Tears As MMM Zimbabwe Crashes Millions lost
The popular money making machine known as MMM has quite failed again in Zimbabwe as many lost millions.
We can recall earlier I posted about The CBN warning Nigerians that the system is not real and its not safe.
Yet so many people kept on pursing there goal in MMM
Zimbabweans were also warned by there central bank
Zimbabweans have in the past months been joining the online investment scheme in droves in a bid “to get rich quickly”. The Reserve Bank of Zimbabwe warned people that the scheme was fraudulent and there was no legal recourse in the event they lost their money.
The central bank said MMM, which advertises its operations through a website and recruiting agents, was not a registered or regulated entity. EcoCash yesterday said:
“We have noted that some of these pyramid schemes are allegedly advertising in a manner that suggests that the Ecocash facility is a medium for prospective members to deposit their money. This is not correct.
“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.”
Currently, the scheme is in Nigeria and it is called MMM – Federal Republic of Nigeria. Lots of Nigerians are on the scheme and the scheme actually works (just like how it was working well at first in Zimbabwe). MMM Nigeria, is a Ponzi scheme that originated in Russia that has now set up in Nigeria. Wikipedia says the company was involved in one of the biggest Ponzi schemes in the 1990s. It was estimated that thousands of people lost up to $10 billion dollars. Well, a lot of people think the scheme is legit and not a scam but the history of the company says the opposite. Only time will tell.
So I advice each and every MMM member, kindly know your stand should In case.
Air your views below
Do you think MMM Nigeria would crash? Just like it happened in other countries?
We can recall earlier I posted about The CBN warning Nigerians that the system is not real and its not safe.
Yet so many people kept on pursing there goal in MMM
Zimbabweans were also warned by there central bank
Zimbabweans have in the past months been joining the online investment scheme in droves in a bid “to get rich quickly”. The Reserve Bank of Zimbabwe warned people that the scheme was fraudulent and there was no legal recourse in the event they lost their money.
The central bank said MMM, which advertises its operations through a website and recruiting agents, was not a registered or regulated entity. EcoCash yesterday said:
“We have noted that some of these pyramid schemes are allegedly advertising in a manner that suggests that the Ecocash facility is a medium for prospective members to deposit their money. This is not correct.
“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.”
Currently, the scheme is in Nigeria and it is called MMM – Federal Republic of Nigeria. Lots of Nigerians are on the scheme and the scheme actually works (just like how it was working well at first in Zimbabwe). MMM Nigeria, is a Ponzi scheme that originated in Russia that has now set up in Nigeria. Wikipedia says the company was involved in one of the biggest Ponzi schemes in the 1990s. It was estimated that thousands of people lost up to $10 billion dollars. Well, a lot of people think the scheme is legit and not a scam but the history of the company says the opposite. Only time will tell.
So I advice each and every MMM member, kindly know your stand should In case.
Air your views below
Do you think MMM Nigeria would crash? Just like it happened in other countries?
Kingsweb Solution
ReplyDeleteFor now MMM Nigeria is a legit trade but no body can tell what will or may transpire in the future and as a result I have advised every mmm user including myself to invest but little on MMM and always withdraw your cash at the end of the month removing your income and leaving whatever you want to renew your contract
Do not leave you millions on mmm thinking you will get more gain .yes you may but Think twice and remember nothing last forever .
for the government workers , contractors and other company managers who instead of paying there workers on time go on delaying payment and investing the money on Mmm I pray God will help you...because if it crash I swear you go hand yourself lol.
For student who manage to get there school fees on time from parents and investing it on mmm with the thought of getting pocket money before the payment date ...sorry for you because carry over might visit you if any gbege
So be careful and invest like a wise man just like me
put e.g 10k get your gain put in again remove your gain just like that continuously!!!!!
Well said. He who eats with the devil uses a long spoon.
ReplyDelete