Being one of the most notorious MLM Ponzi schemes to date, MMM Global practically needs no introduction. MMM Global was founded by Sergey Mavrodi and has origins in Russia dating back to 1989. Over the past few years MMM Global has embraced cryptocurrency fraud. In addition to the central scam that collapsed in April 2016, [Continue reading…]
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For some, the death of MMM Global founder Sergey Mavrodi earlier this year marked the end of an era. For others it presented a shameless opportunity to continue scamming people in his name.
Overnight a reader sent me a link to a YouTube video, in which a seemingly resurrected Sergey Mavrodi smiled awkwardly and help up a sign. On first viewing I knew something was off about the video but initially I couldn’t figure out what. I felt like I was watching a CGI video, but only so [Continue reading…]
Following the death of their golden goose, Russian scammers tracked down a Sergey Mavrodi lookalike. After initially agreeing to be the “new” face of the MMM Global, Vladimir Fomin has revealed how “people from Moscow” hoped to resurrect the notorious Ponzi scheme.
When I first learned of Sergey Mavrodi’s passing earlier today, my first reaction was “What is he pulling this time?” Such has been the staying power of Mavrodi’s MMM Global since it first popped up in 2011. Without a doubt MMM Global is one of, if not the most pervasive fraudulent schemes in MLM history.
Peru has grouped some of the top MLM Ponzi schemes doing the rounds and issued a collective consumer warning. The warning was issued on September 9th by Superintendencia De Banca, Seguros & AFP (SBS), Peru’s top financial regulator.
I don’t know what it is about Nigeria and the MMM Global Ponzi scheme, but for some reason locally scam refuses to die out. Despite having collapsed three times beginning last December and resulting in an estimated $57 million dollars in losses, MMM Nigeria continues. Criminal action has been taken against at least one MMM [Continue reading…]
Following the collapse of MMM Nigeria a few months ago, it was estimated that some 3 million Nigerians together lost $57 million dollars. Following a criminal complaint filed by two affiliates, now one MMM Nigeria affiliate is facing up to fifteen years in prison.
One of the more pervasive Ponzi schemes that refuses to die is MMM Global. Founded by Sergey Mavrodi and with origins dating as far back as 1994, MMM Global collapsed last year. Due to the scheme using bitcoin and Mavrodi walking away scott free, total investor losses were never quantified. The aftermath of MMM Global’s [Continue reading…]
MMM Reunited provide no information on their website about who owns or runs the business. The MMM Reunited website domain (“mmmreunited.org”) was privately registered on January 29th, 2017. Alexa currently estimate that the US (53%) and Nigeria (25%) are the top sources of traffic to the MMM Reunited website. This suggests that whoever is running [Continue reading…]