page_title: Sergei Mavrodi
hierarchical_section_title: Sergei Mavrodi
caption_attribution_description: English: Sergei Mavrodi, a Russian criminal
context_page_description: Sergei Panteleevich Mavrodi was a Russian financial fraudster, financial criminal and previously a deputy of the State Duma. He was the founder of the МММ, a scheme that defrauded millions of people around the globe.
  In 2007 Sergei Mavrodi was convicted in a Russian court of defrauding 10,000 investors out of 110 million rubles. Mavrodi claimed he was not the beneficiary of the donations and that he was not used to a flamboyant lifestyle. The charge of which he was later convicted was tax fraud though he claimed that the MMM scheme was not a business, but instead a mutual donation program which there is no law against.
  There were interviews after his release where he claimed MMM Global was behind the bitcoin price rally.
context_section_description: Sergei Panteleevich Mavrodi (Russian: Серге́й Пантеле́евич Мавро́ди; 11 August 1955 – 26 March 2018) was a Russian financial fraudster, financial criminal and previously a deputy of the State Duma. He was the founder of the МММ, a scheme that defrauded millions of people around the globe.
  In 2007 Sergei Mavrodi was convicted in a Russian court of defrauding 10,000 investors out of 110 million rubles ($4.3 million). Mavrodi claimed he was not the beneficiary of the donations and that he was not used to a flamboyant lifestyle. The charge of which he was later convicted was tax fraud though he claimed that the MMM scheme was not a business, but instead a mutual donation program which there is no law against.
  There were interviews after his release where he claimed MMM Global was behind the bitcoin price rally.
caption: Sergei in 2012
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