This will be bad news to some nigerians.. MMM crashes in Zimbabwe!

Alot of people have lost thousands of dollars in Zimbabwe to a fraudulent online scheme known as MMM Global amongst them are vendors and civil servants. It left it's members hanging after cancelling it's services last week due to lack of advancement of new members.

MMM Global which solely relied on new members to be able to pay the old has left alot of Zimbabweans disappointed as soo many of them had joined the online investment scheme all in the need to make "quick money! "  the Reserve Bank of Zimbabwe had warned the people about the scheme and how it doesn't have legal admittance.

Some of the people who participated in the counted their loss and told the Herald about how they got an email from the scheme which said it was suspended till September 15.

MMM an acronym for Mavrodi Mundial Moneybox, this is a name taken after its founder and Russian called Sergei Panteleevich Mavrodi who founded MMM in the year 1989, the scheme died 3years later after it was declared Bankrupt then Mavrodi's  disappeared but was arrested in year 2003.

The federal government and central bank had warned Nigerians against investing in this scheme because it was a well plan season coated scam.