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MMM’s Investment Scheme Might Be Making A Comeback: Be Very Careful

Earlier this year, MMM Zimbabwe’s Ponzi scheme was laid to rest along with its founder. It seems mavro-BTC which was taking advantage of the Bitcoin craze last year and earlier this year had all but lost steam. The normal MMM which doesn’t rely on Bitcoin us back though and there have been some rumours. When […]

MMM was still alive in Zim; Some were earning as high as $500p/m, But It’s All Coming To An End…

After the recent death of MMM founder, it seems the guys – MMM that is – are finally closing up shop. Mavrodi Mondial Moneybox was a world famous online Ponzi scheme that took Zimbabwe by storm in 2016. MMM had a Bitcoin-based Ponzi scheme MMM simply refused to die (seriously, no pun intended) and in 2017 […]

Charcoal Irons, Zvihuta, Other Zimbabwe Zhets And Bitcoin. The Zimbabwean Context To Bitcoin

Sometimes I recall dates according to what zhet (hustle) was ‘the in zhet in Zimbabwe at that time.’ You remember ngoda (diamond rush), burning and the associated BACCOSSI, charcoal irons, zvihuta (quail birds), MMM..? Is bitcoin the same as these passing fads (some of them were nothing but scams really)? My answer to that is […]

MMM Zimbabwe is offering its members 1% of their account balance in account clearing exercise after 80% devaluation

READ: MMM Nigeria this is how MMM Zimbabwe crashed, very similar to what is happening to you now MMM Zimbabwe is still alive but barely breathing. Ever since the RBZ warned citizens against participating in the pyramid scheme and EcoCash distanced itself from any illegal activity conducted on its platform citing MMM Zimbabwe, Sergei Mavrodi’s  “global fund […]

Is EcoCash turning a blind eye on money laundering and illegal activities?

Econet’s EcoCash released a public statement today distancing itself from MMM Global Zimbabwe and any other illegal activities such as Ponzi schemes. In their public statement, EcoCash reminded us that it is a licensed mobile payment platform that facilitates financial transactions (sending & receiving money, buying prepaid airtime and paying for goods and services) for […]

RBZ is not prepared to deal with pyramid and ponzi schemes like MMM

Recently we published a story on RBZ warning the public against Ponzi and Pyramid schemes. The principal financial regulator fingered MMM Global Zimbabwe (MMM) as the biggest Ponzi/pyramid scheme offender. MMM dominated the discussion on this story, but I then realized that, by releasing the warning the RBZ has accepted and exposed itself. The RBZ is clueless […]

RBZ issues stern warning against participating in Ponzi/Pyramid schemes, points finger at MMM Global Zimbabwe for misleading the public!

The Reserve Bank of Zimbabwe issued a public statement yesterday, 25 August, warning the public against participating and investing in Ponzi and Pyramid schemes. According to the RBZ, Ponzi and Pyramid schemes tempt people into investing their money in lucrative investments and contribution systems with the promise of high returns. The RBZ further explains that a […]