Russian businessman and organizer of the MMM Pyramid scheme, Sergey Mavrodi has passed on from a heart assault.
As per Premium Times, the 62-year-old was hurried to the doctor’s facility late on March 25 with torment in his chest and passed on a few hours after the fact.
Mavrodi’s MMM money related pyramid was an average Ponzi scheme in which prior speculators get their benefits from ensuing financial investors. It likewise guaranteed returns of 20 percent to 75 percent for each deposit a month, and in addition lotteries and rewards for Investors.
When the quantity of new customers quit developing, the pyramid fallen, causing gigantic money related misfortunes for no less than 10 million individuals.
In the vicinity of 2011 and 2016, Mavrodi propelled Ponzi scheme under the MMM mark in India, China, South Africa, Zimbabwe, and Nigeria. The activities were later closed down in Nigeria.