MMM Global has collapsed and the founder Sergey Mavrodi has made his exit, he is nowhere to be seen. It is a ponzi and pyramid scheme, the brain child of the Russian convict Sergey Mavrodi.
He claimed that MMM Global could no longer sustain 100% per month returns on it’s “Bitcoin based”, The Republic Of Bitcoin Global Pyramid scheme and HYIP. This was presented as a notice on the platform to its users. Users have been transferred to the lower local schemes which provide a 30% monthly return to investors.
Even though MMM South Africa claim that it was not affected by the Global counterparts collapse. We have an anonymous source who is yet to receive a withdrawal from the scheme.
It is already known that MMM China and now MMM Global have collapsed and are unable to pay investors. The last post on the MMM global website was on the 20tg of March and no one has heard of Sergey since. Clearly he has already abandoned ship and gone into hiding. The Russian authorities have been searching for him to no avail, he was already convicted for fraud and tax evasion crimes related to the collapse of MMM in Russia in the early 90’s.
“On behalf of the local South African bitcoin community, We would like to warn any potential investors into Bitcoin related related ventures that sound too good to be true. I believe any financial pyramid which promises investors returns anything over 20% return per annum should be closely examined by the investor to determine the validity of your investment.”