Lessons forgotten? Alleged SA Ponzi ‘MMM Global’ hits reboot
MMM, the online Ponzi scheme that collapsed in South Africa and Nigeria in 2016, is attempting to reboot by offering a Bitcoin-based currency to all users around the world.
MMM, the online Ponzi scheme that collapsed in South Africa and Nigeria in 2016, is attempting to reboot by offering a Bitcoin-based currency to all users around the world.
Mike McDougall, CEO of the Actuarial Society of South Africa, was motivated to do some number crunching to show in simple, yet no uncertain terms, why ponzi schemes are destined to fail.
South Africa’s biggest unsecured loan provider, Capitec, revealed that it closed 2 000 bank accounts linked to Ponzi scheme MMM.