MMM Founder Dies at 62

MMM Founder Dies at 62

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The founder of a Ponzi scheme that duped Nigerians of at least N18billion by 2016, Sergei Mavrodi, died on Monday in Moscow, Russia, reportedly of a heart attack. He was aged 62.

The MMM collapsed early in 2017, after a month-long pause.

About 3million Nigerians lost money to the fraudulent scheme, despite repeated warnings by monetary authorities.

Many MMM victims have taken to the social media to castigate Mavrodi. Some said a deity from Nigeria killed him. Some demanded his corpse. Yet others attributed his death to fear that Nigerians would meet him during the 2018 sports fiesta taking place in Russia in the next two months.

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