Queen Doosh

The Founder of the MMM Ponzi scheme, Sergei Mavrodi, has died of a heart attack at the age of 62. The Russian businessman was reportedly rushed to the hospital late on March 25 with pain in his chest and died several hours later. Mavrodi started the MMM financial pyramid, a Ponzi scheme that deprived millions of Russians their savings in the 1990s. The scheme promised returns of 20 percent to 75 percent a month for investors. However, as soon as the number of new clients stopped growing, the pyramid collapsed, causing huge financial losses for at least 10 million people, in some cases leaving them destitute. A Moscow court found Mavrodi guilty of financial fraud in 2007 and sentenced him to 4 1/2 years in a penal colony. He later launched another pyramid scheme called MMM-2011, calling on investors to purchase so-called Mavro currency units in a bid to get rid of the "unfair" financial system. The project was however halted after a few months. Then, between 2011...

Just like last year during festive period. Nigerian Ponzi scheme, MMM has officially announced a “RESTART” of the system, leaving many Nigerian participants wailing with thousands and millions of Naira trapped in the scheme. In a message posted on the home page of participants Saturday morning, the scheme said that it had struggled to stay afloat after going on a break in Dec. 2016 but had been forced to do a system restart. Many of the participants who commented in various MMM Whatsapp groups recounted sadly how they and family members had lost millions to the scheme. MMM is a ponzi scheme which gained popularity in Nigeria in 2016. It promised to pay participants 30 per cent return on investment every 30 days. Despite various warnings by the Federal Government and its financial regulators, many Nigerians adamantly went on to participate in MMM. Read the full text of the message: RESTART Unfortunately, we were unable to overcome the consequences of the crisis trigg...

At least, Two officials of money-doubler ponzi scheme, Mavrodi Mondial Movement, referred to as MMM, have been arrested at the instance of the Central Bank of Ghana.

Ponzi scheme, Mavrodi Mondial Moneybox (MMM) has announced that it will be freezing the account of some of its participants for the second time. In a statement, the ponzi scheme owners said it has also introduced new measures to ‘serve them better’. “You constantly reproach us stating we don’t listen to your opinions however we really do. We try to carry out the most reasonable and efficient suggestions immediately,’’ the statement said. "Particularly, in accordance with your suggestions, we will soon take the following measures: "We will stop the growth of confirmed Mavros acquired before the 1st of January 2017. "We will freeze the bonuses received before the 1st of January 2017 (so that limited withdrawal of Mavro-2016 will include only contributions, not bonuses). "We will introduce a new rule according to which the withdrawal amount cannot exceed triple amount of the provided help (so, GH cannot exceed PH more than in 3 times).

Should participants tag it as goodnews? Maybe. The Mavrodi Mondial Movement (MMM) Ponzi scheme has released a new statement on its operations for every participant.

Amid rumor of MMM top guilder fleeeing the country, the Ponzi scheme, MMM, continues to make improvements and complete its much anticipated new model, some measures are being put in place to make MMM better.

Troubled ponzi scheme MMM has been blamed for the death by suicide of a 34 year old mother of two kids, Mrs Gloria Samson in Makurdi, the Benue State.

It is an MMM Anthem i guess. lol. watch the VIDEO HERE..

MMM Nigeria, the most popular ponzi scheme in the country, has started paying outstanding mavro (money) to participants of the scheme, TheCable reports.  Kolade Ogunwande, a participant, who manages a number of accounts, told TheCable on Friday that N17,000 was paid into one of the accounts he handles for a friend. “One of the accounts I manage for a friend finally got paid. She invested N20,000 on November 10, 2016, and her money has appreciated to N35,000,” he said. “When MMM resumed last week, she said I should withdraw all the money for her, which I requested for immediately. She was paired the day after. “The two people she was paired with had to pay N17,000 and N18,000 to make up the N35,000, but only one person has paid.”  Meanwhile, the scheme has issued new guidelines on its blog. The guidelines are:   1. As a necessary measure, we decided to set limit to withdrawal this week thus the N31000 maximum withdrawal on your PO.   2. W...

The number of people this MMM saga is throwing off balance is increasing by the day. The ponzi scheme has now introduced another stringent measure, to the shock of investors.

The Central Bank of Nigeria, CBN, has advised Nigerians against the use of virtual currencies, including bitcoin, ripples, litecoin.

Nearly a week after its return and the seeming less enthusiasm by Nigerians as against what obtained few months ago, owners of the Mavrodi Mondial Movement, MMM, may be considering a new strategy.

The joy of participants (Mavrodians) in MMM over the return of the scheme on January 13, a month after it froze their accounts, has turned out to be shortlived as they have been fed excuse after excuse.