Description :

Sergei Mavrodi

Sergei Mavrodi is a Russian fraudster who defrauded people with the legendary Ponzi scheme. He founded ‘MMM global in the year 1989 with a pyramid scheme’. In 1997, after announcing that MMM was under bankruptcy, he disappeared. He was caught in 2003 and was sentenced to four and half years in 2007. Later he opened multiple MMM in many countries and openly declared them as pyramid scheme. He died in the year 2018 due to heart failure.