Articles under ‘MMM Global’:

Peru issues Pay Diamond, OneCoin, CoinSpace & MMM Global warning

Peru has grouped some of the top MLM Ponzi schemes doing the rounds and issued a collective consumer warning. The warning was issued on September 9th by Superintendencia De Banca, Seguros & AFP (SBS), Peru’s top financial regulator.


Authorities to target banks helping to facilitate MMM Nigeria Ponzi scheme

I don’t know what it is about Nigeria and the MMM Global Ponzi scheme, but for some reason locally scam refuses to die out. Despite having collapsed three times beginning last December and resulting in an estimated $57 million dollars in losses, MMM Nigeria continues. Criminal action has been taken against at least one MMM [Continue reading…]


MMM Nigeria affiliate facing eighteen years in prison

Following the collapse of MMM Nigeria a few months ago, it was estimated that some 3 million Nigerians together lost $57 million dollars. Following a criminal complaint filed by two affiliates, now one MMM Nigeria affiliate is facing up to fifteen years in prison.


Bank of Ghana issues MMM Ghana investor warning

One of the more pervasive Ponzi schemes that refuses to die is MMM Global. Founded by Sergey Mavrodi and with origins dating as far back as 1994, MMM Global collapsed last year. Due to the scheme using bitcoin and Mavrodi walking away scott free, total investor losses were never quantified. The aftermath of MMM Global’s [Continue reading…]


MMM Reunited Review: 100% a month ROI MMM Global clone

MMM Reunited provide no information on their website about who owns or runs the business. The MMM Reunited website domain (“mmmreunited.org”) was privately registered on January 29th, 2017. Alexa currently estimate that the US (53%) and Nigeria (25%) are the top sources of traffic to the MMM Reunited website. This suggests that whoever is running [Continue reading…]


3 million Nigerians lose $57 million in MMM Nigeria collapse

The Nigerian Deposit Insurance Corporation has revealed that an estimated three million Nigerians lost over $57 million USD in the MMM Nigeria collapse. Speaking at an International Trade Fair on Thursday, Hadi Suleiman, NDIC’s Deputy Director of Corporate Affairs


MMM Nigeria victim drinks insecticide, dies after stomach complications

The collapsed MMM Nigeria Ponzi scheme has claimed another victim, following a young man’s passing last Monday. Adakole, as the young man was known, was due to be wed last December. On December 14th, MMM Nigeria suspended all affiliate withdrawals and effectively collapsed. This prompted Adakole to drink insecticide, in an apparent bid to end [Continue reading…]


MMM Returns Review: 150% ROI MMM Global Ponzi reboot

The MMM Returns website brands the opportunity as a “Sergey Mavrodi venture”. I am Sergey Panteleevich Mavrodi, legal professor and administrator for an [sic] self sustaining owned global social financial revolution system called MMM Returns. Mavrodi is a convicted felon who first popped up on BehindMLM’s radar in 2015. Through MMM Global, Mavrodi (right) scammed [Continue reading…]


MMM Nigeria wipes 2016 ROI liability, restarts Ponzi

When a Ponzi scheme finds itself unable to meet its ROI obligations, a less popular option going forward is to just simply wipe the slate clean. A minority of early investors keep what they stole, everybody else loses money. In an attempt to generate new investment into the scheme, MMM Nigeria has wiped the 2016 ROI [Continue reading…]


Blood on Chuddy Ugorji’s hands after mother of two commits suicide

The collapse of MMM Nigeria in as many months continues to wreak havoc in the lives of those who invested. The latest casualty is a mother of two from Benue, a state in Nigeria’s south-east. On the eve of December 28th, Gloria Samson bade her children bye and apologised for any wrongdoing she might have committed [Continue reading…]