Despite
several articles written about the dangers of the Russian Ponzi scheme MMM
Nigeria, thousands of Nigerians are still hooked on it.
To
the doubters who don't believe that MMM is a scam, the Central Bank of Nigeria
(CBN) has finally issued a warning about the Ponzi scheme.
The
head of the Consumer Protection Department of the CBN, Suleja Kassim warned
Nigerians not to invest their hard earned money in the scheme during a
mentoring program for students.
"We
have heard about the activities of MMM. I want to warn you against it because
they are wonder banks that are not regulated. Desist from their activities
because they are fraudulent" he stated.
MMM,
which has been banned in China and Russia has seen Nigerians falling head over
heels for it. On Sunday, October 30, 2016, MMM was advertised in a Redeemed
Christian Church of God parish in Abuja.
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.
MMM
was founded by Sergei Mavrodi, Vyacheslav Mavrodi, and Olga Melnikova in 1989.
After a rapid growth, but it all came crashing in 1994 when the police shut
down MMM for tax evasion. At this point, the company owed its investors
$50m-$1.5bn. From the aftermath 50 of the MMM investors committed suicide.
15
years later, MMM established an office in South Africa. Using the same business
model the company claimed investors would get a 30% per month dividend via a
"social financial network." In January 2016, MMM landed in Nigeria.
SOURCE: Pulse News
SOURCE: Pulse News
that is y in nigeria the rich are always getting reacher the poor are poorer all those so called rich people don't want you to get rich anything thatt dey no will benefit you the poor they fight against it imaagine when you keep 20000 in the bank for 10month dey won't give you intrest of 1000 but mmm will give you intrest of 6000 a month mmm don't do business with your money but the banks does God punish CBN to hell with you all thief
ReplyDeletefuck you all CBN
ReplyDelete