MMM announces ultimate, irreversible closure of operations

The platform says participants are fully aware of risks behind MMM operations

Late Sergey Mavrodi, MMM Founder  (KOKO TV)

The popular Ponzi scheme, Mavrodi Mundial Moneybox (MMM), has shut down it System and operations globally after the death of its founder,  Sergey Mavrodi.

Mavrodi died on March 26, 2018, and his death put uncertainty in the face of MMM global participants when the System was put on pause mode to honour his exit.

In a statement posted on its global website on Friday, April 6, 2018, the Ponzi scheme platform said the continuation of the System operation without Sergey Mavrodi, the ideological inspirer is “impossible and makes no sense.”

The statement pointed the attention of participants to the pre-registration warning which clearly states the risks attached to every participant on its system.

The statement reads further: “After much deliberation, we have made the conclusion that continuing the System operation, without our leader and ideological inspirer, is impossible and makes no sense.

"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 broad-mindedness 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."

MMM gained ground across major African nations in 2016 largely due to economic meltdown witnessed by the two largest economies – Nigeria and South Africa.

Recall that Nigeria government and other relevant agencies have warned Nigerian participants to stay away from any Ponzi scheme that is not duly registered or within the regulation of the government.