Who was the owner of MMM?

Sergei Mavrodi
MMM (Ponzi scheme company)

Native name	Акционерное общество «МММ»
Founder	Sergei Mavrodi
Defunct	2004
Fate	Shut down by Russian police in 1994, declared bankruptcy in 1997, reopened in 2011 as MMM Global
Headquarters	Russia

What is MMM investment?

Mavrodi Mundial Moneybox (MMM), the Russian-founded Ponzi scheme which wrecked the lives of so many Nigerians in 2017 is back in business. The Ponzi scheme has repackaged itself and is now known as MMM Cooperation. This time around, it is assuring people a 50 percent gain on any amount that is “invested”.

Is MMM dead?

Sergei Mavrodi the founder of MMM is dead. According to a report carried by the Russian media, the Russian businessman was rushed to the hospital on the 25th of March after several complaints of chest pain but is said to have died on the same day. He was 62 years. Sergei Mavrodi the founder of MMM is dead.

Why You Should Avoid pyramid schemes?

Pyramid schemes are doomed to fail because their success depends on the ability to recruit more and more investors. Since there are only a limited number of people in a given community, all pyramid schemes will ultimately collapse. The only people who make money are those few who are on the top of the pyramid.

Why does MMM crash?

Mike’s tweet elicited reactions from other Nigerians who had similar experiences. Replying to Mike’s tweet, @OmideyiOlaide, another Twitter user, said the scheme crashed two days after his neighbour’s wife invested the family’s feeding allowance for the month in it.

How long did Mmm last in South Africa?

We have been working in South Africa for almost 2 years and we have millions of members. During all that time, we had no complaints and accusations from participants, everything was paid to everyone in time and in full amount, by 30\% per month. We held charity events and helped children.