Is MMM legal? I don't know for sure.
Is MMM good? It's not for me to say.
But should you put your money in MMM? I'll say a big NO.
No investment or help scheme that promises you 30% return a month, equal to 360% annual return, same as your money almost quadrupling in one year should be taken seriously. Especially when they make it clear that your money is not going to be put to any productive (commercial production) use and you will get your money + interest back from new members' money.
I deal with numbers almost everyday. For every one person that puts in 1 million in a year, you need about 4 people's money just to pay him back his original N1 million and the promised interest of N3.6 million. And those 4 people will need 16 people for them to get back their money with promised interest. And the 16 will need 64. The 64 will need 256. The 256 will need 1024. The 1024 will need 4096. Then it gets crazy when the original one person puts back N1 million from his N4.6 million. The calculation goes from geometric to exponential. And that is just in one year.
But the original one person got back his money, even with more returns than a typical savings account with a bank will give him in 10 years. Isn't that good?
For that guy, it is good.
Then shouldn't you try it? Again, a capital NO.
If you followed my earlier description of how the scheme requires 4 people to get you back your money with interest, then it should be clear to you that one day more people will be due for their money and there won't be enough people joining to generate that required payment. And everything will come crashing down. And like in Russia, where it all originated, some people would have put their entire savings + borrowed money in and upon losing it all will commit suicide. More people will lose their money than those who get their money out.
If people put in N1 billion, you can be sure that over N750 million will be lost. Actually, will be used to pay the first N250 million their returns.
The question I want you to consider is: what are my chances of being among the first N250 million?
Maybe you've already tried it and gotten your money back. Lucky you. If you feel tempted to go back in, then should ask yourself: am I not pushing my luck too far?
And if you find it too tempting to ignore, then please don't put your life savings in it. Put just what you can afford to lose.
If you want my sincere advice. It is this: don't cultivate a bad habit of trying things that are not sound or ethical just for sake of profit, addiction is real and surfaces when you've forgotten about the seeds, like this, that birth it. Think of those CEOs that get disgraced/jailed for shady deals and unethical business activities. It was little unethical gain seeking habits they cultivated when in the university, as young graduates and when little was at stake, and no one noticed, that pushed them to those damning end. So please stay far away from MMM.