Sentences with phrase «mmm ponzi»
tl; dr — Bitcoin is trading at a 70 % premium in Nigeria because the MMM ponzi scheme is at peak popularity in that country.
http://links2exchange.net/
After his release in 2011, the MMM Ponzi scheme resurfaced only that now Mavrodi's target market became the African continent.
The MMM Ponzi scheme was unsustainable because it was based on faulty principles.
«As a chartered fraud examiner, when the scam called MMM ponzi scheme came with its 30 per cent interest in 30 daysearly last year, I told people then that it was a fraud but many refused to listen and some of them later learnt their lessons in bitter ways.»
Not exact matches
A Bloomberg article suggests that cryptocurrency's big breakthrough in the country occurred in 2016, when scammers conducting a long - running Ponzi scheme known as MMM began demanding payment in bitcoin because the government had started targeting their bank accounts.
As many Nigerians, specifically the participants of the popular Ponzi scheme, Mavrodi Mondial Moneybox known as MMM, are hoping to unfreeze their accounts, the scheme had dump the use of Naira as mode of payment by introducing Bitcoin as the best performing currency.
Operators of Mavrodi Moneybox Mundial (MMM) Nigeria have set a temporary fund withdrawal limit for its participants as the level of investment in the alleged Ponzi scheme dipped since its return from a one - month hiatus on January 13.
With about three million Nigerians involved in the scheme and huge investments at stake, the freezing of the MMM's accounts a month ago had sparked fears that the ponzi scheme had crashed.
Mavrodi Mondial Moneybox, a Ponzi scheme known simply as MMM, on Friday opened for business after one month of break, but investors in the scheme have remained stranded as they still can not access their funds.
As the year grinds to an end, ponzi scheme, Mavrodi Mondial Moneybox, otherwise known as «MMM», has been identified as one of the top ten issues...
The Senate Committee on Banking, Insurance and other Financial Institutions has warned that the ponzi investment scheme, MMM, is a pyramid that would soon burst.
Dubbed the «Malaysian MMM Global Ponzi clone,» BitKingdom solicits investment in bitcoin on the promise of a 120 percent return on investment after 20 days.