Tears As MMM Zimbabwe Crashes Millions lost

The popular  money making machine known as MMM has quite failed again in Zimbabwe as many lost millions.

We can recall earlier I posted about The CBN warning Nigerians that the system is not real and its not safe.

Yet so many people kept on pursing there goal in MMM

Zimbabweans were also warned by there central bank


Zimbabweans have in the past months been joining the online investment scheme in droves in a bid “to get rich quickly”. The Reserve Bank of Zimbabwe warned people that the scheme was fraudulent and there was no legal recourse in the event they lost their money.


The central bank said MMM, which advertises its operations through a website and recruiting agents, was not a registered or regulated entity. EcoCash yesterday said:

“We have noted that some of these pyramid schemes are allegedly advertising in a manner that suggests that the Ecocash facility is a medium for prospective members to deposit their money. This is not correct.

“We advise our valued customers and all stakeholders that Ecocash is a licensed mobile payment platform that enables customers to make financial transactions such as sending money, buying prepaid airtime as well as paying for goods and services within the confines of the law of Zimbabwe. EcoCash promotes safe and legal transactions but will not be held liable for any losses arising from the use of EcoCash to engage in illegal activities such as Ponzi schemes.”


Currently, the scheme is in Nigeria and it is called MMM – Federal Republic of Nigeria. Lots of Nigerians are on the scheme and the scheme actually works (just like how it was working well at first in Zimbabwe). MMM Nigeria, is a Ponzi scheme that originated in Russia that has now set up in Nigeria. Wikipedia says the company was involved in one of the biggest Ponzi schemes in the 1990s. It was estimated that thousands of people lost up to $10 billion dollars. Well, a lot of people think the scheme is legit and not a scam but the history of the company says the opposite. Only time will tell.


So I advice each and every MMM member, kindly know your stand should In case.


Air your views below

Do you think MMM Nigeria would crash? Just like it happened in other countries?