MMM Global @ BehindMLM

In late January we reported that a South African bank had frozen bank accounts tied to MMM Global. The move came after authorities in South Africa announced they were investigating the scheme last September. Recently the National Consumer Commission concluded their investigation, with all but one of the nine suspected pyramid schemes given the all-clear. Findings [Continue reading…]

Back in September 2015 we reported on South Africa’s National Consumer Commission and Specialised Commercial Crimes Unit conducting an investigation into WorldVentures. Now, rumblings out of South Africa that the NCC have concluded their investigation – with an announcement expected early next week.

An investigation into MMM Global by the South African National Consumer Commission appears to be making progress, with news yesterday of investor’s bank accounts being frozen. MMM South Africa is the name of the MMM Global Ponzi scheme’s South African branch, with our review of the scheme noting that as of September 2015, it had [Continue reading…]

In an effort to dupe investors into thinking the scheme is run locally, Sergey Mavrodi has set up local chapters of his MMM Global Ponzi scheme. Localized versions see the country name they operate in prefixed with “MMM” (MMM South Africa, MMM Egypt etc.). The more prominent of MMM Global’s localized chapters is MMM China, [Continue reading…]

There is no information on the MMM Global website indicating who owns or runs the business. As per the MMM Global website: There is no formal organization, no legal person in MMM. And of course there is no central bank account, no other activity in any form. Neither close, nor open. There is nothing! The [Continue reading…]