at all times. FINAL WORDS We need to know that the media can’t break us if we have one voice. As a trained journalist that I am, we were taught that “bad news is good news” so I am to certain that bloggers will feed on this quickly and with vigor. But we also need to stand with courage, reseilence and believe that financial freedom is our end goal. Also, I am not in anybody’s shoe to know how this will affect any one but I will only advocate that we be patient and see the end goal and not the now. MMM all the way #ibelieveinthiscourse #thisisnotpausemode #panicisakiller #wewilllaughatlast Together we change the world Guider Michael Okunoye 11 Likes 2 Shares |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by lavenderjade(m): 7:39am On Dec 13, 2016 |
Splinz: you welkm |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by lavenderjade(m): 7:40am On Dec 13, 2016 |
temmym4: mmm and their stupid guiders 3 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by Nobody: 7:40am On Dec 13, 2016 |
Good Morning Friends, We all woke up this morning to receive the news of “1 month freezing of all confirmed marvos”. This is quite unfortunate but a neccesary measure. However, this piece is my due research and opinion. What does “freezing of unconfirmed marvos” mean? It means you won’t be allowed to GH for the period stipulated. However we can still PH. What is the implication of this? It means that when we PH at this time we wont be merged because there will be no one Ghing. However, your will be credited with the resultant marvos of your PH. That is why you can see how much marvo you have but can’t GH it now. Why the freezing? The freezing is necessary for the sustainabilty of the system. In the previous meetings Mr Andrew say SUSTAINABILTY AND STABILITY of the system is the focus in 2017. So to achieve these goals, it is pertinent that the system is protected. It is a known fact that most participants PHed targeting the festive period to GH. Even me too did same, infact I PHed purposely to prepare for my wife’s delivery and the naming but in the face of this situation am still stead fast. If we all GH heavily this festive season, we wont meet an MMM that is paying us in 2017 because there will be more GH than PH as participants wont PH more this time (therefore pause mode will be activated). Also, the issues of fake POP, delay in response from CRO and moratoruim issue need time to be properly tackled. As all guiders know Mr Andrew said programmers are working to make these issues handled in 24hrs, which is good. VARIOUS OPINIONS …. 1. Some people are of the opinion that we should have been informed but I say NO…. If we were informed the system will crash immediately because no matter how much Admin explains people will rush to GH and then stop PHing. This scenerio will crash MMM this Dec. 2. Some people say Guiders should have been the ones alone to be frozen. While this is a very good idea, I still wont agree…. The ratio of guiders to participant is 1:100. The number of guiders is less to the whole community. 1 guider manages a minimum of 10 people. The PH of these 10 people in most cases is more than what the guider will PH. In time of GH the system will pay the 10 DLs more than the guider. Eg. To pay the guider the system will give him 30% of his marvos + 100% (referral bonus) = 130% But if the system is to pay the DLs it will be 30% x 10 =300% Now which is bigger. However, this might not be a perfect scenerio but it will give us an insight into the issue at hand. Also, there is no way particpants should be frozen and then leave the guiders. No way! 3. Some people are of the opinion that it should have been next week….. I wont say I understand how you feel but this option is risky. If you look at the time frame of the freezing it about 2 weeks to the end of the year and 2 weeks to the beginnig of next week. They are deliberately avoiding the rush hour GHing for the festive season and rush hour GHing from lack of money in January. So the time farme is to play safe. 4. Some people say now it is true MMM has gone on Holiday Pause Mode…..This is not true. The rumour earlier about pause mode was talking about 24-26th December because of bank holidays. This is not an Holiday Pause Mode. So please lets stop that school of thought. 5. Some people are of the opinion that with this new measure a lot of people will not PH again…..Maybe and Maybe not. Have we ever thought why the additional 20% was given as bonus? It means whoever believe in this community even in this time will get 50% growth to His/Her PH. This also tells us that this plan has been there before now, it was not taken impromtu, it was carefully planned. So I PH 1 million now by Jan 14 2017, I will GH 1.5million. That’s the plan. WHAT ARE OUR RESPONSIBILTIES AT THIS TIME Our most important responsibility is to avoid fear and kill panic. The more we fear the more the panic will rise. Now is the time when our knowledge of MMM will be needed both guiders and participants alike. Now is the time when negative publications should not move us no matter who is saying what or who is writing what. Now is the time for guiders most especially to enlighten their DLs and attend to their fears at all times. FINAL WORDS We need to know that the media can’t break us if we have one voice. As a trained journalist that I am, we were taught that “bad news is good news” so I am to certain that bloggers will feed on this quickly and with vigor. But we also need to stand with courage, reseilence and believe that financial freedom is our end goal. Also, I am not in anybody’s shoe to know how this will affect any one but I will only advocate that we be patient and see the end goal and not the now. MMM all the way #ibelieveinthiscourse #thisisnotpausemode #panicisakiller #wewilllaughatlast Together we change the world Guider Michael Okunoye |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by Nobody: 7:41am On Dec 13, 2016 |
Splinz:whatapp me 08084022576 |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by rusher14: 7:41am On Dec 13, 2016 |
FreeGlobe: Nonsense. The usual need to find a scapegoat rather than own up for one's stupidity. There have always been ponzi schemes and there has never been a short supply of suckers. As usual our people are uninventive, parochial and mentally lazy making them ideal clients for such contrivances. Everyone who said anything about the danger of investing was called anything from coward to a hater. The government was given all kinds of epithets when they warned the public against this unknown means of generating wealth without actually providing a service. Don't worry, in a few more weeks you can take a voodoo doll of Buhari' to your local shrine. Observe who gets hurt when you stick your needles through it. 10 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by Wristler: 7:45am On Dec 13, 2016 |
MrMcJay: ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() ![]() 1 Like |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by tosyne2much(m): 7:49am On Dec 13, 2016 |
Recently, to speak against God is safer than speak against MMM. I once wrote an article against MMM and people came for my head It wasn't that I discouraged people or something, I was only telling them to be careful from this unhealthy way of making money 5 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by Hiploko(m): 7:53am On Dec 13, 2016 |
Crash ko, helmet ni.... Even banks seize deposits this period in the name of 'year end deposit drive'..... Good move MMM.... But please use this puase period to check the issues of fake POP... It will kill faster than all these baseless rumors |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by xykms101: 7:54am On Dec 13, 2016 |
dafuturis: Consolation word .... I will advice u to place your hope on 50/50 ... going by the record , the ponzi scheme might have crashed. 1 Like |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by Leopantro: 7:54am On Dec 13, 2016 |
let me explain something 1. by 13th January, there will be few PH. due to the pause a lot of people will be skeptical to PH but would rather watch to see if MMM will still function. 2. there will be plenty GH; from those frozen and the immature that will be mature at that time. ergo, GH will be more than PH. 3. there will be a lot of blocking at that time. many will be reluctantly to PH following the Christmas and one month pause. also, January is a slow month of no money until salary is paid. 4 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by djlaqua91(m): 7:57am On Dec 13, 2016 |
Mavrodi you have failed this city. 8 Likes
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Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by 20dollarblogs: 7:58am On Dec 13, 2016 |
Hmmm...na small small snail dey enter shell... MrMcJay: 1 Like |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by xykms101: 8:03am On Dec 13, 2016 |
Leopantro: Well said. 1 Like |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by eightsin(m): 8:03am On Dec 13, 2016 |
MrMcJay: You are mouthed 2 Likes |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by Wristler: 8:04am On Dec 13, 2016 |
Fantastic2m:Nigga, you like Tony Montana... .you bad ![]() ![]() ![]() ![]() |
Re: BREAKING: MMM Nigeria Crashes, Freezes Participants’ Money - Breezereporters by AskProf: 8:06am On Dec 13, 2016 |
jane122:
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