Wahala: MMM Crashes, Tears as many loses Millions!

mmm-1  


MMM Zimbabwe, the Zimbabwean section of ponzi scheme making the rounds in Nigeria has crashed. According to Pulse, MMM in Zimbabwe a few weeks ago stopped withdrawals, causing its collapse. Thousands of people, among them civil servants, vendors and more, reportedly lost thousands of dollars (which translates to billions, trillions of the local currency) to the fraudulent online pyramid scheme. This is despite the warning the country’s government against investing in the scheme.
     The same situation obtains in Nigeria. Some are adamant that the scheme is legit despite warning from government to desist from it.
MMM South Africa had also in May 2016, with the company saying that it was a media panic and said it was ‘starting over’. In January 2016, the Chinese government banned MMM because it is a Ponzi scheme.

Comments

Post a Comment

Popular posts from this blog

BREAKING: IPOB Goes For Biafra Referendum, International Community, Others To Come For Monitoring

Image
The Indigenous People of Biafra (IPOB) has called for a sovereignty referendum on the way to liberating Biafra. The group has also advised Biafrans at home and in the Diaspora to be prepared for the forthcoming referendum to decide whether to be an independent sovereign entity from Nigeria or not.  IPOB said in a statement by its Media and Publicity Secretary, Emma Powerful, that Biafrans have the right, under international law to decide their fate through a referendum, the same way Britain exercised its right to leave the European Union (EU) without the permission of the European Parliament or European Council. The group noted that Scotland had also exercised the right to self-determination and so had the Quebec region in Canada. IPOB said organs of the region were the people designated to call for a referendum for independence of Biafra, not the government and added that the United Nations (UN) would monitor the referendum processes and ensu
Read more