MMM Global - pyramid scheme

R13... said:
With defence x they went after the participants as well as the owners. I know people who had their accounts frozen and never saw a cent of the money they had in there to this day.

Of course if you spend it then they may have nothing to freeze.
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lol! They can collect it at UNISA :D


I assume we talking people who got hundreds of thousands (or even millions) in their accounts from defence x? or is it also the ordinary broke ppl like myself? :D
 
airborne said:
Correct me if I'm wrong but you are basically defrauding some unfortunate person to get those "returns"?
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Pretty much
But of course there is "no central bank account." Personally I think you have to be incredibly naive to believe that, or simply not care about the people coming in later than you.
 
mulalo.Ramonedi said:
I just earned 30% on my "Investment" in 30 days. No jokes.
I did this with money I could afford to loose, just cashed today. The last time I checked, stokvels were legal in SA.
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That's how a pyramid scheme works. You are one of the 'success' stories. You have your cash now. Keep on investing in this scheme, tell your friends, tell everybody at your church about it. That's how it works after all.

Don't cry when you lose everything.
 
ice_cubes said:
lol! They can collect it at UNISA :D


I assume we talking people who got hundreds of thousands (or even millions) in their accounts from defence x? or is it also the ordinary broke ppl like myself? :D
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No these are low level guys with a few hundred to thousands in Capitec accounts. They targeted the accounts which were proved to be receiving the proceeds from defence x.
 
It doesn't matter what your opinions are on this guys. This is just one of those *either you are in or out* -kinda things.

And last time I checked, this thread was asking a review of how this thing works & what its all about (unless I missed the plot somewhere)...not a *lets trash ice_cubes* thread
 
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ice_cubes said:
TBH, I'm not too bothered about the *Mavro conspiracy theories* As long as my UNISA bill is reducing every month.

Hence the reason why I dont actively recruit ppl to join me. WHEN this goes down, I dont want ppl pointing fingers at me saying I sold them rotten potatoes
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What are you saying is that you are fairly sure you are complicit in committing fraud. It's morally equivalent to looting a shop because everybody else is doing it.

When all those old people lose their pension money and savings to this scheme you are welcome to feel good for being one of many thousands who perpetuated it in the knowledge that it was a scam.
 
ice_cubes said:
I think you are referring to the ones that has several *central accounts* where there was also directors & registered offices etc. They went after the scheme *inventors*, not the participants.
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No, I'm talking about ordinary Joe Public's bank account getting frozen!
 
R13... said:
No these are low level guys with a few hundred to thousands in Capitec accounts. They targeted the accounts which were proved to be receiving the proceeds from defence x.
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Yep, from a Businesstech MMM scheme article early this year:

Meanwhile, users of the scheme say the scheme works just like a stokvel, and that the banks should not get involved in how they spend their money.

“Capitec bank should stop freezing people’s money. This is our hard earned cash how we spend its none of your business. It’s our decision to donate to each other to reach our goals! Capitec hands off our accounts,” one client said.
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http://businesstech.co.za/news/banking/109899/russian-ponzi-scheme-raises-fraud-flags-at-sa-bank/
 
ice_cubes said:
IYou are confusing MMM with the likes of www.dmgc.co.za (who falsely advertise themselves as an investment company with 100% return in 5 days)
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Out of who's pockets exactly are your 90% odd monthly returns coming from?

There is no free lunch, this isn't someone cleverly investing money to get the returns, once it's all finished and done/ponzi collapses your returns came out of the pockets of someone who was on the losing end of the scheme and were essentially defrauded in collusion with yourself.



ice_cubes said:
lol! They can collect it at UNISA :D


I assume we talking people who got hundreds of thousands (or even millions) in their accounts from defence x? or is it also the ordinary broke ppl like myself? :D
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Don't worry Unisa will co-operate with investigators, if the transfers were made into Unisa accounts they were no doubt done using your student number as the payment reference, which links directly back to you. Unisa won't hesitate to honour a court ordering the return of the funds which will result in your account retroactively put into huge arrears. Actually if trying to escape law enforcement is your aim putting the transfers into Unisa is probably the worst thing you could do, that account can never be closed.
 
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ice_cubes said:
It doesn't matter what your opinions are on this guys. This is just one of those *either you are in or out* -kinda things.

And last time I checked, this thread was asking a review of how this thing works & what its all about (unless I missed the plot somewhere)...not a *lets trash ice_cubes* thread
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Reading is a skill...but clearly some ppl here seem to not understand this point :D
 
ice_cubes said:
Reading is a skill...but clearly some ppl here seem to not understand this point :D
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:rolleyes:

Maybe instead of trying to deflect the conversation and vague insults about people not being able to read you could, I dont know, simply stop trying to justify your actions in a pyramid scheme. Your reactions already show you know you're in the wrong, just admit it and stop taking advantage of people less informed than you.
 
ice_cubes said:
Reading is a skill...but clearly some ppl here seem to not understand this point :D
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MickeyD said:
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Nothing wrong with what ice cubes is saying though. This forum has loads of discussions and assistance for people looking to contravene copyright laws and the rules never get cited. She is simply sharing her experience with pyramid schemes and she is clear she knows they're pyramid schemes and know the risks as an adult.
 
R13... said:
Nothing wrong with what ice cubes is saying though. This forum has loads of discussions and assistance for people looking to contravene copyright laws and the rules never get cited. She is simply sharing her experience with pyramid schemes and she is clear she knows they're pyramid schemes and know the risks as an adult.
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Good point. However she is complicit in defrauding private individuals, many of whom will be the most vulnerable members of our society. If one has a sliding scale of immorality, this may be quite further advanced than copyright infringement.
 
smallearth said:
Good point. However she is complicit in defrauding private individuals, many of whom will be the most vulnerable members of our society. If one has a sliding scale of immorality, this may be quite further advanced than copyright infringement.
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The defrauded are also both victim and fraudster just depends on the timing of collapse
 
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