11 Things Which Prove MMM Is A Ponzi Scheme

In the past month, ‘MMM’ has become quite common among Nigerians despite warnings from the Securities and Exchange Commission (SEC).

The Ponzi scheme is gaining new members daily and a Nigerian chose to explain how and why the scheme should not be invested in

1. Interest is too high and too good to be true
2. You don’t understand what they do with the money#NigerianPonzi

— Financial Advocacy (@ugodre) September 7, 2016

3.There is no face to the owners of the business
4.The company is new and probably doesn’t have a recognized office building#NigerianPonzi
— Financial Advocacy (@ugodre) September 7, 2016

5.They don’t sign any legal binding agreement with you#NigerianPonzi

— Financial Advocacy (@ugodre) September 7, 2016

https://t.co/XZ8cdJF9ai don’t get a collateral or security for your investment#NigerianPonzi
— Financial Advocacy (@ugodre) September 7, 2016

7. It is not regulated or approved by SEC or any other body allowed by law to approve such a scheme#NigerianPonzi

— Financial Advocacy (@ugodre) September 7, 2016

8. They give you incentives/rewards to bring in more subscribers to the scheme.#NigerianPonzi
— Financial Advocacy (@ugodre) September 7, 2016

9. It relies on new incomers to sustain the scheme. When new incomers stop it dies. #NigerianPonzi

— Financial Advocacy (@ugodre) September 7, 2016

10. The owners hate criticisms and defend it till the scheme crumbles.#NigerianPonzi
— Financial Advocacy (@ugodre) September 7, 2016

11. It fetes on people’s greed and thirst for quick money#NigerianPonzi

— Financial Advocacy (@ugodre) September 7, 2016