Who is history’s greatest fraud?

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Meet Sergei Mavrodi, the enigmatic figure behind the infamous pyramid scheme known as MMM. Back in 1989, he founded MMM and quickly gained notoriety for his audacious financial ventures.

In 1997, amidst a declaration of bankruptcy, Sergei vanished, leaving countless people in financial ruin. It seemed as if he had disappeared without a trace until his arrest in 2003, which brought him back into the spotlight.

 

Undeterred by his past, in 2011, Sergei reappeared with a revamped version of his scheme called MMM Global. This new iteration spread like wildfire across countries, captivating people in places like China, India, South Africa, and Zimbabwe.

However, it was in November 2015 that Nigeria bore the brunt of the MMM “plague.” Promising an enticing 30% return on investments, Sergei lured countless individuals into becoming aspiring entrepreneurs, investing their life savings, and sacrificing their dreams for the sake of the scheme. It became an all-consuming addiction, akin to gambling.

The MMM-Nigeria community thrived, bonding people together under the illusion of prosperity and easy riches.

But as quickly as it rose to prominence, the scheme came crashing down like an apocalypse. In December 2016, just before Christmas, when hope was at its peak, Sergei Mavrodi struck the final blow by freezing all investor accounts. The dreams of a joyous holiday season vanished in an instant, leaving millions devastated.

Tragically, Sergei Mavrodi passed away in 2018, leaving behind a legacy of financial ruin and shattered dreams for millions of people who fell victim to his deceitful pyramid scheme. His impact on the lives of countless individuals will forever be a cautionary tale of the dangers of greed and false promises in the world of finance.

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