I must be one of the first 100 people to know about MMM Nigeria when it came. I am certainly one of the first 10 people in Ibadan to know because of my presence on the net as a business blogger.
I never promoted it even as I know many colleagues who promoted the scheme.
Many asked for my advice then and told them frankly that it won’t last because it is a ponzi scheme and no ponzi scheme lasts not even one.
Yes, some people, especially the early ones will make money but those who come late apparently on the fake success of earlier birds will suffer huge losses.
With these, many still went ahead to invest in MMM, saying they would have reaped their investment before the late arrival suffer losses. What selfishness?
You introduce your brothers, sisters, wife, husband, parents, teachers, customers to a scheme you know will fail simply because of your 10% commission.
Now, MMM has resurrected since yesterday and there is booze in town that MMM investors have won and that MMM Nigeria has come to stay.
This is the reason I am writing this.
MMM Nigeria is a ponzi scheme and will surely crash. It is as simple as that. What the promoters are selling is hope, upon hope and that is what fraudsters sell. They exploit your greed and give you hopeless hope.
Hear the ex jailbird promoter. “Small investors will be paid first and remember we have warned you repeatedly to invest only money you can spare” MMM hopeful should go and ask South Africans. They should find out why China banned it and why the promoter was jailed in Russia.
I say it again, cut your loss. Those who have lost money should not invest again and should not be carried away when a few are matched or helped or what do they call it. This will not just wash.
But if you have money to waste go ahead.
Should you want more ponzi scheme, here they are
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