File - A Tuesday, May 22, 2007 file photo of Sergei Mavrodi, a businessman who founded a notorious pyramid scheme in the 1990s smiling after being set free from prison, in Moscow. (AP Photo/Sergey Ponomarev, File)
Your feedback is important to us!
We invite all our readers to share with us their views and comments about this article.
Disclaimer: Comments submitted by third parties on this site are the sole responsibility of the individual(s) whose content is submitted. The Daily Star accepts no responsibility for the content of comment(s), including, without limitation, any error, omission or inaccuracy therein. Please note that your email address will NOT appear on the site.
Alert: If you are facing problems with posting comments, please note that you must verify your email with Disqus prior to posting a comment. follow this link to make sure your account meets the requirements. (http://bit.ly/vDisqus)
Mavrodi, whose bespectacled face once featured on vouchers issued by the grandiose scheme, died at age 62, his assistant Alexander Vlasov told Moskva news agency.Reportedly 50 people committed suicide after the scheme collapsed in 1997 and the company was declared bankrupt.He was charged with fraud, for which he received a 4-1/2-year sentence in 2007, almost all of which he had already served in pretrial detention.Not dissuaded and still protesting his innocence, Mavrodi recently announced several new online-based MMM schemes in various countries and even launched a new cryptocurrency called Mavro.
FOLLOW THIS ARTICLE