Skip to main content

Sergey Mavrodi MMM founder reportedly dies of heart attack at 62

Sergey Mavrodi

MMM founder reportedly dies of heart attack at 62


He was rushed to a city hospital in the early hours of Monday before he died in the morning.

The founder of the infamous MMM series of financial pyramid schemes, Sergey Mavrodi, has died of a heart attack on Monday, March 26, 2018, at the age of 62.

According to a report by  Moscow-based daily newspaper Moskovskij Komsomolets, the former deputy of the State Duma died in the Russian capital, Moscow, after he felt weakness and pain in the chest area.
He was reportedly rushed to a city hospital in the early hours of Monday before he died in the morning.
The report read, "The emergency team has failed to save his life. He died this morning."

Mavrodi's MMM

In 2007, a Moscow court found Mavrodi guilty of defrauding 10,000 investors out of $4.3 million, and sentenced him to four and a half years in a penal colony and also fined him $390.
Starting from 2011, Mavrodi launched a series of MMM schemes which he described as a pyramid where people interact with each other and give each other money. According to him, his aim was to destroy the current financial system, which he considers unfair.
While the scheme promised participants astronomical returns on their 'investments' MMM is known for always crashing and leaving its participants high and dry.
After first freezing the operation and denying payouts in 2012, Mavrodi launched the scheme in several countries including India, China, South Africa, Zimbabwe and Nigeria

Comments

Popular posts from this blog

Jungle Justice Young lady stripped naked for stealing phone in Warri (Graphic Photo

Jungle Justice Young lady stripped naked for stealing phone in Warri (Graphic Photo) A young lady who allegedly stole a phone was stripped naked and beaten to a pulp in Warri.         The female phone thief  (Futa Extra) A young lady ho allegedly stole a phone in a shopping mall in Warri, Delta State, was given a strange form of jungle justice after she was  stripped naked , beaten silly and molested sexually by an elated mob comprising mostly of young men, reports Futa Xtra. Also Read :  "Reward Of Crime: Suspected female kidnapper arrested, stripped naked in Lagos" According to the report, the lady had stolen the phone, a Tecno Boom J8 said to be worth N48,000, at the Robbinson Plaza in the town but was unlucky as she was caught and given the disgrace of her life as the mob, apart from stripping her and beating her to a pulp, molested her by forcing sticks, bottles and iron rods into her  private pa...

' AY Live To Refund Our MonTelley' - Lagos Man Blasts

' AY Live To Refund Our MonTelley' - Lagos Man Blasts ay makun. Lagos-based man narrates how he lost the sum of 60,000 naira to what looks like a ticketing racket at the AY Live comedy show on Easter Sunday. The usually well publicized AY Live comedy show for Easter 2018 has come and gone but it has not gone without some touch of negativity. While many would still be talking about the fulfilling experience they had, a Facebook user has called out the star comedian for allegedly scamming his fans with the show. He posted on Facebook how he lost the sum of 60,000 naira to what looks like a ticketing racket and if these words are true, it would make many of us worry. But should the star comedian and filmmaker be blamed for this? Here is Seyi’s post while we wait for the organisers of the show to react: So after years of procrastination, myself and Mrs decided to attend one of the Lagos comedy shows. This time, it was the AyLive event on Easter Sunday at E...

Woman strips naked after being ridiculed at the market

Woman strips naked after being ridiculed at the market  Category: Gist A  woman stripped herself naked after she was harassed by vendors and passersby who thought she was scantily clad.   Woman strips naked after harassment from street vendors[/caption] A naked woman was the centre of attention in a market in Zimbabwe recently, after she tried to prove a point to some street vendors who harassed her. The unidentified woman, had reportedly gone to the market at the Bulawayo’s Lobengula Street area in Zimbabwe, dressed in a very short dress. Someone who didn't like her appearance then poured water on her, while the others jeered at her for her appearance. The woman became very angry and proceeded to take off her clothes (underwears inclusive), all the while shouting back at her oppressors. PAY ATTENTION: Get all the latest gossips on NAIJ Gossip App In typical fashion when things like this happen, onlookers brought out their phones to capture the moment...