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Mmm In Zimbabwe: How did millions of people lose their money?

MMM – read on about financial pyramids in Zimbabwe as well as in Nigeria. Be sure you know everything you should know about these schemes.

MMM

Financial trauma has come up with lots of Zimbabweans as a result of Ponzi Scheme collapse.

People from different corners of Zimbabwe have lost huge sums of money – thousands of dollars – as they have trusted their financial resources to fraudulent online pyramid which is called MMM Global Zimbabwe, this is due to the fact that it has fallen.

Nothing special – simple system of financial pyramids was used to create this one. A growing number of new-comers should pay off the dividends. But, unfortunately, or even fortunately, as fewer people have become involved in this social financial network, it has collapsed without any prognostics.

We can’t help but tell that the reason of the entering to such schemes is simple – getting rich quickly. Despite the fact that these people were informed about the system.

MMM stands for Mavrodi Mondial Moneybox and takes its name from its founder, Sergei Panteleevich Mavrodi of Russia.

MMM

MMM - the biggest Ponzi scheme of all that ever existed in the Soviet Union and then the Russian Federation. According to various experts from the activities of JSC "MMM" between 10 and 20 million of the depositors have suffered, 50 of which have committed suicide.

READ ALSO: What is Financial Intelligence?

According to this scheme, pyramid schemes generate income up to 500% and higher, depending on the rules that are established within the specific financial pyramid. The reason for the collapse of a Ponzi scheme is that the number of members it has to grow exponentially, and at this rate, even the whole country will not be enough people to provide first 7-10 stages.

If you think that the depositors' money is always deposited at the organizer of all this scheme, you are mistaken. He himself can fail as a result of their activities. Of course, not to the point to go around the world, but just so that he had no funds to pay benefits to all participants in the scheme. Naturally, when it begins to "smell the fried", the organizer prefers to hide, and the financial pyramid stops.

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Nowadays, the same scheme exists in Nigeria and it is called MMM – Federal Republic of Nigeria.

We suppose you know what the end of this story will be. Think about newcomers and about your families. Think twice before investing in it.

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