MMM Founder, Sergei Mavrodi Dies From Heart Attack

MMM Founder, Sergei Mavrodi Dies From Heart Attack

Russian businessman and founder of MMM pyramid scheme, Sergei Mavrodi has died of a heart attack, according to Russia media.

Reports said the 62-year-old was rushed to the hospital late on March 25 with pain in his chest and died several hours later.

Mavrodi’s MMM financial pyramid was a typical Ponzi scheme in which earlier investors receive their profits from subsequent investors.

Mavrodi promised returns of 20 percent to 75 percent a month, as well as lotteries and bonuses for investors.

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