Sergey Mavrodi, the founder of MMM, a Russian company which ran one of the world’s largest Ponzi scheme, has been reported dead.
News broke before noon on Monday that the MMM founder died of heart attack after he was admitted to a Russian hospital.
Mavrodi inaugurated his pyramid scheme in 2011 and crashed in Nigeria in December 2016.
According to a report by Moskovsky Komsomolets, the founder of the MMM series of Financial Pyramid Schemes, Mavrodi, died in Moscow at the age of 62.
Following a brief illness, Mavrodi was taken to a city hospital from a bus stop overnight Monday, March 26, after he felt weakness and pain in the chest area.
The reported concluded: “The emergency team has failed to save his life. He died this morning,”
World’s Largest Ponzi Scheme
Sergei Mavrodi created the world’s largest ponzi scheme which he christened as “MMM” in 1992. The ponzi scheme quickly gained popularity locally and became the largest financial pyramid in the history of Russia.
Here is how the ponzi scheme worked:
The income of the members who joined it was paid out of the contributions of new arrivals, and when the flow of customers ceased to grow, non-payments began.
According to various estimates, the number of victims of MMM has reached 10-15 million people.
Twitter users have taken to the social media platform to air their views on the death of the founder of MMM pyramid scheme, Sergei Mavrodi.
The comment came mostly from Nigerians and people from other parts of the world whose encounter with the Ponzi scheme had been mostly unpalatable.
Some of the comments raised questions about the circumstances that surrounded his death, while the majority of the people believed that it was just a clear case of Karma.
See some of the tweets below:
MMM founer Sergey Mavrodi is dead. Died of heart attack. U cant eat Nigerians money just like that, ask Abacha — D U B E M (@no_rookie) March 26, 2018
Osas Cruz @OsasCruz
Founder Of MMM Sergey Mavrodi Is Dead…. Prayers of Nigerians. — Osas Cruz (@OsasCruz) March 26, 2018
Black Jesus @Jorndoe
Sergey Mavrodi is dead, who will refund my money? Who knows any of his relatives? — Black Jesus (@Jorndoe) March 26, 2018
Sergey Mavrodi don kick bucket!!
When Baba Durojegbe’s money got hung on that MMM i knew he wasnt going to allow the thing pass like that.
If u know, you know!! — Dede Nsogbu (@dat_ph_boi) March 26, 2018
Buhari’s sister @DaminaboEric
MMM, Sergey Mavrodi founder dies of attack in Moscow… So Amadioha Can Kill Someone In Moscow? — Buhari’s sister?? (@DaminaboEric) March 26, 2018
Kevin Rothrock @KevinRothrock
RIP, Sergey Mavrodi, Russian pioneer of the post-Soviet pyramid scheme. You won’t be missed (except by the millions of people still expecting their payouts). — Kevin Rothrock (@KevinRothrock) March 26, 2018
Mack Daddy @Temisque
“MMM founder, Sergey Mavrodi is dead.”
The collective prayers of Nigerians might not work because it lacks sufficient faith but their curses are well intended, spiced with enough anguish and vitriol that usually can’t miss.
— Mack Daddy (@Temisque) March 26, 2018
Read it somewhere Sergey Mavrodi, MMM founder died of heart attack in Moscow, Russia..
Fear Nigerians… Our curse(s) don’t miss.. we will back it up with Ogun, sango and Oya..
To those involved, Hopes are dashed… Smh!
— ?FOLLOW BACK YOU WILL NOT DIE ? (@SheunDam) March 26, 2018
So Sergey Mavrodi is dead?
Azzin MMM founder is dead?
African Juju no dey get border, e no dey use Visa.
Man thought he could scam the scammers themselves. pic.twitter.com/UnRm3V8hT2
— Ukpai Ifeanyichukwu (@Myka_veli) March 26, 2018
“MMM founder, Sergey Mavrodi died of heart attack.”
Nigerians and witchcraft ????
Ogun has finally gotten a visa to work overseas. ???
— DREY-PR || DR.DREY #BBNaija (@DreyPR) March 26, 2018
Sergey Mavrodi don kpafuka after heart attack hit am,our money sef follow am waka ???…
— L.Vein??&? (@Duks_OG) March 26, 2018
Sergey mavrodi carried by 800k to his grave ni sha #MMM
— N.Bamo (@Niyibamo) March 26, 2018
Someone said Sergey Mavrodi died because he was afraid of Nigerians coming to Russia for world cup in June. Man just had to die of heart attack.?
He wasn’t a great man but he allowed us know which Nigerian bank is fast and reliable.
I can’t forget the MMM drama. ??
— Iyá Lájè Of Lagos (@newscantell) March 26, 2018
Sergey Mavrodi is dead ,what a great lose for Russians and huge victory to Scammed Nigerians. pic.twitter.com/heC9ZwLlPz
— Alagba Gaaabu (@Angelgabbyshara) March 26, 2018
Just tell me y “Sergey Mavrodi” won’t die of heart attack??
?????#MMM #MMM2018 #BBNaija pic.twitter.com/SclRV7LNJg
— CENT OKOH (@Centokoh) March 26, 2018
So Nigerians can rant over the death of Sergey Mavrodi founded MMM… May he rest in peace 1955 – 2018 pic.twitter.com/pJgzjHoI8m
— A K I N K U N M I (@MrKunmee) March 26, 2018
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