For the past 40 days, controversial ponzi scheme, MMM, has been in the news for different reasons and with the reports surfacing that the top MMM guider fleeing (in case you missed it)..
Now, we are sure nearly all Mavrodians should have finished consoling themselves and acknowledged the crashing..
We bring you 10 lies, that Mavrodians told themselves before the scheme crashed
1. There is No Central Account So Your Money Cannot Be Taken By Anyone
The truth is that MMM is setup in such a way that the guys at the top can channel and transfer huge funds probably going into hundreds of millions of naira out of the system and leave the low-level members to pay for it. This is primarily what has happened; you don’t see top Guiders complaining?
Why? They have made their huge profits from gaming gullible people at the bottom of the pyramid.
2. It is a Mutual Help Community
If this is so, I am sure Nigerians are very kind people, the fact that millions cannot ‘Get Help’ tells you, you entered a Ponzi scheme not a mutual help community.
3. Authorities in Different Countries are Against MMM Because it Threatens Commercial Banks
This is practically not true in Nigeria because you Mavrodians were paying money into each other’s’ bank accounts; the more transactions you do, the more money banks make.
Nigerian regulators like the Central Bank of Nigeria (CBN) and the Securities and Exchange Commission (SEC) warned people against MMM and similar schemes because it is their duty to do so.
As you probably realize now, they cannot help you if you lose money from the scheme, what they should have done, they did.
4. MMM is Not an Investment, It is Charity
Then why are you worried and your blood pressure rising? I do not lose sleep over charity I give, if you are losing sleep over money you put in MMM that is not coming back to you, then you were investing in the hopes of a huge return, not giving charity.
5. Mavrodi Cares So Much About the World and Created MMM to Help the Poor
Really? An ex-convict from Russia where you can get away with a lot of things that will land you in jail in other countries cares about you? Sorry, Sergei Mavrodi is just a convict that has not changed his ways.
6. You are Helping to Positively Change the World by Joining and Promoting MMM
You mean you are helping Mavrodi scam more people. The world definitely needs positive change. However, it is not going to come from Ponzi schemes like MMM.
7. Those that are Asking You Not to Join MMM are Jealous of Mavrodians
‘A fool and his money are easily parted’, nothing to be jealous about in this.
8. Mavros keep Growing and are Actually Worth Much
At least now you know that you can have 1 trillion Mavros but it will not buy you anything at the market, maybe a dirty slap though.
9. Nobody is Controlling the System, It is self-sustaining
Now, you know better of course. From freezing accounts to changing the rules in the middle of the game, you definitely have someone bossing you around in this Ponzi scheme.
10. Those that Warn You Against MMM Do Not Want to Be Rich
You really need to be part of our organization’s meetings to see that there are probably very few Mavrodians that have more drive to make money than me. The only difference is some of us seek legitimate money and are not looking for get-rich-quick schemes.
Abdulkabir Olatunji is the Head of Strategy at Jarus & JAN Internet Group and an Associate Member of the Nigerian Institute of Management (AMNIM). His interests include writing, blogging, all-things-tech and analysis of current affairs and sports. You can follow him on LinkedIn and on Twitter @maclatunji