MMM

How to spot a pyramid scheme

Hattingh offers some pointers to help consumers identify a Ponzi scheme or investment initiative:

• It offers very high returns on investments, with interest higher than that of any bank or authorised financial services provider.
• It is never widely publicised or advertised.
• It is normally a get-rich-quick scheme.
• It is not authorised by or registered with financial services providers, and is not accountable to anybody.
• And most notably, investors or participants primarily derive an income or return on investment from recruiting other participants.

*Anyone who becomes aware of a Ponzi or related scheme should report it to the National Consumer Commission on (012) 761 3400.
Click to expand...

Source http://www.fin24.com/Companies/Financial-Services/Ponzi-scheme-alert-as-9-businesses-under-scrutiny-20150917

I have subsequently made the NCC - E.Mohammed aware of the risky site as is our civic duty.
 
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Apparently lots of people falling for this, some made a lot of money so far, buying a car for cash.
 
Its a typical pyramid for the greedy, I remember as a kid collecting hundreds of MMM notes on the streets of Moscow when it went bust, was fun for kids to feel rich, not so much for the investors.
 
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