Who is history’s greatest fraud? MMM’s Sergei Mavrodi or Grand Duchess Anastasia
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- Who is history’s greatest fraud? MMM’s Sergei Mavrodi or Grand Duchess Anastasia
Who is history’s greatest fraud?
Sergei Mavrodi of Russia
Sergei Panteleevich Mavrodi is A former State Duma representative from Russia who committed financial fraud and other crimes. He was the creator of the M, a global fraud operation that deceived millions of individuals.
Sergei Mavrodi of Russia was the man behind the popular pyramid scheme called MMM. He founded MMM in 1989.
- In 1997 he declared bankruptcy and fled with people’s money. There was no trace of him until his arrest in 2003.
- In 2011 he resurfaced with another version of the scheme he had called MMM Global
The plan expanded to various nations. It was introduced in Zimbabwe, South Africa, China, and India.
Nigeria was struck by the “plague” in November 2015.
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Everyone started their own business because it guaranteed a 30% return on investment. Investments were made using life savings.
Marriages were postponed since the funds set aside for building homes had to be invested in MMM. Students invested their tuition money. People sold their land and obtained bank loans only for investment purposes. It was a habit, similar to gambling.
Suddenly, MMM Nigeria Became a Strong Community Then came the apocalypse
After operating in Nigeria for a year with more than three million active investors, all investor accounts were frozen in December 2016.
People had made significant investments with the expectation of using the profit to enjoy their Christmas because it was so close to the holiday. He chose this time period wisely. All the accounts were frozen by Sergei Mavrodi.
According to one analysis, 5 to 40 million consumers lost roughly $10 billion due to MMM.
In 2018, he passed away.
Grand Duchess Anastasia Nikolaevna of Russia
Duchess Anastasia Nikolaevna of Russia was the youngest child of Tsar Nicholas II, the final ruler of Imperial Russia, and his wife, Tsarina Alexandra Feodorovna.