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MMM Founder Sergey Mavrodi dead from a Heart Attack

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Russian businessman and founder of the MMM Pyramid scheme, Sergey Mavrodi has died from a heart attack.

According to Premium Times, 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. It also promised returns of 20 per cent to 75 per cent 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.

Between 2011 and 2016, Mavrodi launched Ponzi schemes under the MMM brand in India, China, South Africa, Zimbabwe, and Nigeria. The operations were later shut down in Nigeria.

Photo Credit: Premium Times

13 Comments

  1. Me

    March 26, 2018 at 3:46 pm

    Some people will say it’s karma.

    • SHE

      March 26, 2018 at 7:36 pm

      How can it be karma? He had to die at some point, like all of us will. Why not now?

    • Fleur

      March 27, 2018 at 8:06 pm

      His name entered mountain of fire prayer?

  2. Deleke

    March 26, 2018 at 4:36 pm

    Karma ke? This is one na arrow

    • Provi

      March 26, 2018 at 4:59 pm

      True

  3. Elle

    March 26, 2018 at 5:44 pm

    The curse many Nigerians have fired on his head would not have let him survive. Meanwhile, and to what end? Can he carry a penny with him, no.

    • Ceetoo

      March 26, 2018 at 8:50 pm

      Clearly the curse is not working on our politicians who are doing the real damage ?

  4. Tutu

    March 26, 2018 at 5:53 pm

    He messed with Nigerians; black magic at its finest. Too bad!

  5. Bil

    March 26, 2018 at 8:46 pm

    How are you sure he is the one that actually launched MMM? Maybe he has a namesake

  6. Anon

    March 26, 2018 at 9:41 pm

    “In his childhood he was diagnosed with bilateral heart defect.” Maybe that caught up with him.

    @Bil, “In 1989 Mavrodi founded MMM.” “He was the founder of the МММ series of pyramid schemes.”

    The Russian Bernard Madoff!

  7. jah bless

    March 26, 2018 at 9:42 pm

    these Russians?? he may have feigned his death to disappear forever from his accusers

  8. k

    March 26, 2018 at 11:03 pm

    @jahbless your comment made me LOL; so hillarious.

  9. CrazyWorld

    March 27, 2018 at 12:50 pm

    Won pada get e last last.

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