Sergei Mavrodi | |
|---|---|
 Mavrodi in 2012 | |
| Born | 11 August 1955 Moscow, Russian SFSR, Soviet Union |
| Died | 26 March 2018 (aged 62) Moscow, Russia |
| Known for | Russian financial fraudster and previously a deputy of the State Duma |
Sergei Panteleevich Mavrodi (Russian: Серге́й Пантеле́евич Мавро́ди; 11 August 1955 – 26 March 2018) was a Russian financial fraudster, financial criminal and previously a deputy of the State Duma. He was the founder of the МММ, a scheme that defrauded millions of people around the globe.
In 2007 Sergei Mavrodi was convicted in a Russian court of defrauding 10,000 investors out of 110 million rubles ($4.3 million).[1][2][3] Mavrodi claimed he was not the beneficiary of the donations and that he was not used to a flamboyant lifestyle. The charge of which he was later convicted was tax fraud[4] though he claimed that the MMM scheme was not a business, but instead a mutual donation program against which there is no law.[5] There were interviews after his release where he claimed MMM Global was behind the bitcoin price rally.[6]
- ^ "Sergei Mavrodi Convicted of Fraud in MMM Trial", by Kevin O’Flynn, The St. Petersburg Times.
- ^ ""Mavrodi's Internet-Pyramide Commapsed"". Archived from the original on 25 January 2011.
- ^ "ITAR-TASS".
- ^ Higgins, Andrew (28 October 1994). "Out of Russia:Mythical money helps to buy voters".
- ^ "MMM is a Revolution For Each And Everyone Of You.To Fight Against Financial Slavery". Archived from the original on 28 August 2016.
- ^ I’m no crook,’ declares MMM scamster, while claiming credit for the Bitcoin price spike, by Izabella Kaminska 9 November 2015.