WHAT IS MMM?
According to Wikipedia, MMM is a Russian company that perpetrated one of the largest ponzi scheme of all time. It was established by Sergei Mavrodi, his brother Vyacheslav Mavrodi and, Olga Melnikova. The name of the company was taken from the first letter’s of the founders surnames.
The Ponzi scheme was created in 1994 and it grew very rapidly.
MMM is a community of people providing each other financial help on the principle of gratuitousness, reciprocity and benevolence.
In MMM you don’t have to make contracts or pledge your property. In MMM there are no lenders and no debtors. Everything is very simple: one participant asks for help — another one helps.
The only thing that MMM demands from its participants is to be honest and kind to each other. You ask for financial help when you need it, you give financial help when you are able to do it.
VERY IMPORTANT!
There is no сentral account, where all the System money flows to (and where it can be easily stolen from :-)). All the money is only on the banking accounts of the participants themselves! On a lot of thousand and million private accounts. Participants transfer to each other directly, without intermediaries! (What are they for? :-)) In fact, MMM only regulates the process — nothing more.
So the System completely belongs to people. No kidding! It is a real mutual aid fund where ordinary people help each other.
There is no сentral account, where all the System money flows to (and where it can be easily stolen from :-)). All the money is only on the banking accounts of the participants themselves! On a lot of thousand and million private accounts. Participants transfer to each other directly, without intermediaries! (What are they for? :-)) In fact, MMM only regulates the process — nothing more.
So the System completely belongs to people. No kidding! It is a real mutual aid fund where ordinary people help each other.
WHAT IS MMM NIGERIA?
MMM Nigeria is the Nigerian arm of this infamous Ponzi scheme. Investors are offered 30% Return on Investment (ROI) in a month by offering help.
HOW DOES IT WORK?
Interested investors are required to sign up on the MMM Nigeria website and submit their bank details. After which they’d be offered two options of whether to “offer help” or “get help”. Investors who offer this help are expected to get 30% profit + initial investment after 30 days. There is a referral system which credits user who invite others a particular percent of their transaction.
IS MMM NIGERIA A SCAM?
MMM Nigeria is a Ponzi scheme which is categorised under fraudulent business types. In plain financial terms it offers no legitimate backing and the money pool is controlled by the owner of the scheme. Sounds like a scam. Risky sturvs.
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