Run! Another international scam has collapsed!

The MMM scam collapsed and was liquidated, but it was restarted again, and the original people are still involved! This is a classic portrayal of the real situation of the Chinese people. They know it is crazy speculation and passing the parcel, but they still can't help but gamble! There are too many fools in China, and not enough scammers!

I just heard some hilarious news. The MMM scam that collapsed and restarted at the end of December last year collapsed again a few days ago and announced its second restart.

The international scam MMM has recently signaled its "official" collapse. According to the Financial Times, the MMM administration officially announced to investors on Monday that it would shut down its "Bitcoin Republic platform". The platform has failed and cannot achieve the promised 100% monthly return, but a 30% return is not a problem.

In the past few years, there have been many reports of MMM's collapse, but the platform later announced that it was a system reboot and lured investors to invest again.

The full name of "MMM" is Mavrodi Mondial Moneybox. According to its official website, it defines itself as a financial mutual aid organization where members help each other. Its goal is not to gain profits, but to destroy the world's unjust financial system.

Founder Sergey Mavrodi has repeatedly issued the slogan, "The financial apocalypse is inevitable; together we will change the world"!

MMM Mutual Finance claims that the minimum monthly yield is 30%. It has released a virtual item called "Mavro", which users must first purchase as a helper. After receiving the return, if you post a thank-you video on the MMM platform, you can also get a bonus.

The MMM platform scam has a long history. More than 20 years ago, it was identified by some countries as "one of the largest Ponzi schemes in the world."

In February 1994, Russian Sergey founded the "MMM Financial Pyramid" with a registered capital of only 100,000 rubles. MMM placed advertisements in almost all well-known Russian media at the time, using high returns as bait to attract investors. Millions of people in Russia participated in MMM at the time.

After surviving for three years, the MMM project went bankrupt in 1997 and its founder Sergei was sentenced to four and a half years in prison. After being released from prison, Sergei returned to his old business and re-established "MMM Mutual Finance".

He claimed that MMM Mutual Finance has designed a financial compound interest system through a "perfect mathematical model". "I will not touch the money at all. I am just pointing out a way for investors to make money."

After Sergey was released from prison, he went to developing countries such as India, South Africa, and Indonesia to continue promoting "MMM Mutual Finance", which became popular again. Since April last year, the MMM platform has been introduced to China, Thailand, Vietnam, Myanmar and other countries.

(MMM Chinese advertisement, readers please do not believe it easily!)

In January 2016, the central bank, the China Banking Regulatory Commission, the Ministry of Industry and Information Technology, the State Administration for Industry and Commerce and other four departments issued notices several times, warning of the risks of the MMM platform, saying that its operating model has the characteristics of illegal fundraising and pyramid selling, and reminding investors to be vigilant of its risks. The central bank said:

The operating model of "MMM" and similar entities has the characteristics of illegal fund-raising and pyramid schemes. They are publicly promoted through various channels such as websites, Weibo, and WeChat, promising abnormally high interest rates to lure people into investing funds.

At the same time, a bonus system such as "recommendation award" and "management award" is set up to encourage investors to develop personnel to join, and a hierarchical relationship is formed based on the order of joining and the rebate amount is calculated, which has the characteristics of illegal fund-raising and pyramid schemes.