Background
MMM Global (also known as МММ-2011 / МММ-2012) is a Ponzi scheme launched in 2011 by Sergei Mavrodi, with subsidiaries in up to 110 countries; it became widely popular in various African countries like South Africa, Nigeria, Zimbabwe, Kenya and Ghana with some attributing this popularity to poverty and poor government regulation or law enforcement.
People Involved
Promotion of MMM on Youtube
A video of Cheri Ward shamelessly promoting MMM
A Screenshot of Clynton Marks promoting MMM below:
Withdrawals
Presentation * https://www.youtube.com/watch?v=eu5qOZii3YQ
Withdrawal
In the News
- MMM Under Investigation - 702
- More MMM victims come forward as losses run into millions - https://www.news24.com/fin24/myfin24/more-mmm-victims-come-forward-as-losses-run-into-millions-20170720
- MMM: I lost R90 000 instead of becoming a millionaire in 6 months - https://www.news24.com/fin24/MyFin24/mmm-i-lost-r90-000-instead-of-becoming-a-millionaire-in-6-months-20170714
Wikipedia
- MMM Global - https://en.wikipedia.org/wiki/MMM_Global
“South Africa - In 2015, MMM began operating in South Africa with the same business model as MMM-2011, claiming a “30% per month” return through a “social financial network”.[2] The group was identified as a possible pyramid scheme by the National Consumer Commission and accounts of clients were later frozen by Capitec Bank.[3] In response to mounting criticism and official investigations by state authorities in 2016, supporters of the South African MMM scheme staged a protest march in Johannesburg.[4] and had started up again in late November 2016.”
In The Media
- Helping Hands - Liz Malton's page - MMM Helping Hands
- Liz Malton - https://youtu.be/pT_lKRiI3gQ