Thursday

Beware! "MMM is a Scam, I Have Lost N189,000" - Nigerian Man Weeps on Social Media


The Central Bank of Nigeria, CBN recently issued a warning on online investment scheme tagged: ‘MMM Federal Republic of Nigeria'.
 
It warned Nigerians against investing in the 'Wonder Bank' which lures the general public to participate in what it called “mutual aid financial network,” with a monthly investment return of 30 per cent.
 
The warnings of the apex bank and other financial bodies have fallen on deaf ears and majority of the masses stricken by economic recession have found solace in the Ponzi Scheme despite fears of its imminent failure.

An unnamed Nigerian who is shy about the disclosure of his identity has accused MMM Global of scamming him of his funds amounting to N189,000 which is part of the proceeds he has gathered from the financial engagement over months.

"It started on the 19th June 2016, My Friend introduced me to this MMM of a thing. I obliged and joined. It was paying well, there was no comma or full stop, not all".

"Till I opened an account for my cousin who shared the same surname. Fast forward, MMM administrator placed my account on temporary moratorium of getting help as they provide and get help in the system on 13th September 2016 and told me to verify identity of which I did" 
the victim continued.

"After that, I kept on contacting MMM Support of which they assured me they will remove their God forsaken temporary moratorium which they have used to scam thousands of participants (not only me) as I found out they do it secretly and MMM fortifies its system with this.That also account in a way how they pay 30‰ to their teeming community of 30% earners (Guiders,referrals and ordinary participants).
 
"Only for my account to be blocked by the administrator earlier today that I used two accounts that the registration and referral bonuses have been deleted while my #90,000 I paid since when I started MMM which yielded 189,000 naira parted with the blocked account," He painfully concluded.
 
Screenshots from the victim's financial transactions
 
Meanwhile, a personal research by Tori News revealed MMM is still operational and the user who shared the screenshots was suspected to have abused the community standards which attracts a penalty of forfeiture of financial investments.
 
MMM Global still remains a risk as the scheme could fold up unexpectedly according to financial analysts who have traced its history of woes in several countries namely Russia, South Africa, Zimbabwe and others.

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