Someone posted a link to MMM Global BTC on my Facebook wall, so I went to have a look and what I found was a little disturbing. I thought MMM Global had stopped operating but this doesn’t seem to be the case. They’re still going strong and offering incredible returns with their latest scheme.
In my review, we will look at the history of MMM, their owner and you will see why I think you should stay away from this program.
Product: MMM Global BTC
Overall Ranking: 10 out of 100 or 0.5/5 stars
Price: free to join, then minimum commitment of $50
Owner: Sergei Mavrodi
Website: mmmglobalbtc.org
MMM Global, a little background
The original MMM company was formed in 1989 by Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova. The company name was made up from the first letter of the 3 founders surnames.
Originally the company was involved in importing goods into Russia but they met with financial difficulties and were accused of tax evasion in 1992. They morphed into a company involved in financial operations.
First MMM Ponzi
In 1994 MMM created a successful Ponzi scheme. It is reported that at its peak MMM was taking in 100 billion rubles (approx $50 million) per day! In July of 1994, the police closed the offices of MMM for tax evasion; they owed more than 50 billion rubles ($25 million) in taxes. Worse still, they owed huge amounts to their investors, believed to be between $50 million and $1.5 billion. After losing their money, at least 50 investors committed suicide.
Mavrodi managed to escape prosecution by being elected to the Russian parliament “the Duma” and hence obtaining parliamentary immunity. He portrayed himself as being against the state tyranny and persecution.
Mavrodi Creates Pyramid Scheme and Goes To Prison
In 1998 Mavrodi created a pyramid scheme called Stock Generation which ran from 1998 to 2000. Many thousands fell for this scheme that offered returns of 200%. The SEC estimated that victims losses were at least $5.5 million.
Mavrodi was finally arrested in 2003, and in 2007 he was sentenced by a court in Moscow to four and a half years. He was also fined the paltry sum of 10,000 rubles ($400). As he had already spent several years in prison, he was released soon after his court case.
MMM Rises From The Ashes
In 2011 Mavrodi started again, still using the name MMM. The next Ponzi scheme was called MMM-2011 then came MMM-2012. Both these lasted a short time and were operated from Russia as Ponzi schemes were not illegal there until March 2016.
Since then, there have been more MMM Ponzis in different countries, hence the name MMM Global. For example, MMM South Africa, MMM China which collapsed in January 2016, and many other countries.
Will This Ever End?
There was also the MMM Republic of Bitcoins which closed in April 2016. And now there is MMMGlobalBTC! The list just seems to go on and on.
It’s surely just a question of time before the MMM companies stop operating. Leaving thousands more in poverty, debt, and financial hardship.
Having seen all these scams, how can people still be promoting this program?
Here is a video of Sergei Mavrodi talking about the MMM Global; this is nearly the same as MMM Global BTC. Just the returns are much less!
What is a Ponzi Scheme?
Before looking in further detail at MMM, let’s just take a look at what is a Ponzi scheme and how it works.
A Ponzi scheme is a fraudulent investment program where the operator promises a high rate of return to investors. The returns to investors are paid from acquiring new investors rather than from genuine business profit.
Most investors don’t look at the way the scheme works what convinces them to invest are the abnormally high returns that are promised.
Once the operator or schemer has convinced a few people to invest, he can siphon off that money for his personal use.
New Investors Needed
However, to keep the first investors happy, the schemer has to find some new investors. From this second lot of investors, the schemer will pay the first group of investors with their first returns and probably siphon off some more money for his personal use.
The second lot of investors will expect a payout, and the first group will expect more returns. So more investors will be needed to pay the first two groups. It will continue like this with a constant stream of new investors needed to pay existing members.
Unsustainable In Time
It’s a question of time before the scheme cannot acquire sufficient new investors and becomes unsustainable. Then everything will collapse, and the last investors will lose all their money. Ponzis may also be shut down by regulatory agencies, as in the recent case of Traffic Monsoon.
Early investors can actually do very well in a Ponzi scheme. Their testimonials are often used to encourage new investors.
If you enter a Ponzi scheme, you do so with the knowledge that your gains may be funded by the losses of others. Not very ethical!
MMM isn’t exactly like a normal Ponzi scheme, the money circulates directly between the members, there is no central bank.
Discover A Legitimate Way To Make Money Online
What is MMM?
MMM is a community of people providing financial help to each other. The program puts in contact those who need help (money) and those who can provide help (money).
MMM organize transfers of money between anyone who joins the scheme. They claim they are completely legal, and it is just a system where unacquainted people transfer money to each other for no reason.
This sounds very much like cash gifting. When carried out without the intention of getting something in return, cash gifting is legal, but when you join MMM, you are promised returns of at least 210% per month, so you are clearly doing this to make money.
How MMM Global BTC Works
Register and Warning
You register for free. When you register, you must declare to have read their warning. To be fair to MMM, this warning says there are no guarantees, investments, no securities, and even there are no rules. At the end of the warning, they also state you may lose your money and should only participate with spare money.
This seems quite reasonable, but I wonder how many consider this when they see the returns they can obtain, 210% or 240% per month.
Provide Help Get Help
After registering, you have access to your back office. Where there are 2 large buttons Provide Help or Get Help.
The next step you have to make a commitment. A commitment is a sum of money you are willing to put into the system to provide help. The minimum amount is $50. As soon as your commitment is made, you start to earn interest 7% daily for up to 30 days, 210% or 240% per month. You can achieve the extra growth by completing Facebook tasks (8% per day). By uploading a happiness video, you will get a bonus of 5% of your commitment amount.
Your commitment is converted into the MMM Global currency, the Mavros.
The next step is to provide help. This means you pay another member of the scheme some money which will be equal to the value of your commitment. This is, in fact, carried out in two distinct operations.
- You receive a Primary Order to Provide Help (PH), this will be for 20% of your commitment
- Then you receive a Secondary PH Order for 80% of your commitment
The PH orders must be paid within 48 hours. If you don’t make the payment in time, your MMM ID will be blocked.
That’s basically how the system works. MMM claims that members give help to each other. For the word help, you should read money.
one participant asks for help — another one helps
Can This Continue
If this latest scheme by MMM Global doesn’t get any bad publicity or the press doesn’t issue warnings that it might be a scam, then perhaps this will continue. One small warning in the press or a campaign on social media could have everyone panicking, withdrawing their money, and no new investors.
In this case, many people would lose their money.
Another reason not to trust MMM Global BTC is that when the Republic of Bitcoin closed, MMM stated that 100% per month was too much for them. Now they are offering up to 240%! This doesn’t really make much sense.
Referral commissions
There is also an incentive program to enroll new members. You are paid 10% on all donations your direct referrals make, and you earn 1% from their downline’s donations.
My Final Opinion
I am surprised that people are still ready to invest in the schemes devised by Sergei Mavrodi, a convicted fraudster who has been involved in Ponzi schemes since 1994. Unfortunately, the authorities aren’t able or don’t want to do much about stopping these schemes.
If you invest in a Ponzi scheme like this, early on, you can make money, and many people have made money with MMM Global. This is one of the reasons they can keep attracting new investors – positive feedback. On the other side are people who have lost money, 100’s of millions of dollars over the years, and possibly much more.
On their site, you will see many positive testimonial videos but remember members are paid 5% of their investment to post these. So don’t believe all these testimonials!
Investing in a scheme that offers returns of up to 240% per month is a big risk, and even MMM itself admits this. That said, some Ponzis keep going for years. For example, the Bernie Madoff Ponzi scheme some investigators think started in the ’80s or even the ’70s, which means it operated for maybe nearly 40 years.
So, you may make money for a while, but in the end, when there are no new investors or when many people want to take their money out of the system at the same time, the profits will stop, and the last people in will lose their money.
If you’re happy investing in a scheme like this, then take your chance; you may be lucky and get your money back or even make a profit. But only invest money you can afford to lose.
Before signing up, ask yourself if you are happy receiving money that could ruin someone else. Or if you get referrals, will you be happy knowing that your actions might cause their bankruptcy? I certainly wouldn’t be happy knowing this, and I don’t recommend MMM Global BTC.
Earning Money Online
It is possible to earn money online in an honest way, but it takes time and hard work. This is what makes these Ponzi schemes so attractive. You earn quickly with no work, but at the same time, you risk losing your money.
If you really want to learn how to make money online, check out this article. This is where I learned to build this site and create a passive income. It might be a lot of work but is completely legitimate and the rewards can make it worthwhile.
If you’ve been a member of MMM Global or MMM Global BTC and made/lost money, let me know about your experience. Or if you have any questions, please leave them in the comments below.
Thanks,
Peter
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MMM Global BTC
I would like to have your comments on MMM RETURNS ( https://mmmreturns.com/), which is a bitcoin investment project , might not be launched by Mavrodi himself . thanks!
Hi Philip,
MMM Returns seems to be another Sergey Mavrodi scheme although there seem to be conflicting reports as to who is behind the company. Whoever is behind the latest scheme, it is unsustainable and will only last a certain time. They say it will keep going until at least 2030, but I think it will fail long before that. As always I wouldn’t recommend investing any money in this or enrolling any new members.
Cheers,
Peter
has MMMglobalbtc crashed?
it has not been for the past 3days.
What’s happening pls?
Hi,
I wish I could tell you what’s happening. I have had a look online but can’t find any information. Maybe they will start operating again but if they do it’s just a question of time before they crash, so be very careful.
All the best,
Peter
Hi,
This is a great and selfless work! How i wish I had have access to this wonder piece of advise before i joined the scam called MMM GLOBALBTC sometime in September 2016. All seemed good until sometime December 2016 before the bubble finally busted yesterday-the site is down/gone.
I wish to be involved and take a legitimate risk. All hopes promised by these scammers are mirage with their useless philosophies and they often left you frustrated and poorer.
Kindly guide on real and legitimate scheme’s’ to invest in.
Thanks.
Hi Kunle,
Yes, I see the site has been down for a couple of days. I don’t know if they are upgrading their systems or if this is the end. In any case, these schemes will always finish someday and leave many people worse off.
If you are looking for something legitimate I think it’s best to start your own affiliate marketing business. It takes a lot of work and will be at least a few months before you start earning any money. To be successful it’s a good idea to follow a good training program. You can see my review of my #1 recommend training program here
Apart from that, I haven’t found any money making schemes that work, many promises much but are just out to take your money. Always search for reviews before investing in any make money online program.
All the best,
Peter
Hi peter,
Have you heard of growr.biz?… It promises a 150% profit on your investment. But I would like to inform everybody that my investment ended on the 26th of December and till now, I haven’t gotten my profit. Growr.biz have stopped paying out. Please help me spread the gospel as more people keep investing without knowing that growr won’t pay them. The scheme has failed. Please help tell innocent people.
Hi Dayo,
No, I haven’t heard of growr.biz. I just had a quick look and they promise a return of 150% in 50 hours. They have only been operation since 10/12/2016 and they are already having problems. I think any program that promises high returns like this should be avoided. How can they grow money at this rate? It’s not possible! They must rely on deposits from new members to pay out existing members. Looks like another Ponzi scheme to me. Thanks for letting people know about this! I removed your email address to stop you getting spammed.
All the best,
Peter
Good article. I’m a Nigerian adult blogger and I have been on HYIPs for several years now and as much as I know they’re a scam I still make profit and a lot of money through them. Here are a few rules I’ve learned to live by.
1. Never invest what you can’t afford to lose. No reasonable person goes into a Ponzi scheme with borrowed money/bank loans. It’s the reason behind most suicides when the scheme crashes.
2. Always join new programs as the earliest participants get paid in order to encourage new memberships.
3. Withdraw your capital once you get 100% of your initial investment.
4. Continue investing ‘if you must’ with your profit only.
5. Constantly withdraw profits until the system crashes.
6. Never be greedy. Be contented with the seemingly little profits you’re making. You won’t die if there are no HYIPs.
Some good rules that everyone should follow. It’s certainly better to only lose money you can afford to lose! However, I wouldn’t invest in any of these schemes because at sometime in the future they will collapse and people will lose their investments. Often, these people will be the ones that can least afford it. And I don’t want to be part of a scheme that may ruin someone’s life.
Thanks for your comment and best of luck,
Peter
Please how do I register. Its riskier not even taking risk.
Hi, try it at your risks and peril. You might make some money for a while but only invest what you can afford to lose because one day there won’t be any new members. To join just click on the green registration button in the top right corner of their website.
All the best,
Peter
pls do you know anything about winthrillsnetwork i heard is nice and it percentage rate is sustainable
Hi Stanley,
Sorry, I don’t know WINThrills network. I had a quick look at their site and they seem to have different investments and ways of making money. I haven’t had the time to check it out yet, I’ll add it to my list.
All the best,
Peter
hello, am here to inform you that winthrillnetworks.com is real and reliable cos they are into real estate investment programme.i have been with the company for more than two years now and they living up to their promises, company base in UK . For more information contact me :sampidoapaco@gmail.com.
Yes, I see they have some real estate investment programs. From what I understood from their site they also have some sort of advertising network.
Thanks for your feedback and glad it’s working for you.
Peter
Well am a participant in mmm global and it works. As d other sites it’s easy to clone if u are into web hacking and all. But I u want online opportunity that work join me for a free seminar.
Glad it’s working for you Paul. Just be careful and don’t invest too much of your money. I won’t be joining you for a seminar but wish you the best of luck.
Peter
How can a blocked mmm account be unblocked?
Hi,
Sorry, I don’t know the answer I suggest you contact support or search on Google. I see there is quite a lot of information about this subject.
Good luck,
Peter
Hi, am Guider OLA DAN, A 10K+ in MMM Nigeria on 15th and 16th of Sept 2016, i provided help of #100,000 each and 26th of Sept 2016 i provided another help of #500,000 total #700,000 and 13th of Oct 2016 i got help of #5,679,000 and the total money was paid into my bank account. God bless MMM Together we can change the world.
Thanks for your comment. Glad you have been successful with MMM up to now. But please don’t invest more than you can afford to lose because one day they will stop attracting new members and will cease to payout. This isn’t sustainable!
All the best,
Peter
Hey Peter, great MMM Global BTC review and nice work on exposing these scams.
It’s amazing how brazen these scams are, relentless almost. It’s too bad MMM Global BTC doesn’t put the same effort in a real online business.
I just wanted to applaud you on another great review and simply taking the initiative to follow you hunch on these guys. I’m sharing this review on all my social sites to help you get the word out.
Cheers,
Todd
Hi Todd,
I find it incredible that these scams are allowed to continue after all the misery and dashed hopes they have caused. As usual when people are promised great returns for doing nothing they jump at the opportunity. The early members will do quite well but the people who join this at the end will lose their money. This will cause them great distress and hardship. Anyone thinking of joining a scheme like MMM Global must be prepared to accept that everything could stop tomorrow.
Thanks for your compliments and shares.
All the best,
Peter
I support ur work on research I m a guider with MMM Nigeria . I was wondering if MMM global BTC is really a work Sergei Mavrodi now with this I believe it is his work. I’ve to join now because it pays in Nigeria . (affiliate link removed)They have not failed me since August 2016 till now. Thanks for the work
Hi Okebie,
Yes, MMM Global BTC seems to be the work of Sergei Mavrodi. If you join be prudent! I have read reports that many people in Nigeria have done well with the MMM scheme. But it is a question of how long it will keep going. Unfortunately, one day there won’t be enough new members to fund the program or the government may take action to stop it. Then the last people to join will lose their money. MMM might not have failed you to date but the future is never certain with a scheme like this.
Best of luck,
Peter
well explained but there is no connection between MMM and MMMGLOBALBTC. Do a little more research and you will see that Sergey mavrodi only operates MMM which is a country thing and there is no separate site for bitcoin transactions. Good write up though but truth be said
Hi Ruke,
Thanks for your comment. Strange you say there is no connection between MMM Global and MMM Global BTC, their websites are very similar both have the same photo of Sergei Mavrodi. On both sites when you click on the link “what is MMM” you are taken to a page that tells you about MMM. The start of each page explains what MMM is and how it works. The debut of these pages is identic. This is very strange if there is no connection between the two.
Thanks for taking the time to comment,
Peter
Hey.
Very interesting reading. I did not know anything about the MMM and wasn’t completely sure what a Pozni scheme is. Very simple and understandable explanation. I am surprised that the autorithies cannot stop this schemes for good, for some reason. I know the internet is full of similar scmas like this. Do you recommend any website where I can find them all in one place, to avoid getting scammed?
Have a great day.
Hi Peter,
Congratulations, you are doing great research about this. This scheme looks likes normal in our live. I also like your final find out.Sometimes even we are being careful to avoid this but we still being trap with their scam or fraud..
The best way is stick with the program that we know and proven can be trust (like wealthy affiliate 🙂 )
I believe this review can open people eyes on how easy we being trap with a scammers.
Thanks Hanny,
I know what you mean when you say this scheme looks normal. It just shows how used we have become to wild promises of easy money but unfortunately, there are still people who fall for all the hype.
When you have found a program you trust and they show you how to build an online business in a legitimate way, then stick with them. It’s not a good idea to put your money into a scheme like MMM Global BTC. They often create new schemes, that don’t last long, so who knows how long this one will be around.
Thanks for your visit,
Peter
Hi Peter, thanks for your sharing about the MMM Global BTC. I would prefer earning money online through those channels that require constant hard work, rather than the Ponzi scheme that promises the get rich quick method.
The concept of providing financial help to each other promoted within the scheme, while earning lucrative return doesn’t make sense to me as well. If that’s the case, the legitimate body like the bank and other financial institution would have been using this method to expand their customer base.
Thanks for your review. Now I come to know another Ponzi scheme out there that I should turn my back on.
Hi,
Yes, earning money in a 100% legitimate way is important for most people. Even if to do this requires a lot of time and hard work. I certainly wouldn’t advise getting involved in a mutual help scheme like this. It’s a question of time before they stop paying, the system clearly isn’t sustainable.
Much better idea to build your own business, work hard with determination and you can earn money. You will have more control in your future rather than waiting to see when a scheme like MMM Global will stop paying.
All the best,
Peter
Wow! MMM Global BTC is a bonafide Ponzi scheme if there ever was one. The founders are clearly psychopaths. Stealing people’s money and driving many to suicide. I’m not surprised Mavrodi went into politics.
I am surprised Moscow made an effort to curtail their schemes, but clearly, it wasn’t enough.
Thanks for exposing these greedy monsters.
I quite agree, Gary, I’m really surprised these guys are allowed to continue. Promising returns like this clearly isn’t sustainable, it’s just a question of how long this latest scheme will last. The only good thing about the program is that they do warn people they may loose their money and suggest they use spare money. Just shows the confidence they have in their scheme.
Thanks,
Peter