Metro MMM Zimbabwe Crashes, Thousands Lose Billions

L

LequteMan

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MMM Zimbabwe, the Zimbabwean section of ponzi scheme making the rounds in Nigeria has crashed.

According to Pulse, MMM in Zimbabwe a few weeks ago stopped withdrawals, causing its collapse.

Thousands of people, among them civil servants, vendors and more, reportedly lost thousands of dollars (which translates to billions, trillions of the local currency) to the fraudulent online pyramid scheme. This is despite the warning the country's government against investing in the scheme.

The same situation obtains in Nigeria. Some are adamant that the scheme is legit despite warning from government to desist from it.

MMM South Africa had also in May 2016, with the company saying that it was a media panic and said it was 'starting over'.

In January 2016, the Chinese government banned MMM because it is a Ponzi scheme.
 

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I hope it crashes soon in Nigeria, so that people can learn their lessons in a hard way. People are driven by greed, because I see no reason why you'd pour your savings into a scheme with no tangible business model.
 
Yet there are some obstinate Nigerians who insist on this ponzi scheme, talk about barking up the wrong tree.

Most Nigerians are weak and docile. They'd prefer to turn to a ponzi scheme to be saved instead of demanding stuffs from their leaders.

It all feels like a written script.
 
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