What is MMM investment?
MMM Global (also known as МММ-2011 / МММ-2012) is a Ponzi scheme launched in 2011 by Sergei Mavrodi, with subsidiaries in up to 110 countries; it became widely popular in various African countries such as South Africa, Nigeria, Zimbabwe, Kenya and Ghana with some attributing this popularity to poverty and poor …
Is MMM still existing?
The scheme, known as Mavrodi Mundial Moneybox (MMM), now labelled itself MMM Cooperation, saying it returned to continue the legacy of its founder, late Sergey Mavrodi. “Like sunrise in the morning, MMM Cooperation set the pace on the 22nd of January 2019 all over the world.
Was MMM a registered company?
“Nigerians have fallen victims of scams over and over again and they still fell for MMM,” he said. “It wasn’t a company registered in Nigeria, with no Nigerian management staff. We will do our best to warn you but at the end of the day, what you do with your money is your decision.”
Is MMM back 2020?
The Famous MMM NIGERIA IS BACK IN MARCH 2020!|# ohub.
Who was the founder of MMM?
Sergei Mavrodi
Vyacheslav MavrodiOlga Melnikova
MMM/Founders
MMM was established in 1989 by Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken from the first letters of the three founders’ surnames.
What happened to the owner of MMM?
The founder of the infamous MMM financial pyramid schemes, Sergey Mavrodi, died of a heart attack on Monday, March 26, 2018, at the age of 62. The former deputy of the State Duma died in the Russian capital, Moscow, after he felt weakness and pain in the chest area.
Is pyramid scheme illegal in Nigeria?
Unarguably, Ponzi schemes operate without the license and authorization of the CBN and are thus, illegal. Ponzi schemes have also been recognized by the Nigerian Court as illegitimate and fraudulent thus in the case of Mekwunye v. Lotus Capital Ltd.
Is MMM back in South Africa?
After countries like South Africa and Nigeria attempted to shut them down in 2016, MMM paused their operations, only to return at the beginning of 2017 with a new marketing focus: Bitcoin. Today MMM offers bonuses and higher interest rates for contributions made in the cryptocurrency.
What MMM means?
MMM (pronounced similar to Ermm or Umm) is an interjection commonly used in English as an “Expression of Pleasure or Contentment.” In text-based messaging, MMM is often used to show pleasure at something that someone has just typed.
Is Mavrodi dead?
Deceased (1955–2018)
Sergei Mavrodi/Living or Deceased
What happened to MMM owner?
After duping millions of people, MMM founder has died of a heart attack in a Russian hospital.
Where is Sergey Mavrodi?
Death. Mavrodi died of heart problems at the age of 62 at a hospital in Moscow.
Is there a bank account for MMM Global?
“MMM is not a bank, has no central account, does not collect your MONEY; MMM is not an online business, an investment or a sales program. It is neither a company, nor an enterprise. There is no boss, no owner, no office space, no formal organization, no legal entity, no business, no investment or no other activities of any form.
What is the goal of the MMM Global?
This is a community of ordinary people, selflessly helping each other, a kind of the Global Fund of mutual aid. This is the first sprout of something new in the modern soulless and ruthless world of greed and hard cash. The goal here is not the money. The goal is to destroy the world’s unjust financial system.
When did the MMM Global Ponzi scheme start?
MMM Global (also known as МММ-2011 / МММ-2012) is a Ponzi scheme launched in 2011 by Sergei Mavrodi, with subsidiaries in up to 110 countries [citation needed]; it became widely popular in various African countries like South Africa, Nigeria, Zimbabwe, Kenya and Ghana with some attributing this popularity to poverty…
Is there a MMM Group in South Africa?
In 2015, MMM began operating in South Africa with the same business model as MMM-2011, claiming a “30% per month” return through a “social financial network”. The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank.