MMM Global Review: Sergey Mavrodi’s MLM BTC Ponzi cult
There is no information on the MMM Global website indicating who owns or runs the business.
As per the MMM Global website:
There is no formal organization, no legal person in MMM. And of course there is no central bank account, no other activity in any form. Neither close, nor open. There is nothing!
The MMM Global website domain (“mmmglobal.org”) was registered on February 4th 2014, however the domain registration is set to private.
Further research reveals marketing videos uploaded to the MMM Global website blog. These videos are titled “weekly news” and feature Sergey Mavrodi.
Although not credited by name, Mavrodi’s photo also appears on the MMM Global website itself:
The “weekly news” videos on the MMM Global website are hosted on a YouTube account bearing the name “MMMGlobal”. In addition to Mavrodi’s news updates, the account has a plethora of testimonial videos.
Presumably MMM Global affiliates, the vast majority of those featured in the testimonial videos appear to be of Asian descent.
Primary countries MMM Global operates in appear to be China and India, with Alexa estimating that these two countries provide 34% of traffic to the MMM Global website.
Mavrodi (right) began using the “MMM” brand back in 1989, but it wasn’t until 1994 that it delved into Ponzi fraud.
MMM was established in 1989 by Sergei Mavrodi, his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken from the first letters of the three founders’ surnames.
MMM created its successful Ponzi scheme in 1994. The company started attracting money from private investors, promising annual returns of up to one thousand percent.
MMM grew rapidly. In February 1994, the company reported dividends of 1,000%, and started an aggressive TV ad campaign.
Since the shares were not quoted on any stock exchange and the company itself determined the share price, it maintained a steady price growth of thousands of percent annually, leading the public to believe its shares were a safe and profitable investment.
At its peak the company was taking in more than 100 billion rubles (about 50 million USD) each day from the sale of its shares to the public.
Thus, the cashflow turnover at the MMM central office in Moscow was so high that it could not be estimated. The management started to count money in roomfuls (1 roomful of money, 2 roomfuls of money, etc.).
Regular publication in the media of the rising MMM share price led President Boris Yeltsin to issue a decree in June 1994 prohibiting financial institutions from publicising their expected income.
The success of MMM in attracting investors led to the creation of other similar companies, including Tibet, Chara, Khoper-Invest, Selenga, Telemarket, and Germes.
All of these companies were characterised by aggressive television advertising and extremely high promised rates of return. One company promised annual returns of 30,000%.
On July 22, 1994, the police closed the offices of MMM for tax evasion. For a few days the company attempted to continue the scheme, but soon ceased operations.
At that point, Invest-Consulting, one of the company’s subsidiaries, owed more than 50 billion rubles in taxes (USD 26 million), and MMM itself owed between 100 billion and 3 trillion rubles to the investors (from USD 50 million to USD 1.5 billion).
In the aftermath at least 50 investors, having lost all of their money, committed suicide.
Several organisations of “deceived investors” made efforts to recover their lost investments, but Sergei Mavrodi manipulated their indignation and directed it at the government.
In August 1994 Mavrodi was arrested for tax evasion. However, he was soon elected to the Russian State Duma, with the support of the “deceived investors”.
He argued that the government, not MMM, was responsible for people losing their money, and promised to initiate a pay-back program. The amount ultimately paid back was minuscule compared to the amount owed.
In October 1995, the Duma cancelled Mavrodi’s right to immunity as a deputy. In 1996, he tried to run for Russia’s presidency, but most of the signatures he received were rejected. MMM declared bankruptcy on September 22, 1997.
While it was believed that Sergei Mavrodi left Russia and moved to the United States, it is possible that he stayed in Moscow, using his money to change apartments regularly and employ a group of former special agents.
With the help of a distant relative he started Stock Generation Ltd., another pyramid scheme.
Despite a bold-letter warning on the main page that the site was not a real stock exchange, between 20,000 and 275,000 people, according to various estimates, fell for the promised 200% returns and lost their money.
According to U.S. Securities and Exchange Commission, losses of victims were at least USD 5.5 million.
Mavrodi was found and arrested in 2003. While in custody, Mavrodi was given until January 31, 2006 to read the documents in his fraud case against him (The criminal case consisted of 650 volumes, each 250-270 pages long).
At the end of April 2007, Mavrodi was convicted of fraud, and given a sentence of four and a half years.
Since he had already spent over four years in custody, he was released less than a month later, on May 22, 2007.
He later went on to creating yet another pyramid scheme called MMM-2011. (Wikipedia)
MMM-2011 saw the introduction of “Mavro” Ponzi points.
In January 2011, Mavrodi launched another pyramid scheme called MMM-2011, asking investors to buy so-called Mavro currency units.
He frankly described it as a pyramid, adding “It is a naked scheme, nothing more … People interact with each other and give each other money. For no reason!”
Mavrodi said that his goal with MMM-2011 is to destroy the current financial system, which he considers unfair, which would allow something new to take its place.
MMM-2011 was able to function openly as Ponzi schemes and financial pyramids are not illegal under Russian law.
In May 2012 he froze the operation and announced that there would be no more payouts.
In 2011 he launched a similar scheme in India, called MMM India, again stating clearly that the vehicle is a pyramid. He has also launched MMM in China.
He was reported to be trying to expand his operations into Western Europe, Canada, and Latin America.
As of September 2015 it had spread rapidly in South Africa with a claimed 1% per day or 30% per month interest rate scheme and warnings from both the South African and Russian Communist Parties for people not to participate in it.
Mavrodi’s latest Ponzi fraud iteration saw MMM Global launch last year. Amid ongoing financial instability in China, MMM Global is currently being heavily promoted there as a vehicle to launder dirty money out of the country.
Due to inaction on behalf of Russian authorities, Mavrodi remains at large.
Read on for a full review of the MMM Global MLM business opportunity.
The MMM Global Product Line
MMM Global has no retailable products or services, with affiliates only able to market MMM Global affiliate membership itself.
Once signed up, MMM Global affiliates can then invest in “Mavro” points, which enable them to participate in the MMM Global income opportunity.
The MMM Global Compensation Plan
The MMM Global compensation plan sees affiliates invest in Mavro points. Transfers in and out of MMM Global are done through BitCoin.
Mavro Points ROI
The value of Mavro points is determined by MMM Global, with the scheme promising a ‘rate of growth from 20% to 100% per month‘.
Affiliates can guarantee a 100% a month ROI by investing in “special Mavro (Mavro-Extra)”.
After buying these Mavro you have to go to the appropriate section in your PO, which is called MMM Extra. On the Extra’s main page you will find the list of current web-tasks.
In order to make your Mavro grow up to 100% per month you have to perform these tasks on daily basis and your Mavro will grow on daily basis as well.
The nature of these required tasks is not disclosed on the MMM Global website.
The conclusion is: if you perform tasks from MMM Extra every day, your Mavro will grow at the rate of 100% per month; if you don’t perform any task, your Mavro will grow at the rate of 20% per month only.
Note that in order to withdraw funds from MMM Global, all affiliates are required to invest within 36 hours of joining the company. Failure to do so results in affiliate account termination.
How much money is required to be invested is not disclosed, with MMM Global stating only that all affiliates are sent an “order (to) provide help” shortly after signing up.
In addition to a 10% direct referral commission, paid out on funds invested by personally recruited affiliates, a residual unilevel referral commission is also available.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates go on to recruit new affiliates of their own, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
Commissions are paid out as a percentage of invested funds, with how much of a percentage determined by what level of a unilevel team an investment is made:
- level 1 (personally recruited affiliates) – 5%
- level 2 – 3%
- level 3 – 1%
- level 4 – 0.5%
- level 5 – 0.3%
- level 6 onwards – 0.1%
Joining MMM Global
Affiliate membership with MMM Global is free, however affiliates must invest funds within 36 hours of joining the company.
Order for providing help comes to you in your Personal Office. If you do not complete it within 36 hours, you will be removed from the System!
The MMM Global websites suggests the amount demanded from an affiliate will be between $10 to $10,000.
From the MMM Global website;
Justice, kindness and honesty in the modern world are not a myth and fantasy any more, MMM has made them reality!
By joining our forces, TOGETHER we can change the world!!! Long live MMM! Long Live Sergei Mavrodi!!!
That anybody continues to invest in Mavrodi’s schemes is nothing short of remarkable.
Here we have a convicted fraudster, pushing the same brand of Ponzi fraud since 1994, only now with BitCoin as the investment vehicle.
Otherwise it’s pretty much the same ideological bullshit Mavrodi originally came up with.
The MMM Global website is littered with “rage against the government” type spiels.
In one video banking customers are referred to as fleas:
Have you watched? Who is it about? About fleas? Or about us? The people who were born in the bank system?
Don’t you sometimes think that you were born for greater things? Not for glass jars, not for the dullness and hopelessness that surrounds you today?
Not to be forced to work hard from morning till evening for somebody else and get miserable pennies for this hard work? And spend all your life on this!
The only life you have, because you won’t get another one!! Never!!!
I’m not here to defend modern banking, but under no circumstances do the shortfalls of the system justify Ponzi fraud. This is the same emotionally manipulative bullshit Mavrodi has been using to rip off victims for years.
There is no formal organization, no legal person in MMM. And of course there is no central bank account, no other activity in any form. Neither close, nor open. There is nothing!
There are only millions and millions of simple participants, simple private persons. And their bank accounts. And nothing more.
MMM is absolutely legal and does not break any laws. Because there are only money transfers between private persons and nothing more.
Mavrodi quite obviously oversees transfers between MMM Global investors throughout the BitCoin ecosystem, with bank accounts under his control attached to these transactions.
Having previously ripped off Russian and US investors, Mavrodi has now set his sights on Asia. Authorities in China and India are unlikely to go after Mavrodi, who is believed to be hiding out in Russia.
Russian law aside, Ponzi schemes are illegal the world over and for good reason. Mavrodi’s past MMM Ponzi scams have generated losses in the billions.
Having only just launched in 2014, MMM Global is still in the “honeymoon” Ponzi phase, pushed along by gullible investors in India and China (both currently Ponzi hotbeds).
I did initially think it strange that so many testimonials featured on the MMM Global website, but later learned investors are credited with a 5% investment bonus if they make a video showing their face. Only a 3% bonus is awarded if it’s voice-only (no face).
The use of BitCoin is immaterial to the fallacy of paying out more than is invested, with MMM Global yet to hit critical mass.
That said it is a given that, dollar for dollar, the liability generated by Mavro points far exceeds available funds.
It is only that affiliates are busy hoarding Mavro points that keeps the scheme from collapsing. Nonetheless, over time as more and more affiliates start putting in sizable daily or weekly withdrawals, there’s still only so much newly invested funds to go around.
At that point the BTC transfers will go dead. Mavrodi, as he’s done before, will do a runner with whatever he’s been siphoning off the top and go into hiding.
The use of BitCoin guarantees no regulatory agency will be able to clean up the aftermath of the MMM Global bubble bursting, which is pretty worrying.
The good news is the BitCoin community are aware of the potential impact schemes like MMM Global are having on the cryptocurrency industry.
The bad news is currently nobody seems to be able to do anything meaningful about it.
the scheme in india was/is called ‘mavrodi mondial moneybox’ india.
in 2013 three russian promoters [Adrei, Denis and Mikhal Gulkhov], and a few locals were arrested first in guwahati and then by mumbai police.
the mumbai high court gave bail to two russians [dont know what happened to the third] as the chargesheet had been filed. they later went to guwahati to respond to the case filed there and i have no idea where they are now. but india’s borders in the north east are very porous.
mavrodi himself is wanted in india, but i don’t see him coming to india anytime soon.
and if mavrodi is in russia, why is russia protecting him? is ponzi money welcome in the russian perestroika?
Russia’s approach to Ponzi fraud is more aligned with Asia than the west.
They know it’s happening but don’t really care unless it completely spirals out of control. Then they’ll move in but by then it’s too late.
Investigations in the west seem to be initiated quicker, even if we don’t see the end results till months/years after.
Despite the number of schemes originating from there, I don’t recall a Russian MLM Ponzi bust taking place recently.
in february, 2015 mavrodi sent a text message to russian phones announcing his latest reinvention of the MMM ponzi.
in response, the russian central bank issued a public warning:
and russia still does not have any anti pyramiding laws:
why does russia need to invent some new definition of pyramid schemes? why cant they borrow an existing definition from the world? a failing economy and no ponzi/pyramid law is such a perfect environment for fraud schemes to germinate in.
and believe it or not, in the past month of november, 2015, bitcoin has surged to double its value, due to the ponzi scheme MMM:
MMM participants have to purchase bitcoins, and transfer bitcoin to each other. this has upped the value of the bitcoin. if the price of bitcoin can rise on the back of a ponzi scheme, this is very bad news for the cryptocurrency market, and raises doubts about the viability of such anonymous currencies.
last year the collapse of the cryptocurrency exchange mt. gox, caused bitcoin to lose 3/4th of it’s value. when MMM collapses, it will erode bitcoin again. such extreme fluctuations in bitcoin, will make it a high risk currency and why will the world adopt such a risky currency?
They’re trying this same Sergei Mavrodi “MMM Global” crap in the Philippines, too:
Anyone who has not Googled this con artist’s name and educated themselves as to what a complete fraud he is deserves to lose their money like the Russians and Indians did.
The well-documented story of the StockGeneration Ponzi Fraud that he ran after he stole billions from the Russians can be found here:
1. The ponzis are illegal in Russia.
The dificult part to prosecute mmm-201x scemes comes from there is no deceit , if a ponzi openly says it is a ponzi, and there is no company or single place where money are going too, the fraud laws could not be enforced.
2. Mavrodi is in Russia but hiding, do not assume he is protected there, in fact he is wanted across the entire federation.
3. There are recent ponzi busts in Russia, several offline, targeting russian population. There was almost never a ponzi out of Russia which equally targeted russians and foreign investors at the same time.
Those which target only foreigners cannot be investigated without participation of foreign authorities, which never happen.
The current laws were enough when fraud is present. The open honest ponzi cannot be treated as fraud, maybe as gambling or a new type of money game.
The new bill was needed to address this, plus also puts criminal responosobilities on promoters, participants as well as operators.
Not very helpful to quote a sensationalist FT piece written by a known Bitcoin skeptic, that is led with a completely unverifiable claim.
That price spike had many possible causes, including changing Chinese bank attitudes to Bitcoin purchase.
Truth is no-one, especially Mavrodi to whom any publicity is good, knows how much of Bitcoin’s price rise is due to MMM, but the idea that all investments have to be made in Bitcoin is completely false.
S Africa is a big MMM growth market, a perfect environment full of unsophisticated strivers with a distrust of the ‘system’, and the majority of deposits and transfers there are being made in Rands without a doubt.
The Bitcoin community as represented on BitcoinTalk is fully aware of the negative connotations of association with Mavrodi, as well as being hostile towards his shills there’s some sympathy for his victims.
Many of us all over the world are pushing back hard in various ways against this crap, both locally and online. Even our Caveat Emptor libertarians see the danger in it.
But as you know, in the ponzi and MLM worlds when greed is the button that is being pressed, people only hear what they want to.
Meanwhile, on social media, first timers are posting pics of three piece suites they’ve just bought for their Ma’s and holding “Long Live MMM” parties.
Well I’m in MMM Global and I have read everything on the subject and I agree with Sergey and in what he is doing.
The banks rob us daily and there is nothing we can do about it. At least here we are making some money without the banks taking our hard earned money.
I love this idea and think it’s the greatest thing we can do. I’m tired of the bank and the government living off the sweat of my back.
Long live MMM Global. And I could care less what anyone thinks about me doing this.
What the banks do or don’t do does not justify you ripping people off through a blatant Ponzi scheme.
That’s sadly the bottom line. Oh well, at least you acknowledge your scamming.
Who am I hurting when I send someone 200 dollars. I can send my money to anyone I want it’s no ones business what I do with my money and if someone wants to send me 500 who’s business is it? No ones. It’s a free world and we can do what we want with our money or is that wrong of us.
You’re hurting the victims you financially rip off.
Whatever you have to tell yourself to sleep at night. There is no justification for Ponzi schemes like MMM Global.
(Ozedit: If you wish to discuss government programs do it elsewhere. MMM is an MLM Ponzi scheme and by participating, you are a scammer.)
(Ozedit: If you wish to discuss the banking system, do it elsewhere. MMM is an MLM Ponzi scheme and by participating, you are a scammer.)
As I said this is an “honest” Ponzi scheme. How is this fradulent when participants know what they’re participating in and how their money is being used?????
It’s not like MMM is Guaranteeing 100% Per Month.
When MMM closes, and the value of Bitcoin crashes; Buy Buy Bitcoin at the bottom!
not the old “it’s an honest ponzi if everyone knows what they’re participating in” justification for participating in an illegal fraud.
Goodness, I haven’t heard that one being used for years.
* So, you’ve spoken to “everyone” have you and they’re all on board ???
* There’s no true believers who think they’re participating in a legitimate cryptocurrency ???
* Illegal is illegal is illegal. Knowing something is illegal doesn’t alter the fact it is illegal.
“It’s an honest ponzi” my a**
There’s no such animal.
Honest Ponzi is a strawman defense. It’s akin to an “honest murder” or “honest rape”.
But yeah, keep trying to justify investment fraud.
So that somehow makes it legal?
Your “not a fraud” defense only works if this is simple fraud. It’s not, as it’s also unregistered securities among many other things. This is not something you can “disclaim” out of. If it were that easy every fraud would be followed by volumes of disclaimers (most of which would be invalid).
You’re only doing it because you expect to be paid back more in return.
Which makes you no different than the poor fools who got taken in by MAKE.MONEY.FAST chain letter almost 30 years ago… other than your assertion that you have to right to be stupid. While you technically do have the right, most people don’t try to assert such.
In the philippines all entry of MMM accounts were set to zero staring yesterday, Jan. 8, 2015.
They will pay the accounts set to zero, if other accounts will input more money to level the existing accounts balance and withdrawals.
The leader/manager/guider were promoting MMM because they believe in Mavrodi, fooling lot of filipino investor.
Dont Join this Scam.. I put money after 30 days my Money is ZERO!! its GONE!! ZERO BALANCE, I DONT UNDERSTAND WHY!! JAN 8 ZERO…
Is MMM getting reset? I had a pending deposit, two days ago I log in and see my account got blocked.
Fortunately the money never left my BTC wallet so I am at zero loss/gain. What is going on with MMM?
Not enough new members joining = not enough money to pay old members.
There are no “outside sources of income” to speak of, so where is the money to pay you coming from ??
Sounds like it’s collapsed then?
in november, 2015, Yury Chikhanchin, the Director of the Federal Financial Monitoring Service in Russia, warned of an imminent collapse of MMM in china.
it also seems that sergie mavrodi is freely traveling around the world as:
and it seems mavrodi credits his MMM ponzi scheme for the rally in bitcoin beginning in november 2015:
so, mavrodi travels freely and gives interviews to the press? russia cant do anything?
Possibly. As of this writing Alexa shows MMM is on the up and up, with daily page views and average time on site going up. Bounce rate is going up however. (source: alexa.com/siteinfo/mmmglobal.org)
No outside sources of income besides new participants. Remember, MMM states this on their website; and members agree to it in the terms. With this stated on the website, how is MMM a fraud?
I hope you didn’t put your rent money into MMM, only play with what you can afford to lose.
Because a Ponzi scheme is investment fraud.
If I tell someone I’m going to murder them and then proceed to do so, it isn’t any less of a crime. Stop being a dumbass.
lol. wacky scammers.
Agreements agreeing to illegal behavior are not legally binding. If you believe that a “disclaimer” can make illegal behavior legal, that would explain how you fell for this load of ****.
I had a look into this today and wasn’t able to independently verify MMM China collapsed. There’s that Russian warning but that’s about it (some Facebook email about withdrawal suspensions but who knows where that came from).
Some BehindMLM readers are reporting withdrawal problems in MMM Global, which would be indicative of a collapse.
Waiting for further confirmation before penning anything though.
FT alphaville had a correspondence with sergei mavrodi in november 2015:
you can read the whole correspondence here, alongwith a short video of mavrodi himself:
infamous ufun scammers casey tan and lyn summers are heavily promoting the MMM ponzi scheme.
9 hours ago casey tan wrote on lyn summers FB page:
Take two, account unblocked (blocked after first wager because I didn’t send the Bitcoin within 36 hours), and wagered $10 in BTC into MMM Global. Well see if I financed somebody else or be financed a “win”.
and now china warns its citizens against mavrodis MMM global ponzi scheme:
the chinese site caixin also informs:
here is a recent video from mavrodi, dated 10 jan, 2016, in which he uses fear mongering tactics to promote his MMM ponzi:
from where is mavrodi recording all this and putting it out in the world?
i mean, it was easier to find osama bin laden rather than mavrodi? who’s protecting mavrodi?
voices from chinese MMM global participants:
whats that ^^ about MMM leaders being killed? is it a translation error?
MMM global has spread in africa too, with the south african NCC [national consumer commission] initiating an investigation into the scheme in sept, 2015.
justmoney.co.za, sept 15, 2015:
with governments wisening up to sergei mavrodis rinse and repeat ponzi scams, he may soon run out of luck.
Thanks for staying on top of this one Anjali. I’ll try to keep a closer eye on it as MMM Global’s collapse probably isn’t too far behind.
and now, SA bank capitec is freezing client accounts linked to MMM global, for suspicious activity.
Thanks for the update Anjali.
That was incorrect information, perhaps it meant his video address demonstrated there.
According to my sources he never left Moscow since 2012, after the arrest record was issued on him. He still uploads bi-weekly youtube videos shot from the same shitty apartment he is hiding in.
His youtube channel: youtube.com/channel/UCSgK3I3_EpjYPfnW45A-yWw
Mavrodi said exactly the same words about 2015 in one of his videos for Russian, Belarussian and Kazakh branches of MMM. You may not know, but in September MMM was shut down in these countries because of rumours about anti-pyramid law being developed in Russian State Duma.
Also former MMM participants there cannot enter MMM Global, unless they’re using Tor or other services to pretend they’re participating from another country.
If you’re trying to access MMM Global website from a Russian IP, it will redirect you to Google homepage.
No, it’s not his channel. This channel was created by other people who tried to copy MMM site, probably former MMM leaders. They just repost his videos from MMM Global and other channels.
After MMM shutdown they started to promote other Ponzi scams. They even recycled old “weekly news” to imitate activity in MMM.
Mavrodi used to upload videos on a YouTube channel called “Василий Гроссман”.
sir can you tell me about Get Help why Get Help is pending from long time.
Slowdown of newly invested funds = longer withdrawal times.
how much time to solve this issue.
How long is a piece of string?
You don’t understand, do you?
Things will NEVER improve. Once news of slow down got out nobody will be willing to put money in (except the really idiotic ones who do no research) which means fewer and few people will get any money…
Your issue will never be solved. Based on earlier experience from Russian branch of MMM, there are two ways to slow down and eventually stop payments.
First one uses the hidden features of your backoffice, which are only available to administration (in Russia that was called KRO, I don’t know what name they took in Global).
You are told in MMM that all the requests are processed by dispatcher program. That’s a big lie, as everything is still done manually by admins. They can access any backofiice and do whatever they want.
So to stop payments, they go to your settings and change them using the admin-only tool “Never create withdrawal orders”.
The second one also is linked to admins and “automatic” request assignment. What happens there is that orders to get help are actually created and assigned. But the majority of them (or in the worst case all orders) are fake orders made by admins.
They might have valid personal information inside, but “people” never get in touch with you in chats or by phone. When the time runs out, they create new orders, mostly same fake ones.
And by the way, do you really know who receives your money when you “provide help”?
When Russian branch of MMM was shut down in September 2015, backoffices were still available for some time. Some top leaders got refunds (amount of your latest investment minus received payments plus 10% interest rate) from admin accounts which were used to accumulate money.
They formerly had info on “real people who wanted to get help”, but were quickly changed to some “MMM 1” or “MMM 10”. Only then everyone saw where were the money.
Why can’t d financial institutions live ds guy alone. Is it not people money ….its not the financial institutions money.
And from Wikipedia I can see the government and financial institution are responsible for the crash. Let’s try something different from the banks pls.
Like what, giving Sergey Mavrodi your money in a Ponzi scheme?
Yeah, that worked out swell.
According to Russian media, Sergey Mavrodi has died in Moscow this morning at the age of 62.
It is claimed that he had a sudden heart attack on a bus stop, other sources claim that he was at home at the time.
Thanks for the heads up.
I wonder what happens to all the bitcoin he stashed over the years. And perhaps now the various MMM scams still in operation will finally fizzle out for good.
so an international ponzi king was staggering of a heart attack all alone at a bus stop and some kind passerby called an ambulance and he died at hospital no 67….
^^this is what it came to at the end, after all the decades of scamming.
hope mavrodi got a kick out of his scamming while he was alive because it seems like too much trouble for nothing at all.
Why must the good always die young?
Dead on a bus in the freezing Moscow winter. As per Anjali, it doesn’t speak much for the Ponzi dream of retiring on a Thai beach with millions of other people’s money.
Mavrodi was one of the most well-known Ponzi pimps of all time, and according to Wikipedia, never paid any price other than $390 in roubles and a four-year prison sentence. And yet he died a tramp’s death.
One of the greatest pyramid masters continues from the grave: