4 Secret Facts About MMM And Its Founder

Russian businessman and a former deputy of the State Duma, who was the founder of the МММ series of pyramid schemes died if heart aattack.

According to Russia media, the 62-year-old was rushed to the hospital late on March 25 with pain in his chest and died several hours later.

Here are four Hidden Facts about MMM and its Founder

1. MMM means Mavrodi Mondial Movement or Money Box: This scam of a scheme has been in various countries, with its root from Russia. MMM does not have a central account where all the money flows to (and where it can be easily stolen from) all the money is only on the bank of the participant themselves. MMM does not give interest, they simply reward you with 30% of any amount you render as help. MMM is based on trust of the participants, i.e. the system is completely for the people, in fact, MMM only regulates the process. This singular process is why we have a lot of mentally deranged men on the street.

2. MMM was a Russian company that perpetrated one of the world’s largest Ponzi schemes of all time in the 1990s. By different estimates from 5 to 10 million people lost their savings. It was founded in 1989 by Sergey Mavrodi, Vyacheslav Mavrodi, Olga Melnikov. With its headquarters in Russia. Before it came to Nigeria, it was practised in China, Zimbabwe, South Africa.

3. The scheme came into Nigeria in the 2015/2016: The scheme was prevalent in Nigeria around 2016, with the economic recession at that time, Nigerians had no other choice than to patronize the Ponzi merchant. From banks to hospitals, to government houses and even churches, everybody was an MMM merchant, we even had cases where the Central bank warned Nigerians against the tragedy that was looming, but then Nigerians had no time to hear, with the recession blocking their ears already they just needed to help themselves out. That help is why the suicidal rate in the country has tripled over the past two years. With people committing suicide after they learnt about the collapse of the scheme on Tuesday, December 13th, 2016

4. On March 26th, 2018 the owner of the scheme died of heart attack: The Russian media announced in the early hours of March 26th, 2018 that the Russian Ponzi master died of heart-related illness, according to them, he died of a heart attack. With the number of people who have lost lives, families, properties to this scheme, this is coming not as a surprise. Ponzi schemes are known for such.