MMM Announces Final Shutdown After Mavrodi’s Death

The management of Mavrodi Mundial Moneybox (MMM), has announced a final shut down of operations.

In a statement on its official website, the ponzi scheme said it was shutting down due to the death of the founder, Sergey Mavrodi.

Mavrodi, a Russian citizen, died on March 26 after suffering a heart attack.

The controversial ponzi scheme, which was launched in 2011, crashed in Nigeria in December 2016.

Despite repeated warnings by the Central Bank of Nigeria, CBN, many Nigerians, especially the youth, participated in the controversial scheme.

Many Nigerians, who participated in the scheme, lost millions of naira following the crash.

“Dear participants, after much deliberation, we have made the conclusion that continuing the System operation, without our leader and ideological inspire, is impossible and makes no sense,” the statement read in part.

“We all carried out the tasks he assigned to us, since we had no doubt in his genius and rightness of the path he had chosen. We are firmly aware of the fact that none of us has a full view of his conception’s profoundness and sequence of all the actions to achieve a final goal, declared in the “MMM’s Ideology”.

“Sergey Mavrodi’s broadmindedness scale is unprecedented. Therefore any attempts to continue the System operation without him are bound to fail. We respect him immeasurably and cannot afford to allow that our unskilled actions may cause profanation of his concepts.

“In view of the above, with deep sadness, we have to announce the ultimate and irreversible MMM closure.

“We also remind (as a matter of form) that all initially were fully aware of the risks and read the WARNING and confirmed that by checking the relevant box when registering.

“Hoping for your understanding, Administration.”