Bitcoin pyramide ponzi
Posted On 25.05.2015
Russian financial fraudster and previously a deputy of the State Duma. He was the bitcoin pyramide ponzi of the МММ.
During his childhood he was diagnosed with a bilateral heart defect. He was then imprisoned on charges of financial fraud involving MMM. In 1994 Mavrodi was elected deputy of State Duma obtaining parliamentary immunity, just three weeks after he was released from prison. Mavrodi declared MMM bankrupt on 22 December 1997, then disappeared, and was on the run until his arrest in 2003. On 28 April 2007, a Moscow court sentenced him to four and a half years in a penal colony.
In January 2011, Mavrodi launched another pyramid scheme called MMM-2011, asking investors to buy so-called Mavro currency units. In 2011 he launched a similar scheme in India, called MMM India, again stating clearly that the vehicle was a pyramid. He has also launched MMM in China. He was reported to be trying to expand his operations into Western Europe, Canada, and Latin America. In 1998 Mavrodi created Stock Generation, allegedly a classic pyramid scheme presented as a “virtual stock market game”. Mavrodi died of heart problems at the age of 62 at a hospital in Moscow.
In 2008 Mavrodi published the book Temptation. In May 2008, bailiffs arrested Mavrodi’s rights to this book. Seven thousand copies of the book were published. A feature film The PyraMMMid, based on the story of the same name by Mavrodi was released in Russia on 7 April 2011. Sergei Mavrodi Convicted of Fraud in MMM Trial”, by Kevin O’Flynn, The St. Mavrodi’s Internet-Pyramide Commapsed” Archived 25 January 2011 at the Wayback Machine.
Russia:Mythical money helps to buy voters, by ANDREW HIGGINS Friday 28 October 1994. Revolution For Each And Everyone Of You. I’m no crook,’ declares MMM scamster, while claiming credit for the Bitcoin price spike, by Izabella Kaminska 9 November 2015. Moscow court sentences pyramid scheme head Mavrodi to 4. Why is Russia’s Bernie Madoff Back in Business?