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Nairaland Forum / Nairaland / General / Investment / Sergei Mavrodi, MMM Founder Dies At 62 See Photos (266 Views)
Sergei Mavrodi: MMM Founder Buried In Closed Coffin (pic, Video) / MMM Shuts Down Operations And Site After The Death Of The Owner, Sergey Mavrodi / Sergei Mavrodi, MMM Founder Dies At 62 (2) (3) (4)
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Sergei Mavrodi, MMM Founder Dies At 62 See Photos by kboylee: 2:24pm On Mar 26, 2018 |
Sergie MMM Founder Dies At 62 Russian businessman Sergei Mavrodi, whose MMM pyramid scheme deprived millions of Russians of their savings in the 1990s, has died of a heart attack, according to Russia media. Reports said the 62-year-old was rushed to the hospital late on March 25 with pain in his chest and died several hours later. Mavrodi's MMM financial pyramid was a typical Ponzi scheme in which earlier investors receive their profits from subsequent investors. Mavrodi promised returns of 20 percent to 75 percent a month, as well as lotteries and bonuses for investors. As soon as the number of new clients stopped growing, the pyramid collapsed, causing huge financial losses for at least 10 million people, in some cases leaving them destitute. FULL NEWS https://naijacoolspot.com.ng/sergei-mavrodi-mmm-founder-dies-62/ |
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