MMM Global - pyramid scheme

R13... said:
But the SA one is still going and its members are rabid in its defence
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They a rabid in their defence because they all stand to lose out if they all now rationally accept what to us was always the inevitable. They rather be irrational in hope than rational in defeat.
 
xeslaro said:
They a rabid in their defence because they all stand to lose out if they all now rationally accept what to us was always the inevitable. They rather be irrational in hope than rational in defeat.
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yep see this all too often.

Not only the hopes of not losing their investment but also the inability to admit they were fools.



2 Years later and the idiots I work for still has not made the millions they were going to make with Lyoness.

I told you so has never tasted sweeter.
 
And you wonder why the banks are not forced to reveal where the stolen money has gone and/or freeze it ?
FICA !!!!!
Perhaps because they all have cosy Gov. accounts which have unlimited overdrafts guaranteed by the Zuptas ?
 
Moses29 said:
I have been listening to people talking about this pyramid system, how it helped them since they joined it. So I want to do it also not to try it but do it.
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You have money you willing to lose? Then by all means try it.

School fees....
 
And some of them are bragging about their massive amounts they received. I wonder if they have paid their donations tax to SARS ?? The hawks are even investigating MMM.
 
russellO said:
And some of them are bragging about their massive amounts they received. I wonder if they have paid their donations tax to SARS ?? The hawks are even investigating MMM.
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Heard yesterday that although CCU/Hawks will not be able to charge the "mastermind" (as there simply is none), SARS will go after each MMM member and perform life-style audits which will eventually result in tax-penalties as neither income-tax nor donations-tax (I have a strong feeling that MMM does not fall under donations though).

Even if MMM is classified as donations, the annual treshold is 100K and from what I have heard, if they donor fails to pay the tax within the set period, both the donor and the donee are liable. Initial estimates are that a good 2m people in SA alone participated in MMM (imagine if each person only contributed R500 - this amounts to a cool R1bn of cash floating).

Once SARS hits you with an audit you will be in for a ride of a life-time - back taxes, penalties, withholding of tax-clearance and returns. Hopefully SARS will go after people who are currently not paying taxes as MMM and similar schemes seem to be quite popular as a Stokvel replacement.
 
boxerulez said:
yep see this all too often.

Not only the hopes of not losing their investment but also the inability to admit they were fools.



2 Years later and the idiots I work for still has not made the millions they were going to make with Lyoness.

I told you so has never tasted sweeter.
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Lyoness??? I cannot believe anybody went for Lyoness... I went to their stall at the Photography Expo about 2 years ago and their whole pitch was so weak I just smiled and walked away... I really cannot believe people fall so easily for this ****e..
 
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