Full article can be found on the Embassy's new website: www.russianembassyza.mid.ru
tel: +2712 362-1337
fax: +2712 362-0116
tel: +2712 362-7116
fax: +2712 362-7090
MMM-2011 is a financial pyramid scheme, founded by Sergei Mavrodi, a Russian citizen who was found guilty by a Russian court of defrauding over 10 thousand private investors of $4, 3 million through his company MMM established in 1989.
Initially the MMM was a computer and office equipment importing company, that over time converted into a Ponzi scheme in 1993. The company attracted private investors’ money, promising annual returns of up to 1000%. In February 1994 MMM started an aggressive TV advertising campaign making the public believe its shares were a safe and profitable investment. And yet, in July 1994 the MMM offices were closed by police for tax evasion and the company ceased its operations.
MMM has not refunded money to its investors ever since, with at least 50 of them committing suicide, and the real damage by Mavrodi and its MMM is estimated much higher than was established by the court of law.
In 2003, the MMM founder Mavrodi was found and arrested by police, convicted of multiple frauds, and spent four years in prison. After his release in 2007 he got down to creating a new pyramid scheme called MMM-2011.
Посольство Российской Федерации в Южно-Африканской Республике располагает предварительной информацией о том, что в воскресенье, 25 октября, на одном из пляжей г.Дурбана обнаружено тело утонувшего российского гражданина. Активно работаем с южноафриканскими властями с тем, чтобы получить от них официальное подтверждение произошедшего и прояснить все обстоятельства данного трагического случая.
“…The past year was not an easy one. The world situation has exacerbated. We witnessed growing tensions in the Middle East and a number of other areas of the world, while a state coup provoked civil war in Ukraine.
Russia is making significant efforts to reconcile the parties and normalise the situation. We have already received and continue receiving thousands, even hundreds of thousands of refugees and are doing all we can to prevent a humanitarian catastrophe.
However, our position, our independent policy and even attempts to help those in need, including in Ukraine and some other areas, are causing outright irritation on the part of those we traditionally call our colleagues and partners.
They are using their entire arsenal of means for the so-called deterrence of Russia: from attempts at political isolation and economic pressure to large-scale information war and special services operations. As it was recently stated quite openly: those who disagree will have their arms twisted periodically. However, this does not work with Russia; it never has and never will.