Alleged SA Ponzi ‘Bitcoin-based MMM Global’ goes bust – Russian owner hiding

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The essay was on a wall, though infrequently a allure of impractical earnings gets a improved of people. The Belvedere Ponzi liaison expose’ should have acted as a sheer warning dual years ago. But in Sep final year Russian-based MMM Global was listed as a intensity pyramid intrigue by a National Consumer Commission of South Africa, charity 30 percent returns. And worse yet, it was run by a famous fraudster Sergey Mavrodi, who was convicted of defrauding 10 000 investors of around R520 million in a Russian justice in 2007.  Nothing was taken serve and now Mavrodi’s left into hiding, with investors potentially cashless. And as most as investors have to take shortcoming for their actions, certainly regulators need to get some-more concerned and have some-more firepower to stop situations like this. Prevention is improved than a cure. Fin24’s Matthew le Cordeur lays out a finish story below, as another one bites a dust. – Stuart Lowman

By Matthew le Cordeur

Cape Town – Russian crook Sergey Mavrodi has allegedly left into stealing after announcing that his Bitcoin-based MMM Global intrigue had unsuccessful and was shutting down this weekend.

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