More MMM victims come forward as losses run into millions

2017-07-20 14:23

Stories shared by numerous Fin24 users tell a tale of loss, regret and disillusionment, with victims losing anything from R500 to a combined toll of R1.3m from a single family group.

MMM scam victim warns of renewed hype, scare tactics

2017-07-10 13:04

A victim of the MMM scam has issued a warning that the online scheme is growing through its rebooted pyramid in SA, while previous "investors" are verbally abused for speaking out.

What SA's top 5 banks say about MMM

2016-06-10 07:30

As more and more MMM users complain about not being able to get cash from other users, SA’s top five banks respond to a query about the scheme's banking activity.

EXCLUSIVE: Capitec has closed 2 000 MMM bank accounts

2016-05-30 14:55

WATCH: Capitec CEO Gerrie Fourie says banks and regulators should work together to protect their clients from Ponzi and pyramid schemes.

MMM: Media and banks trying to help consumers - Asisa

2016-04-28 10:12

Many MMM investors believe banks are out to get them, but the truth is that the industry genuinely wants to protect them from products that will wipe out their savings, says Asisa.

MMM website issues fake News24 ‘apology’

2016-04-21 17:33

In an attempt to discredit the media and the SA government, a website appearing to be of MMM SA has published a fake apology from News24 for “blackmailing” the scheme.

MMM is luring stokvel members – CEO

2016-04-18 15:09

Stokvel members are being targeted to join the alleged pyramid scheme MMM, says Andile Mazwai, CEO of the National Stokvel Association of SA.


MMM: I lost R90 000 instead of becoming a millionaire in 6 months

2017-07-14 12:46

Disgruntled former members of pyramid scheme MMM have reported mounting losses to Fin24, with the current tally at R649 000 and set to rise.

WARNING: MMM makes comeback with new currency

2017-01-10 16:02

MMM, the Ponzi scheme that collapsed in SA and Nigeria in 2016, is attempting to reboot its scheme by offering a Bitcoin-based currency to all users around the world.

MMM: Capitec will unlock accounts if clients prove legit activity

2016-05-31 13:02

Capitec Bank says the onus is on clients to prove their banking activity is not fraudulent, after which it will unlock closed accounts.

Mathematical proof Ponzi, pyramid schemes will fail

2016-05-30 13:29

Faced with empty wallets and rising costs, South Africans are placing their faith in “get rich quick” schemes that lure desperate consumers with promises of unrealistic returns.

News24 demands MMM website remove fake apology

2016-04-22 07:18

News24 has ordered a website linked to alleged pyramid scheme MMM to remove a fake apology that seeks forgiveness for publishing stories about the Russian-created scheme.

MMM adviser: People can lose money from scheme - WATCH

2016-04-20 13:36

MMM members in it to make their fortune have joined with the “wrong motives” and could quite easily lose out, says a business consultant linked the scheme.

Alleged SA Ponzi scheme MMM’s global pyramid collapses

2016-04-12 07:57

Sergey Mavrodi's MMM Global Republic of Bitcoin scheme has collapsed, affecting the local branch of MMM Global.

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