Lavrov: China, ASEAN interested in organization of Eurasian partnershipRussian Politics & Diplomacy May 28, 11:45
MC-21 airliner makes first test flight - sourceBusiness & Economy May 28, 11:00
Putin sends greeting to Border Guard on their professional holidayMilitary & Defense May 28, 10:57
Ukrianian court puts on hold lawsuit against ban on Russian social networksWorld May 28, 6:10
Russia’s Lasitskene wins high jump in Diamond League event in Eugene, USSport May 28, 4:59
Havana Airport gets Russian-made air traffic control systemsWorld May 28, 4:16
Guests of FIFA 2018 World Cup sure to get warm welcome in Russia — LavrovSport May 28, 2:25
Kantemir Balagov’s "Closeness" gets Cannes Festival’s International Critics’ PrizeSociety & Culture May 28, 1:03
Anti-church laws in Ukraine may cause religious strife — Ukrainian Orthodox ChurchWorld May 28, 0:22
PRETORIA, August 18. /TASS/. The architect of the biggest in Russia’s history financial pyramid scheme MMM, Sergei Mavrodi, has launched a new project in South Africa, The Citizen local daily reports on Tuesday.
According to the newspaper, the new scheme is called "a social financial network" promising 30%-per-month returns. "This is the first sprout of something new in modern soulless and ruthless world of greed and hard cash," its local website says.
"The goal here is not the money. The goal is to destroy the world’s unjust financial system," the newspaper quotes the company as declaring on the local website.
MMM South Africa’s Facebook page, disseminating weekly news from Mavrodi, has more than 22,000 likes from users, the newspaper says. In YouTube videos, the notorious fraudster discusses the business model in Russia.
MMM company, existing from 1989 to 1994, was recognized as one of the biggest financial pyramid schemes, in which up to 15 million investors took part, according to experts.
Mavrodi, who had been fleeing from prosecution, was arrested in Moscow with a forged passport in January 2003. In April 2007, the court found him guilty of cheating millions of Russians of their savings, and he was sentenced him to 4.5 years in jail for fraud. He was set free in May 2007.