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Russian suspects in pyramid scheme detained in India released on bail

August 27, 2013, 18:33 UTC+3

Suspects deny their guilt

1 pages in this article
Photo EPA/ITAR-TASS archive

Photo EPA/ITAR-TASS archive

NEW DELHI, August 27 (Itar-Tass) - The Russians detained in India on suspicion of involvement in a pyramid scheme, Denis Rozhkov, and Andrei Kilin, were released on bail on Tuesday, a well-informed source told Itar-Tass.

"The sum of bail is around 250,000 rupees /some 5,000 U.S. dollars/. Earlier, a 100,000-rupee bail was paid for the third detainee, Alexei Muratov. He's s already been released ," the source said. Suspects are now waiting for the trial.

The trio - the founder of the local branch of MMM-India Alexei Muratov, interpreter Denis Rozhkov and producer Andrei Kilin – were detained in the town of Guwahati, Assam state, in northeastern India.

Rozhkov and Kilin were later transferred to Mumbai. No official charges have been brought so far.

According to varying estimates, 500,000 to one million people took part in the MMM-India project. "I invested in the MMM-India system 20,000 rupees /around 400 dollars/ and lost them. Returning the promised interest was out of the question," Kumal Singh, one of the victims, told Itar-Tass.

After they refused the refund request, Singh complained to police and asked to look into the legality of the MMM project.

The MMM founders denied their guilt assuring that they had warned each potential participant about the possibility of losing the investment.

"MMM's operating principle is a loaning society, where every person has the opportunity to help another or receive help," Muratov told Tass. "There is no guarantee that such assistance will be provided in turn to the helper. The assistance is provided for free. We've said it, and this information is on our website."

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