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Nigerians React To MMM Founder’s Death

Sergei Mavrodi the founder of MMM is dead.

According to a report carried by the Russian media, the Russian businessman was rushed to the hospital on the 25th of March after several complaints of chest pain but is said to have died on the same day. He was 62 years.


Nigerians have taken to their social platforms to express their feelings:

Mavrodi was born with a heart problem and was good at Mathematics and Physics. Since his first arrest in 1984 over economic illegal activities, he has been in and out of court cases.

MMM became fully operational in Nigeria in 2016. It was embraced by Nigerians and seen as a quick money-making venture. Nigerians ignored warnings by the Central Bank of Nigeria (CBN), investors, previous records and religious bodies to Nigerians to desist from investing in the Ponzi scheme.

When the system crashed for unknown reasons in 2016, a total of N18billion was thrown into the sea resulting in the death of many. Despite plans to revive the business in 2017, it yielded little success.

Guardian contacted the MMM office in Nigeria and a “Danny- Consultant” described the news as false. “That is a false statement…Please stop the panic attack. It doesn’t help. All mavros are safe and ok”, he said

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