The notorious creator of MMM in the 90s, Sergei Mavrodi, having served a sentence for fraud, did not leave his activity in the new century. In 2011, he launched a new, similar financial project. This time, Mavrodi immediately warned potential participants that this was a pyramid scheme that could collapse at any moment, leaving depositors without money. Obviously, in June 2012, this unpleasant moment came.
On June 16, 2012, in his address, Sergei Mavrodi said that payments under the MMM-2011 project had been suspended. Indirectly, the reasons for this unpopular decision were the panic among depositors in May 2012, as well as the closure of the Ukrainian offices of MMM. In addition, in Russia and Belarus, criminal cases have been initiated against the organizers of the financial pyramid.
Mavrodi has repeatedly warned about the suspension of payments and the possible termination of the project. He also made a statement that depositors should be prepared for the fact that there will not be enough money for everyone. As an excuse, the notorious financier pointed out that even banks are collapsing with massive customer requests for their money back.
Mavrodi urged the participants in the financial pyramid not to despair and announced the start of another project called MMM-2012. The details of the operation of this project have not yet been disclosed, but it is obvious that part of the funds that will go to the new structure will be partially used to pay off the obligations of MMM-2011. It is expected that in the old system, which ends its existence, the interest on cash deposits will be increased. This is necessary to prevent the outflow of funds from the old financial structure to the new one.
Experts are in no hurry to make predictions about the newest MMM. In many respects, the order of its functioning and the life span will be determined by the prospects of criminal cases initiated against Mavrodi himself and the heads of the structural divisions of the pyramid of 2011, according to Rossiyskaya Gazeta. Mavrodi's lawyer believes that criminal prosecution does not threaten his client with anything serious, since he was not directly involved in organizing the pyramid, did not distribute funds, but only provided advice to depositors. Time will tell whether the investigating authorities consider such arguments convincing.
