MMM-Cooperation

MMM Ponzi Scheme Is Back – Promises 50 %

A friend called me to tell me about the hottest investment in town that promises 50 percent return on investment within 30 days . A little inquiry into this investment revealed that it was another ponzi scam, in which investors are lured into committing their fund, with the hope of being among the early benefiters of the system before it crash.

I pondered on why i have to be super gullible to commit my hard-earned cash into a fraudulent system, with the possibility of loosing my money too.

Understanding Ponzi scheme

Ponzi is an investment fraud in which clients are promised a large profit at little to no risk. this scheme can only survive for a short period of time by generating returns for older investors by recruiting new investors, who are promised a large and mouth watering return on investment within a short period of time at little to no risk.

By Mervyn K. Lewis; Abstract: A Ponzi scheme is one of the simplest, albeit effective, financial frauds to engineer, and new schemes keep coming

Between 2016-2017, Africa was hit by the tsunami of a major fraudulent ponzi scheme called MMM. MMM which described itself as a “mavrodi mundial moneybox” had members from over 100 countries, and promised it’s investors 30% monthly interest rates with alot of exciting add-on benefits. This entity described itself as a mutual aid fund, where ordinary people help each other by ”Getting Help” and providing help” . This ideology was used to recruit over 3 million people in Nigeria alone until it crashed in december 2019, and left alot of people in debt that that may never be able to pay back.

MMM caused an increase in suicidal rate in Africa, after a lot of people lost borrowed monies and their properties into the fraudulent scheme.

It’s been in the news that MMM is back and now promising 50 percent return on investment  After the initial MMM crash that saw a lot of people in Nigeria and a few other countries, The scheme has rebranded by calling itself MMM Cooperation , saying it returned to continue the legacy of its founder, late Sergey Mavrodi

MMM cooperation  recruiters who call themselves guiders are now recruiting gullible investors into the freshly launched Maverodi mundial  moneybox scheme with the option of earning referral bonus for whoever wishes to refer and recruit more investors for the scheme.

 

 

As seen on the website :

 

 

Like sunrise in the morning, MMM Cooperation set the pace on the 22nd of January 2019 all over the world. From negligence by many to fear of the unknown by prospective participants at the beginning; we are where we are today being most populous platform all over the world with 6 MILLION participants all in the space of 4months.

 

So far, we have been able to introduce some key concepts for the sustainability of the system. Some of which are: the Introduction of 10% down payment. Which helped in achieving prompt payment of 90% and a reduction of fake PH in the system.

“We started with an automatic upgrade of guiders with requirements attached. And it has helped in having a strong foundation for the community,” the statement on its website reads.

 

Strict warning from MMM to participants

Hiding under terms and conditions, the system warned Nigerians and other participants that “there are no guarantees and promises! Neither explicit nor implicit.

There are no rules. In principle! The only rule is no rules. At all! Even if you follow all of the instructions, you still may “lose”. “Win” might not be paid.

“Without any reasons or explanations,” the system said in a strict warning to participants across the world.”

 

 

One of their advertisement post read ” Great News, MMM is back and better”

2 Comments

  • Bamphicile Dlamini says:

    I want to join MMM

  • vurtilopmer says:

    Whats up this is somewhat of off topic but I was wondering if blogs use WYSIWYG editors or if you have to manually code with HTML. I’m starting a blog soon but have no coding know-how so I wanted to get guidance from someone with experience. Any help would be greatly appreciated!

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