Some months ago the SEC made a release stating that MMM is a fraud. Today CBN is in the news basically saying the same thing. Two weeks ago in Kenya I saw a similar statement in the dailies saying that MMM is now in Kenya and urging Kenyans not to fall for this new scam called MMM.
If you ask me what MMM is I'm not sure how exactly I would define it. It's some structure that sounds uncomfortably similar to a ponzy scheme. It urges you to put in money with promises that one month later you get your money back plus 30% of the amount you put in. You can either take your money and go or put it (your new pay and maybe more) back and get another 30% in another month. I think you also get some points for referrals...
It does sound like a ponzy scheme, yet those involved in it swear it's not. I know a number of blog readers and friends currently "investing" in MMM and they all swear that it's the real deal and they've gotten their monies plus 30% after a month. After the initial payout most of them put the money back in and even more, to get more money in one month.
So yes, many swear by it, they say it's no scam, they say they're getting their money plus 30% back with no issues, and they say MMM actually augments their income, some students say that's how they've been getting by. See some comments I saw on some nigerian blogs for instance;
I am an active participant of MMM Nigeria and i am telling you that MMM is not a scam in any way.Ve made hundreds of thousand in naira from MMM. MMM is very real and sweet. Beside y is it that pple want to swallow panadol for me.if MMM is a fraud make una let us be.long live MMM Niger
I am getting paid..it has changed the lives of countless jobless youths and sacked family men and women…it has removed shame from the face of families who had to remove their kids from school and put food on their table
Mmm Nigeria is a favour that comes to rescue us from Pmb madness, cbn is a ful time fraud of its own, the enemy of mmm Nigeria will die off before mmm, may your prayer to mmm comes back to you in hundred folds, up mmm
MMM is for real. Government and banks do not want them because they have created more opportunities round the world. Is it only in Nigeria? Please be wise and make for yourself. No fraud in it, I am a living testimony. Is for real and never a fraud. Let’s fight this course for our own good.
So how come all these financial institutions keep warning people that it's a scam?
Now tell us, which of my TTB Fam is investing in MMM? Share your experiences with us and tell us why you're so confident in it. For the others, what are you waiting for? 😂