Sergey Panteleevich Mavrodi (Russian: Серге́й Пантелеевич Мавроди; born August 11, 1955) is a Russian criminal a former deputy of the State Duma. He is the founder of the МММ series of pyramid schemes. In 2007 Sergei Mavrodi was found guilty in a Russian court of defrauding 10,000 investors out of 110 million rubles ($4.3 million).

MMM activities

In 1989 he founded MMM.

He was then elected to the State Duma,[6] thereby obtaining parliamentary immunity. Mavrodi declared MMM bankrupt on December 22, 1997, then disappeared, and was on the run until his arrest in 2003.[7]

In 1998 Mavrodi created Stock Generation,[8][9] allegedly a classic pyramid scheme presented as a "virtual stock market game".[1] The website ran from 1998 to early 2000. The Massachusetts district court initially found that U.S. Securities and Exchange Commission was unable to cite Stock Generation's founders and owners for securities violations. However, the United States Court of Appeals reversed this decision in 2001, concluding that the SEC alleged sufficient facts to state a triable claim.[10] In 2003 the SEC obtained permanent injunctions against SG Ltd. and relief defendants SG Perfect and SG Trading, which profited from the disbursement of funds fraudulently gained by SG Ltd.

On April 28, 2007, a Moscow court sentenced him to four and a half years in a penal colony. The court also fined him 10,000 rubles ($390).[7]

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!"[13] 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.[14] In May 2012 he froze the operation and announced that there would be no more payouts.[15]

In 2011 he launched a similar scheme in India, called MMM India, again stating clearly that the vehicle is a pyramid.[16] He has also launched MMM in China.[17] He was reported to be trying to expand his operations into Western Europe, Canada, and Latin America.[14] As of September 2015 it had spread rapidly in South Africa with a claimed 1% per day or 30% per month interest rate scheme[18] and warnings from both the South African and Russian Communist Parties for people not to participate in it.[19] In early 2016, he continued the same model in Zimbabwe (the accounts were frozen in September 2016), and later, in Nigeria (accounts frozen in December, 2016).[20] [21]

Book

In 2008 Mavrodi published the book "Temptation". In May 2008, bailiffs arrested Mavrodi's rights to this book. Seven thousand copies of the book were published.

Details extracted from https://en.m.wikipedia.org/wiki/Sergei_Mavrodi

you don start again...u people will not allow this matter die down, haters of Mmm. it will be back bigger n better in January just like ultimate cycler and all of you will be put into permanent shame.

As you can see without Mmm, social vices will come up again and on the rise. Mmm has done a lot of good for this country as a nation than damage. Now people have remember there is recession, it has been Mmm that have shifted people's attention all the while. I just hope for a better society and better people.

Op just shut up. His name is ugorji mavrodichukwu. Everybody money don enter voice mail, case closed.

Are you aware of the open letter Mavrodi sent to FG?
READ THROUGH https://www.nairaland.com/3524006/see-open-letter-mavrodi-mmm

And if you are totally lost for words, we assure you you cannot go wrong with El Nathan John’s tweet here:
If MMM Nigeria are as smart as I think they are, this is not final. It will come back January, restore confidence, then crash big time.
— Elnathan John (@elnathan_john) December 13, 2016

Goddey18:
And if you are totally lost for words, we assure you you cannot go wrong with El Nathan John’s tweet here:
If MMM Nigeria are as smart as I think they are, this is not final. It will come back January, restore confidence, then crash big time.
— Elnathan John (@elnathan_john) December 13, 2016

Fatality

ilelabayor:
you don start again...u people will not allow this matter die down, haters of Mmm. it will be back bigger n better in January just like ultimate cycler and all of you will be put into permanent shame.

As you can see without Mmm, social vices will come up again and on the rise. Mmm has done a lot of good for this country as a nation than damage. Now people have remember there is recession, it has been Mmm that have shifted people's attention all the while. I just hope for a better society and better people.

What's this unnecessary blabbing for ? Are you retardedd?
Someone posted some intriguing facts about your MMM founder and you termed him a hater of MMM.
Since when did posting facts online become a crime?

You peeps just keep acting like zombies on their period. Smh

the whole of ur family is retarded!!!