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'MMM Scam Could Potentially Defraud Over 500,000 Nigerians' - Report

noreply@blogger.com (Anonymous) — Fri, 16 Sep 2016 14:53:00 +0000

Person wey get ear, make e hear ooooo! Toor!

A scheme called MMM which has turned out to be a scam might defraud a lot of unsuspecting Nigerians according to sources familiar with the ponzi-like investment.

According to the company’s website: MMM is not a bank, MMM does not collect your money, MMM is not an online business, HYIP, investment or MLM program. MMM is a community where people help each other. MMM gives you a technical platform which helps millions of participants worldwide to connect those who NEED help to those who are ready to PROVIDE help, for FREE. All transferred funds to another participant are your help given by your own good will to another one, absolutely gratis. If you are completely confident and certain in your actions and make your mind to participate, we kindly ask you to study carefully all warnings and instructions first. In cases of any matter regarding the topic Our online consultants are ready to help and answer all of your questions.

Which seems in order, but according to a report by BehindMLM, members are actually being ripped off and it’s a scam.

The report says; “While affiliates deposit real funds into MMM Global, the company itself pays out Ponzi points called “Mavros”. Mavros must be exchanged for real money, subject to availability of new investment deposits being made.

“MMM Eastern Africa, who run the MMM Global Zimbabwean chapter, have reduced the Mavro exchange rate from 1 Mavro to $1 to 5 Mavros to $1.

“This is effectively an 80% reduction in the dollar value of existing invested funds and the Ponzi ROI attached to them.

“For example, whereas previously an MMM Eastern Africa affiliate who invested $1 was promised $2 within 30 days, now they’ll receive just 20 cents.

“Affiliates who had been hoarding Mavros in their back office will now only be able to claim 20% of what they were previously able to request in withdrawals.

“This change has likely been implemented due to a lack of new withdrawals, leaving MMM Eastern Africa unable to meet it’s 100% ROI obligations come September 15th.

“By reducing withdrawal rates by 80%, it now takes longer for an affiliate to “break even”. But after five months the problem of paying affiliates more than has been invested, known as a “Ponzi liability”, persists.”

The scheme had started becoming popular in Nigeria and it has been reported that an estimated 509,021 Nigerians are members of the scheme.

The SEC have warned that the scheme is a scam. They said so in a statement which reads:

“The attention of the Securities and Exchange Commission, Nigeria (“SEC”) has been drawn to the activities of an online investment scheme tagged ‘MMM Federal Republic of Nigeria (nigeria.mmm.net). The platform has embarked on an aggressive online media campaign to lure the investing public to participate in what it called “mutual aid financial network” with a monthly investment return of 30%”

“The Commission hereby notifies the investing public that the operation of this investment scheme has no tangible business model hence it’s a PONZI SCHEME where returns are paid from other people’s invested sum. Also, its operation is not registered by the Commission”.

“The general public is hereby advised to distance themselves from this online scheme. Please note that anyone that subscribe to this illegal activity does so at his/her own risk”.

Culled from GISTpool Entertainments

Mini Estate for Sale at Affordable Price

noreply@blogger.com (Anonymous) — Wed, 14 Sep 2016 12:27:00 +0000

It's a Mini Estate consisting of 1nos 3 bedroom and 3nos 2 bedroom flats.
Located at Ilado, Off Lagos-Badagry Express Road. About 3 minutes drive from Aradagun Bus Stop. The asking price is N30million. C of O is almost ready (at the final stage.). The property is fenced round with gate.
You can contact or whatsapp: 08037234114 or 07030053985
See more pictures below:

Michael Jackson Ran Elaborate Child Sex Abuse Operation: Suit

noreply@blogger.com (Anonymous) — Wed, 14 Sep 2016 11:12:00 +0000

An alleged victim of Michael Jackson has claimed the late star helped operate the "most sophisticated child sexual abuse" operation in history in damning new legal documents.

Celebrity choreographer Wade Robson alleges the late singer abused him when he was just seven-years-old, and has now made the shocking new claims in an amended complaint filed against the star's companies MJJ Productions and MJJ Ventures.

Robson, 33, has claimed some of the star's inner circle served "dual purposes," and alleges they helped systematically seek out children and entice them to his Neverland Ranch.

"The thinly-veiled, covert second purposes of these businesses was to operate as a child sex abuse operation," Robson's lawyer, Vince Finaldi, reportedly wrote in the motion.

"Specifically designed to locate, attract, lure and seduce child sexual abuse victims."

He claimed the company would set up a limo to pick up families, take them to paid-for accommodation, and even sometimes offer them gifts.

"MJJ Productions operated the most sophisticated child sexual abuse procurement and facilitation operation the world has known," Robson's lawyer Vince Finaldi reportedly told the New York Daily News.

According to the complaint, Robson first met Jackson when he was five-years-old in Australia after winning a dance competition run by MJJ Productions, where he and his family were invited to stay at the Ranch.

Shockingly however, Robson claims while his family slept elsewhere, he shared the superstar's bed during the stay two years later.

According to reports, he claims that was the first time he was abused by the star.

He claims it carried on for the following seven years, and stopped when he hit puberty - as he alleges Jackson was then "no longer as interested in him sexually".

"Make no mistake, Neverland Ranch was nothing but a well-orchestrated trap," Finaldi told the New York Daily News.

"It was custom-built to attract kids so he could groom them and decide which to sexually abuse."

Robson previously denied he was abused when called to testify in a 2005 molestation trial - which saw Jackson accused of sexually abusing 13-year-old Gavin Arvizo.

At the time Jackson's former housekeeper, Blanca Francia, claimed that she saw Robson and Jackson in the shower together.

Jackson was cleared of all 14 counts of allegations against him in 2005.

However, Robson later sued Jackson's estate in May 2013, accusing him of molesting him for seven years.

At this time, Jackson's estate called the claims "less than credible".

Culled from: Ladun Liadi

Wizkid rejects N25m for international show

noreply@blogger.com (Anonymous) — Fri, 19 Aug 2016 01:51:00 +0000

Vanguard Allure reports that Nigeria music artiste Wizkid has confirmed that money is not a problem to him, even though the Nigerian economy is in recession after reports claims that he was offered £50,000 for an international show, which he rejected; saying his brand is not that cheap.

It has been rumored that Wizkid has been charging £100,000 for shows outside Nigeria for sometimes now.

The deal was said to have been brokered by his international management “Disturbing London” affiliated to United Kingdom pop star, Tinie Tempah.

Although, Wizkid hasn’t said anything concerning the rumour yet, we are waiting for his response.

Lagos Big Boy and Philanthropist, Prince Kazeem Eletu-Odibo reconstructs abandoned road (Photos)

noreply@blogger.com (Anonymous) — Fri, 19 Aug 2016 00:02:00 +0000

Hello people! Please read through what i found yesterday. I really think we need more of Prince in every nook and cranny of Nigeria. This will make our country a better place.

Prince Kazeem Eletu-Odibo

A good man with a large heart, Prince Kazeem Eletu Odibo, fondly called Chairman by all, is respected for his philanthropic acts. The good thing is, he’s not moved by praises as he’s focused on contributing “little” efforts for the good of his community, state and the society at large.

This time, the philanthropist took full responsibility for the reconstruction of the abandoned road at Osapa London, which had become an embarrassment to residents of the area due to its bad state.

Below is a picture of the poor state of the road before Prince Kazeem intervened.

As a result of neglect by successive government, the road became so deplorable to the extent that the few who risked driving through it end up spending huge sums on servicing. But all that has changed now. Prince Kazeem personally financed the road construction. See the photos…

May God bless you real good brother!

Credit: Nigeria Camera