Please note, this is a STATIC archive of website cointelegraph.com from 17 Oct 2021, cach3.com does not collect or store any user information, there is no "phishing" involved.

MMM News

MMM was a Russian Ponzi scheme company that was founded in 1989 by Sergei Mavrodi. The MMM company is often referred to as one of the largest fraudulent establishments of all time. Triple MMM meaning is an abbreviation taken from the first letters of the surnames of the company founders. For some time, the founders positioned MMM as an investment company, but — as it met little success — turned it to be a Ponzi scheme. The aggressive marketing of the MMM company reached many people and made MMM a very successful enterprise. It’s also famous for the fact that the vast majority of investors knew about fraudulent nature of the company and still hoped to benefit before the collapse of the scheme. MMM was shut down by Russian police in 1994 and it declared bankruptcy in 1997. Sergei Mavrodi was convicted of fraud in 2007 and given a sentence of 4.5 years in prison. In 2011, he reopened MMM as MMM Global and positioned it toward a worldwide stage.
Regulations
Another Russian politician has publicly criticized Bitcoin, comparing to Ponzi scheme MMM.
Bitcoin Price Is ‘Like MMM Ponzi Scheme’: Russian Economic Minister
William Suberg
2017-09-27T11:55:00+01:00
16686
MMM Nigeria - a prominent multi-marketing Ponzi scheme - has recently announced that it is making a comeback enabling Bitcoin as a form of payment.
MMM Nigeria: Notorious “Ponzi Scheme” Enables Bitcoin for Payments
Alicia Naumoff
2017-02-12T16:24:00+00:00
2338
Developing markets turning on to Bitcoin are experiencing huge variations in the price of buying a bitcoin - and rumors of ulterior motives are beginning to sur...
Huge Variations of BTC Price In African Markets Raises Suspicions Of Foul Play
William Suberg
2016-12-01T12:11:00+00:00
1456
MMM Global hurts Bitcoin business in Africa, Bitpesa Bitcoin exchange warns its users on the need to be cautious.
MMM Global, OneCoin, Others Proving a Concern in Africa’s Bitcoin Market
Olusegun Ogundeji
2016-10-27T11:25:00+01:00
1371
MMM rides on the wings of belief, greed and a failing economy to flourish in Nigeria despite its negative history and bad publicity as a Ponzi scheme.
Despite Bad Publicity, MMM Global Flourishes In Nigeria
Iyke Aru
2016-03-30T10:51:00+01:00
1169
Swiftcurrency.com moves to begin awareness campaign on virtual currencies, with the aim to redeem the industry’s already battered image by Ponzi schemes says Ad...
Nigerian BTC Trading Platform Fights Ponzi Schemes That Thrive Over Africa
Iyke Aru
2016-03-16T14:37:00+00:00
561
Yury Chikhanchin, the Director of the Federal Financial Monitoring Service in Russia warned about the future collapse of the MMM Pyramid Scheme of Sergei Mavrod...
Russia Warns About MMM Collapse In China
Nina Lyon
2015-11-12T15:01:00+00:00
1235
Bitcoin price analysts are struggling to identify the rationale behind the sudden price spike in the cryptocurrency’s value as it broke the US$400 mark on Novem...
Is This Man the Reason Behind the Bitcoin Price Surge?
Walid Dib
2015-11-05T20:15:00+00:00
893

Follow us on Facebook