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Moneylife » Life » Public Interest » MMM India, another MLM taking people for “double-your-money” ride

MMM India, another MLM taking people for “double-your-money” ride

Moneylife Digital Team | 24/04/2013 05:00 PM | 

A Russian with history of duping several gullible people in Russia and the US is spreading his “mutual mutual aid fund” idea called, MMM India. This is nothing but a pure money circulation scheme

Mavrodi Mondial Moneybox India or MMM India, a multi-level marketing (MLM) or a Ponzi (pure money circulation) scheme set up by Sergei Panteleevich Mavrodi, a Russian businessman and financier, is spreading its wing in India, especially in rural areas. According to Wikipedia, in 2007 Sergei Mavrodi was found guilty in a Russian court of defrauding 10,000 investors out of 110 million roubles or about $4.3 million. But more about Mavrodi and his businesses later.

 

MMM India, the Ponzi scheme says it is neither a company nor a business but a mutual mutual aid fund. In simple words, it takes Rs5,000 from you, gives you 100 units of some virtual currency called Mavro. When you bring two more people, you would receive 20 Mavros in your e-wallet. The new member also deposits Rs5,000 in the old member's account, thus your ‘investment’ is repaid. Virtually, because the cash is converted into Mavros in your e-wallet and then there are ‘minor’ terms and conditions, which makes it difficult to get your real money back.

 


The MMM scheme mandates all members to keep at least 100 Mavros in their account. That means your Rs5,000 are locked permanently in air. This is because MMM is neither a company nor a business as it operates only through the internet. This helps the double your money scheme to avoid all kind of legal permissions and regulations. MMM likes to call itself an international, free, self-adjusting community or social virus. Unfortunately, it is nothing but a money-gobbling virus.

 

According to Who.is data, MMMIndia.in is registered by Ivan Ivanov from Petrozavodsk, Russia and the domain would expire on 11 July 2014. Its DNS record shows that mmmIndia.in uses an ID address 193.109.247.68 located in Moscow.

 

MMM India is nothing but a pure money circulation scheme that works on enrolling new members. The moment there are no new members, the scheme collapses. A new member pays money (here virtual money!) to the old member and it is repeated infinite times.

 

Two basic questions need to be answered. One, in the end who controls the 100 Mavros, or Rs5,000 that the member needs to keep in his virtual account? And second, if the idea of virtual money or mutual mutual aid fund is so great, then why the government or Reserve Bank of India (RBI) is not implementing this? Why such a great novel (!) idea needs to be sold through chain marketing route instead of customary marketing system that has served human society for thousands of years?
 

In short, strictly stay away from MMMIndia and it is bound to vanish sooner than later.

 

Coming back to MMM's founder and ‘brain’ Sergei Mavrodi, on 22 December 1997 declared MMM as bankrupt and disappeared. He was on the run until his arrest in 2003.

 

While on the run, in 1998 Mavrodi created Stock Generation (SG), a classic pyramid scheme presented as a “virtual stock market game”. However, its game was over once it caught attention of the US Securities and Exchange Commission (SEC). In 2003, the SEC obtained permanent injunctions against SG. Mavrodi was then placed under police custody. He was convicted of holding a fake passport and was sentenced to 13 months in prison. On 22 May 2007, Mavrodi left prison, having served his full sentence.

 

On 28 April 2007, the Moscow court sentenced him to four and a half years in a penal colony (a settlement used to exile prisoners and separate them from public). The court also fined him 10,000 roubles or about $390.

 

In January 2011, Mavrodi launched another pyramid scheme called MMM-2011, asking investors to buy so-called Mavro currency units. He frankly described it as a pyramid, adding “It is a naked scheme, nothing more ... People interact with each other and give each other money. For no reason!”  In May 2012, he froze the operation and announced there would be no more payouts.

 

In 2011 he launched a similar scheme in India, called MMM India, again stating clearly that the vehicle is a pyramid, says Wikipedia. Looking at the past record of Mavrodi and his money multiplier schemes, you do not need an astrologer to tell about the future of MMM India. This Ponzi from Russia only loves your hard-earned money, unless you are a super spy like the 007.


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96 Comments
SHAFI

SHAFI 1 year ago

ALL PIC KEY THAG HAI UNKO IMMEDIATE ARREST KEROOOOOOOOOOOOOOO

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alifa

alifa 1 year ago

MMM is not a company. In MMM there is no boss or owner. MMM is an international, free, helping community!
DON'T SPREAD WRONG INFORMATION!
**THIS IS WORLD'S COMMON MAN REVOLUTION. AND GOING ON IN MORE THAN 60 COUNTRIES!**
*MAHATMA GANDHI WENT TO JAIL FOR OUR FREEDOM! HE WAS RIGHT OR WRONG?
*MAVRODI IS TODAY'S GANDHIJI! HE IS NOT TAKING ANY MONEY FROM ANY COUNTRIES MMM SYSTEM!
**KNOW THE MMM, THEN SAY IT!

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SHAFI

SHAFI 1 year ago in reply to alifa

alifa@jyda moneyinvest ker diYA HAI MMMINDA MEY JO IDEOLOGY BAKHAN KER RAHEY HAI UNKO PATA HONA CHEYEY KI ISS WAKT BAND BAJ GAYA HAI MMM KA MONEY 5 %KATKER AA RAHA HAI JAAAAOO KAHEEE LEAGAL WORK KEROOO JAIMMMINDIA SEY KUCH NHEE HOGA GOVT KI NAZER MEY YEH FRUD HAI FRUAD WIKIPEDIA MEY ISKEY KASEEDEY NHEE LIKEY BURAI HEE HAI INDIAN LOGO KO KOI SUDER NHEE SAKTA HAI 1 LAKH AISEE ULTEE SIDEE CO MEY LAGA DEYGA JAAHA JARA SA RUKAWAT HUEE GEEE BHIS PANI MEY

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alifa

alifa 1 year ago

MMM is not a company. In MMM there is no boss or owner. MMM is an international, free, helping community!
DON'T SPREAD WRONG INFORMATION!
**THIS IS WORLD'S COMMON MAN REVOLUTION. AND GOING ON IN MORE THAN 60 COUNTRIES!**
*MAHATMA GANDHI WENT TO JAIL FOR OUR FREEDOM! HE WAS RIGHT OR WRONG?
*MAVRODI IS TODAY'S GANDHIJI! HE IS NOT TAKING ANY MONEY FROM ANY COUNTRIES MMM SYSTEM!
**KNOW THE MMM, THEN SAY IT!

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alifa

alifa 1 year ago

Why this idea is not "sold through customary marketing system"? And why are you so concerned about it? By chance, are you getting paid by them?

We believe, that this mechanism must belong to ordinary people and also help - to ordinary people. Customary marketing system was created by the so-called "global goverment" as a mecahnism for slaves. But the mechanics of making money out of thin air they have left for the Fed, dollar and the banking system. That's why they forbid it for ordinary people, in any country, in any form. Even in such form as Mutual Aid Fund.

And that is why Sergei Mavrodi with his idea is so persecuted. And please, try to think why will a person if he has served prison - again and again starts spreading this idea among the people, when he knows and realises all the risks??? Because of the money? If you check more careful - in all the court cases it is proved that Sergei Mavrodi didn't take any thing when he was actually capable of taking advantage of the billions of dollars. So for what he is spreading the idea then? Just read carefully his life history and ideology and you will understand everything.

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jayalakshmi

jayalakshmi 1 year ago in reply to alifa

You got it right, Alifa. Sergey Mavrodi truly loves the people of the world. So much that he is willing to go to jail to see if the suffering humanity is relieved a little of their financial worries. The man is a hero, persecuted by everyone for spreading his idea to so many countries. Have you received help in return for the Rs5000 you gave?

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alifa

alifa 1 year ago in reply to jayalakshmi

yes ialso received help in return of my rs 500 i gave help.....

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SHAFI

SHAFI 1 year ago

Dear mavrodians TV 9 EXPOSE MMMINDIA WATCH Hindi News Chanel bahut jaldee

http://www.youtube.com/watch?v=ThA30B-j9...

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alifa

alifa 1 year ago in reply to SHAFI

r. Vineett bhatera of the United States has found new cancer in human beings, caused by Silver Nitro Oxide. Whenever you buy recharge cards, don’t scratch with your nails, as it contains Silver Nitro Oxide coating and can cause skin cancer. Share this message with your loved ones.
Important Health Tips:
Answer phone calls with the left ear.
Don't take your medicine with cold water....
Don't eat heavy meals after 5pm.
Drink more water in the morning, less at night.
Best sleeping time is from 10pm to 4 am.
Don’t lie down immediately after taking medicine or after meals.
When phone's battery is low to last bar, don't answer the phone, bcos the radiation is 1000 times stronger.
Can you forward this to people you care about? I just did, Kindness costs nothing and knowledge is power.....

U.S.A. CHEMICAL Research Center Gives New Result : Dont Drink Tea in Plastic Cups n Dont Eat Any Food on Polythene Paper. The plastic reacts to heat n It Will Cause 52 Types of Cancers. So, This Good sms is Equal to 100 Waste sms.
Pls Forward to All whom U care. http://www.mmmindia.in

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