“That my circumstances will not, one day, change to erode or compromise either my Principle, Integrity or Belief.”

Bae spoke to me about a scheme a few months back, and without listening for too long, I got the gist and swiftly killed her presentation.

I know those schemes – PONZI. But this one is called, MMM

Without realizing how much fire this movement had caught on, I got to the office today and heard many testimonies. But the two most striking ones…

1) This is the most TRANSPARENT PONZI Scheme ever – (How PONZI and Transparent happen to find its way into the same sentence is very confusing.)

As a matter of fact, it is disingenuous. For, the transparency outlook makes the scheme appear reliable and accommodating

2) Someone ‘they’ know somewhere just bought a car after his “Provide Help/Get Help click click” matured – MMM Web App terminologies. An encouraging testimony.

Apparently, my office has been a MMM branch office for a while now. Testimonies only just started coming out. One need to see the motivated presentation and pep talk I was given, just to gain my buy-in.

I confess, it was convincing.You do not need to be a marketer to give a good sales pitch. People do know how to sell a product or any type of service, most especially when given the right motivation. My office team, were not any different. They were animated, trying to sell me MMM.

I was impressed. Attention to details; full product (MMM) knowledge; live presentation and question and answer.

Should I still be in doubt – case studies were highlighted, plus personal testimonies – clients, families and friends. The list was extensive.

So how does MMM work?

Sincerely speaking, understanding MMM’s business module is very vague on detail. But I will try – You see, you have a spare N100,000 you don’t mind throwing away (MMM clearly warns you on its website, not to use money you cannot lose – disingenuous, yes?).

You register your personal details on the MMM website and click on provide help to start ‘investment’. You then should wait for about 2 weeks to be paired with someone who needs a N100,000. All the while, the N100,000 you have committed to MMM still resides in your own personal account, so you have this safe feeling that your money is still with you and not lost. In addition, while this committed money is in your possession, you can log in to MMM website to see your virtual N100,000 accruing interest at 1% per day – remember about 14 days have gone, so you should expect to see something like N114,000 in your virtual MMM account

Soon as you are paired, you transfer the N100, 000 directly to the person you are paired with. Both of you, by now, have direct contact with each other and can relate on phone or any preferred means of communication. MMM is not involved in anyway.

Then you wait out the remaining days of the 30 days, to cash out. While waiting, you can always log into your MMM account to watch your interest continue to grow daily! At the end, you will be credit N130, 000 by someone (probably another maga) you are paired with.

Simple!

On the surface, this is how MMM works. No interaction with MMM providers. No service charge, aside penalties, if you default on your commitment.

Pastors now advertise MMM in churches – I think you should avoid these kinds of Pastors and Churches.

Workplaces now turned to MMM recruitment agencies. Businessmen and women now invest in MMM since the ROI is 30% in a month (why do I need to bother with buying goods from China, when there’s no guarantee I will have my goods shipped and cleared through customs in 30 days).

“MMM promises me N300k for my N1 million in ONE MONTH!”

I would be a fool not to partake after the whole impromptu session, which lasted less than an hour!

But you know. .. it is still a PONZI scheme!

Conspiracy

Why and what exactly is money exchanging hands for, in this scheme?
It is not a stock neither does it possess its characteristics, nor it has no physical material or composition.

How does Sergie Madrovi, or the MMM franchize in Nigeria make money?

I cannot claim to know the answers to these questions, but basic common sense would tell us, there is nothing free in Freetown.

MMM could be your ultimate Trojan! All its operation is on a website. Through the website, you enter all your personal details including bank information. Opening the website on your private PC could also install rogue bots that will capture every other data you have on your PC outside just visiting the MMM’s website, and that includes your key strokes! This is very insidious.

Data mining is the future. And you may just be providing MMM every single information you possess without signing a contract. This is besides intending this, for Google’s ad sense and general advertising purpose.

RED LIGHT!

My Advice

– Just be aware MMM is a PONZI scheme. This kind of scheme, always wearing a new look and new name each time, often show up when a nation is in misery or in recession. Guess which countries its featuring on in Africa at the moment… Zimbabwe & Nigeria

– It has a lifespan. Probably 1 year, if really good and the machinery is well perfected by its organizers. I see this one dead, by mid next year. If this helps, do note that it has gone bad in South Africa & Russia

– However, if you are going to go for a risky venture (remember, risk is neither good nor bad), GO BIG & ONCE. Do not attempt to be cautious or claim smartness about this, saying:

“I’ll do N20k, if it comes back, I’ll increase to N50k, then N100k”.

Trust me, you would have played yourself by the time you want to invest the N100k. That is what these schemes aim for – PROGRESSIVE GREED! 😀.

What you do if, and when, convinced is, take a reasonable sum (say N100k or N200k), close your eyes and JUST DO IT!
If you win – Cash out and say bye bye
If you lose – Your bad

Like I have communicated earlier, Do Not Be Greedy!

But you can always make an attempt to take an advantage of a scheme that is scheming to scheme you

One thing for sure, MMM, even though having a dangerous curve, is lifting the mood of Nigerians off the gloomy cloud of recession – for now

This is my opinion on MMM. And please, do not forget to read on the founder – Sergei Mavrodi

Oyinloye is an IT consultant and social commentator

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