At least two persons have been arrested by the Police for allegedly luring some unsuspecting persons to subscribe unto the operations of MMM. The arrest, which was effected by the Tema Community One police over the weekend, follows a directive from the Bank of Ghana warning the public against doing business with the blacklisted ponzi … Read more
Analysts in the e-crime space have impressed the Bank of Ghana (BoG) to strengthen its collaboration with security institutions such as Interpol to stop the operations of ponzi scheme, MMM. They admit that the complex condition under which the company operates would require effective collaborations to be able to clamp down such operations. According to … Read more
The Bank of Ghana (BoG) is alerting the general public against the activities of a company called MMM Ghana, which is it says is operating a Ponzi scheme through a virtual office. According to the Central Bank, the company, which claims to have over 10,000 clients, moves from place to place and mobilises deposits from the … Read more
The Bank of Ghana (BoG) has cautioned the general public against the activities of a company called MMM Ghana, which it says is operating a Ponzi scheme through a virtual office. According to the central bank, the company claims to have over 10,000 clients, moves from place to place and mobilises deposits from the general … Read more
The Bank of Ghana (BoG) has cautioned the public against doing business with ponzi scheme, MMM. The caution comes after calls on the Central bank to halt the operation of the company following concerns over its credibility. It is not clear whether the Bank of Ghana (BoG) has stepped in to halt their operations as … Read more
The Bank of Ghana has warned the public against the activities of a company it says has been taking cash deposits from people without the proper licencing. According to the Bank, the operations of the company, MMM Ghana, constitute that of a ponzi scheme through a virtual office “hence anyone who does business with MMM … Read more
Ghana’s Central Bank has given a strong indication it will deal swiftly with the operations of a Ponzi financial scheme called the Mavrodi Mondial Movement popularly known as MMM. The scheme was recently banned in Nigeria but has moved to Ghana. The scheme encourages subscribers to donate money to members of the network for a … Read more
Many people in Ghana have lost money by investing in a Russian-backed Ponzi scheme which promises huge profits. The scheme, the Mavrodi Mondial Movement or MMM, was introduced in Ghana after it was banned in Nigeria. Ghana’s financial sector is currently struggling to recover from a major financial crisis involving Ponzi investment schemes. Millions of … Read more
THE MEANING OF MMM – In truth, MMM is a Ponzi scheme. Wikipedia defines a Ponzi scheme as “a fraudulent investment operation where the operator, an individual or organization, pays returns to its investors from new capital paid to the operators by new investors, rather than from profits earned through legitimate sources.” Ponzi scheme promises … Read more