3 ms·
Never heard of MMM before, Looks like Sergei is persistant with these pyramid schemes; In January 2011, Mavrodi launched another pyramid scheme called MM
by nosuchthing 11y ago
Never heard of MMM before,
Looks like Sergei is persistant with these pyramid schemes;
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 and warnings from both the South African and
Russian Communist Parties for people not to participate
in it.[18]
https://en.wikipedia.org/wiki/MMM-2011 https://en.wikipedia.org/wiki/MMM-2011
Active thread talking about Sergei's current scheme:
https://www.reddit.com/r/Bitcoin/comments/3p4kuf/mmm_global_republic_of_bitcoin/ https://www.reddit.com/r/Bitcoin/comments/3p4kuf/mmm_global_...