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Sergei Mavrodi, MMM Founder Dies At 62 - Investment - Nairaland

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Sergei Mavrodi, MMM Founder Dies At 62 by irenmwinfo(m): 12:27pm On Mar 26, 2018
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.

In 1994, Mavrodi was elected as a lawmaker, a decision he later said was to ensure he received immunity from prosecution. In 1996, he lost his parliamentary mandate.

In 2007, a Moscow court found him guilty of financial fraud and sentenced him to 4 1/2 years in a penal colony.

In 2011, Mavrodi launched another pyramid scheme called MMM-2011, calling on investors to purchase so-called Mavro currency units in a bid to get rid of the "unfair" financial system. Some 15 months later, Mavrodi halted the project.

From 2011-16, Mavrodi launched Ponzi schemes under the MMM brand in India, China, South Africa, Zimbabwe, and Nigeria.

In many of those countries, Mavrodi's operations were subsequently shut down or suspended.

source : https://www.rferl.org/a/russia-mmm-pyramid-scheme-founder-dead-mavrodi/29124267.html

6 Likes 5 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by sinaj(f): 12:31pm On Mar 26, 2018
Nigerians that lost their money to this scheme will jubilate grin

265 Likes 7 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by Jaguntemmy(m): 12:32pm On Mar 26, 2018
NA CURSE KILL AM?
HE IS AFRAID OF NIGERIA COMMING TO RUSSIA FOR WORLD CUP THIS JUNE.
HE WILL RESURRECT IN AUGUST

502 Likes 31 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by Millz404(m): 12:49pm On Mar 26, 2018
grin finally village people tracker has located him

215 Likes 9 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by SmartMugu: 12:50pm On Mar 26, 2018
Die bawo? Why would he die without first asking everyone if its ok to die now? Which kain yeye death be this one na? Why this man choose wrong time to die? Where people money na?

92 Likes 4 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by Nobody: 12:50pm On Mar 26, 2018
shocked shocked shocked shocked sad sad sad sad sad cry cry cry


Such a nice man, He ensured he kept Most Nigerians Bank Account ACTIVE

With the Advent of MMM, most people got to know which banks had the fastest Transfer and which bank was more reliable.

I can never forget my experience with GTB to ACCESS bank Transfer----- Took almost two days for it to get to the Receiver,(GH) By then he had reported my upload as Fake, i cried that day like a baby who they took the moma's breasts away from grin

235 Likes 17 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by mhisbliss(f): 12:50pm On Mar 26, 2018
grinSome would attribute this to the potency of black juju and curses from those he defrauded, while some would say its just a plot to fake his death and others would believe he really died of heart attack, lol i still think he's alive, His dead body or ADONBILIVIT

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Re: Sergei Mavrodi, MMM Founder Dies At 62 by XXLDICK(m): 12:50pm On Mar 26, 2018
chai!!! the curses finally caught up with him.



I'm sure those that committed suicide tormented him to death

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Re: Sergei Mavrodi, MMM Founder Dies At 62 by nnadychuks(m): 12:50pm On Mar 26, 2018
The Modification of NnadyChuks' law of space Booking states that: the owner or Moderators of NL cannot unbook your space after it has been booked. Mathematically, S=KNU where K is a Constant of certainty

9 Likes 1 Share

Re: Sergei Mavrodi, MMM Founder Dies At 62 by nairavsdollars(f): 12:50pm On Mar 26, 2018
MMM - Mogbe Moku Modaran!

Mavrodi, wey my money oooo

154 Likes 10 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by sotall(m): 12:50pm On Mar 26, 2018
grin grin grin

Let them not waste time on conducting autopsy...

His death is traceable to one shrine in Nigeria where his name and photos are suffocating inside a bottle

53 Likes 6 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by MANNABBQGRILLS: 12:50pm On Mar 26, 2018
I pray and hope many Nigerians won't die.........
just to keep tracking him for their money!!



For those ones saying curses of Nigerians killed him, na so una sabi curse wey all the thieves, corrupt politicians Still dey play cards with y'all future.
Na coincidence abegii........

64 Likes 6 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by deebrain(m): 12:50pm On Mar 26, 2018
Rip sir.

He came- He saw- He conquered many Nigerians upon all our so called "sense" online.


It is not your money.

15 Likes 3 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by BrutalJab: 12:50pm On Mar 26, 2018
Na Naija people kill am grin

3 Likes

Re: Sergei Mavrodi, MMM Founder Dies At 62 by abokibuhari: 12:51pm On Mar 26, 2018
Wish I be him next of kin grin

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Re: Sergei Mavrodi, MMM Founder Dies At 62 by Nobody: 12:51pm On Mar 26, 2018
finally my mavro has gone!

18 Likes 3 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by penzino(m): 12:51pm On Mar 26, 2018
Jaguntemmy:
NA CURSE KILL AM?
HE IS AFRAID OF NIGERIA COMMING TO RUSSIA FOR WORLD CUP THIS JUNE.
HE WILL RESURRECT IN AUGUST
Funny...

4 Likes

Re: Sergei Mavrodi, MMM Founder Dies At 62 by Iaz93: 12:51pm On Mar 26, 2018
I can imagine the number of people wey enter heavy debt because of this man.

Rest in Ponzi, Mavrodi.

12 Likes 3 Shares

Re: Sergei Mavrodi, MMM Founder Dies At 62 by Dcholeric: 12:51pm On Mar 26, 2018
angry

Although I lost my money to his antics it doesn't make sense for me to jubilate .
the guy is dead , no more pains and worries of this world..
he doesn't give a Bleep about my jubilation...

I would have preferred a life jail sentence or an everlasting ailment that would've made him completely handicapped until is dying day.

10 Likes

Re: Sergei Mavrodi, MMM Founder Dies At 62 by xreal: 12:51pm On Mar 26, 2018
His Ponzi died before he died.

3 Likes 1 Share

Re: Sergei Mavrodi, MMM Founder Dies At 62 by Anuoluwapo3054(m): 12:51pm On Mar 26, 2018
NIGERIANS!!! I HAIL THEE...WON TI PE PA grin grin grin grin

5 Likes

Re: Sergei Mavrodi, MMM Founder Dies At 62 by alsudaes1(m): 12:51pm On Mar 26, 2018
Jaguntemmy:
NA CURSE KILL AM?


That curse go good for some of our leaders. . .

2 Likes

Re: Sergei Mavrodi, MMM Founder Dies At 62 by Blackfire(m): 12:51pm On Mar 26, 2018
I got milli trapped in that org.
Re: Sergei Mavrodi, MMM Founder Dies At 62 by 4kDdullard: 12:51pm On Mar 26, 2018
Don't mess up with prayer warriors in Nigeria
Re: Sergei Mavrodi, MMM Founder Dies At 62 by IamPatriotic(m): 12:51pm On Mar 26, 2018
At last, curses of swindled Nigerians killed this man, Chuks may be the next on the line.

1 Like 1 Share

Re: Sergei Mavrodi, MMM Founder Dies At 62 by CastedAyo: 12:52pm On Mar 26, 2018
Jaguntemmy:
NA CURSE KILL AM?
HE IS AFRAID OF NIGERIA COMMING TO RUSSIA FOR WORLD CUP THIS JUNE.
HE WILL RESURRECT IN AUGUST
www.nairaland.com/attachments/6878250_img20180324192213_jpegdf9f3ef3944d239130a8d35123b57c4d

6 Likes

Re: Sergei Mavrodi, MMM Founder Dies At 62 by DoyenExchange: 12:52pm On Mar 26, 2018
If it is true, then Naija people's juju has gotten him! lipsrsealed
Re: Sergei Mavrodi, MMM Founder Dies At 62 by marttol: 12:52pm On Mar 26, 2018
Go spend the money for hell

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Re: Sergei Mavrodi, MMM Founder Dies At 62 by lexy070(m): 12:52pm On Mar 26, 2018
Just send his remains here we are ready to give him a befitting burial

4 Likes

Re: Sergei Mavrodi, MMM Founder Dies At 62 by Lekcy001(m): 12:52pm On Mar 26, 2018
ewoooo, this man finally go shaa..#scammeraye.mogbemokumidaran#$#

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