МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s.[1][2] By different estimates from 5 to 10 million people lost their savings.[3] According to contemporary Western press reports, most investors were aware of the fraudulent nature of the scheme, but still hoped to profit from it by withdrawing money before it collapsed.

MMM was established in 1989 by Sergei Mavrodi,[2] his brother Vyacheslav Mavrodi, and one Olga Melnikova. The name of the company was taken from the first letters of the three founders' surnames.

Initially, Mavrodi operated a network of computer-importing cooperatives.[6] In January 1992, tax police accused MMM of tax evasion, leading to the collapse of MMM-bank, and causing the company to have difficulty obtaining financing to support its operations.[7] Faced with difficulties in funding its foreign trade, the company switched to the financial sector. It offered American stocks to Russian investors, but met with little success. In December 1992, MMM-Invest was created as a voucher investment fund, a type of entity created to collect privatization vouchers.[8] It was renamed Russ-Invest in May 1995, to distance it from the MMM scheme.[8]

The MMM Ponzi scheme was launched in February 1994,[9] promising annual returns of up to 3,000%.[10] The company started an aggressive TV ad campaign, spending 330 million rubles in March 1994.[9] The ad campaign appealed to the general public by using "ordinary" characters that viewers could identify with. The most famous of them, a "folk hero" of early 1994, was Lyonya Golubkov.[4] Another notable marketing effort was a giveaway of free Metro trips to all Moscow citizens on a particular day.[11]

Source:Business Insights

Cc : Dominique

MMM is back again!

They are promsing a promotion this time, wonders !!!

you mean MMM the killer?
run for your dear life!!!

Give it to Mavrodi, when you finally commit suicide

Did You say MMM is back..?

Na never get sense still?