The hidden truth behind MMM.

Many Nigerians don't know the demerits of this so called MMM they are just concirned about the fast income the get.

In this blog we will expose the hidden truth about this so called MMM. Before we go further if You are an MMM investor, ask your self these questions.
1. Where did MMM come from.
2. In what advanced country has it been practised or still in practise.
3. Is it legalized in any advanced country.
4. The home country of MMM is it being practised there if no why?
5.How long has it existed.
6. What if the website crashes surdenly.

HISTORY: MMM was established in 1989 by Sergi Mevrodi, his brother Vyacheslav Mavrodi and Olga Melninova.The name of the company was taken from the first latter of the three founders surnames.

MMM was a Russian company that was one of the world's largest ponzi schemes of all time in the 1990s. By various estimate from 5 to 40 million people lost up to $10billion the founders don't even know the exact figure.

The company tried other business but was no successful.

MMM created its successful ponzi scheme in 1994.It started collecting money from private investors promising an annual returns of over one thousand percent. No body can tell if ponzi scheme was Mavrodi's initial intention. inasmuch as such extravagant return might have been possible during the Russian hyper inflation in such commerce as import and export.

The company grew up to an extent that it was geting over 100 billion rubbes ($50 million) daily from sale of share to the public. The profit was so much that they were finding it difficult to count their money.

On july 22 1994 the police closed their offices for tax avession for few days.
They promised to continue but that was not possible because they were in dept of over 100rubbles and 3trillion runles to investors.

Investors made efforts to recover their money but to no avail. That was the end of MMM in Russia. Over 50 thousand investors commited suicide.

Mavrodi blamed the  government for  every thing but was living like a king. It was believed that he ran to the US

Letter in 2003 he was arrested and detained. At the end of 2007 he was convicted of fraud. and was sentenced to four and half years, since he had already spent over four years in custody he was released less than a month letter on may 22 2007.

So Nigerians after reading this blog post send to all your friend. Let them know the hidden truth behind this MMM.

And finally on MMM, after the Russian scandal it is totally illegal in all of Europe.