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Died Sergei Mavrodi, Creator of MMM financial pyramid

In Moscow on 63-the m to year of life died Sergey Mavrodi – the founder of notorious financial pyramid MMM. His death was announced on Monday, March 26, the newspaper «Moskovsky Komsomolets».

Last night Mavrodi was hospitalised in 67-th city hospital with a heart attack where he died a short time later.

Telegram-channel Mash said that Mavrodi died at 6:40 am. «However, doctors somehow alerted the circumstances of his death, and his body sent to the judicial morgue for an autopsy», notes Mash. This report said that Mavrodi died at the Botkin hospital.

Sergei Mavrodi became known in the first half of the 1990s as the founder of a financial pyramid called MMM, which killed millions of depositors. The project fell apart a year before the 1998 default.

In 2007, Mavrodi was sentenced for fraud four years and six months in prison and pay more than 20 million rubles for 600 civil suits.

Upon his release, he promised «to do something» for the return of debts to depositors, but they returned only a hundred rubles.

In early 2011, Mavrodi announced the launch of a new project called «MMM-2011». In June of the same year, Mavrodi announced the collapse of the project «MMM-2011», recognizing that to resume the work of the project is impossible, and money for the return of contributions for all participants is not enough. In his address to «partners» Mavrodi said that because of the panic that arose after the suspension of the project, the restoration of his work is not possible. Then Mavrodi promised to return the money to all investors according to the «nominal plus 10% minus already received». The missing funds he promised to take from the «MMM-2012». The Federal Antimonopoly service has recognized the scheme «MMM-2011» and «MMM-2012» financial pyramids, reminiscent of the website NEWSru.com

We will note that Sergey Mavrodi in early 2012 conducted an active advertising of the project «MMM-2011» in Israel, is published in Russian-language media both on paper and online, the pyramid was also advertised on billboards.

In 2015-m to year it became known that Mavrodi building a pyramid scheme in South Africa. He called his new structure the «social network» and promised its participants a monthly income in the amount of 30%. In 2016, this fraudulent project was extended to Nigeria.

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Died Sergei Mavrodi, Creator of MMM financial pyramid
26.03.2018

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