You can't eat Nigerians money like that, ask Abacha: Nigerians react to death of MMM founder, Sergey Mavrodi - Oasis Connect || No 1 Entertainment Blog

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Monday, 26 March 2018

You can't eat Nigerians money like that, ask Abacha: Nigerians react to death of MMM founder, Sergey Mavrodi

- Nigerians have reacted to the death of MMM founder, Sergey Mavrodi's death
- He was reported to have died of attackattack on Monday, March 26 in Russian hospital
- MMM was introduced into Nigeria in 2016 but it crashed in December of the same year with many Nigerians losing their savings

Following reports of the death of Sergey Mavrodi on Monday, March 26, Nigerians have gone on Twitter to mock his passing, saying he cannot just scam Nigerians and live.The Punch reports that MMM founder reportedly died of heart attack after he was admitted to a Russian hospital.

It was gathered that the scheme founded by the 62-year-old was introduced into Nigeria in 2016. It crashed in December of the same year with many Nigerians losing their savings in the process.People had also lost money to the scheme in Russia – where it started, Ghana and Egypt.

Majority of the people who reacted to the announcement of his death are Nigerians as well as people from other parts of the world whose encounter with the Ponzi scheme had been mostly unpalatable.Most suggested that it was Karma that caught up with Mavrodi.

Meanwhile, it had previously been reported that Sergey Mavrodi, the founder of MMM, a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, is dead. According to a report by Moskovsky Komsomolets, the founder of the MMM series of financial pyramid schemes, Mavrodi, died in Moscow at the age of 62.

It was gathered that Mavrodi was taken to a city hospital from a bus stop overnight Monday, March 26, after he felt weakness and pain in the chest area."The emergency team has failed to save his life. He died this morning,"the report said. The preliminary cause of death is a heart attack.Sergei Mavrodi created the company MMM in 1992. It quickly gained popularity and became the largest financial pyramid in the history of Russia.The income of the members who joined it was paid out of the contributions of new arrivals, and when the flow of customers ceased to grow, non-payments began.

According to various estimates, the number of victims of the MMM has reached 10-15 million people. In 1994, Mavrodi became a member of the Russian parliament.

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