Rus News Journal

Mavrodi declared bankruptcy MMM - 2011

the Founder of financial pyramids Sergey Mavrodi has declared that on an abacus   MMM - 2011 there is no money for calculation with all participants of the project, and for this reason company existence will be stopped. The businessman, at the same time, is assured that it will be possible to cover a part of debts at the expense of means of its new child – MMM - 2012.

Mavrodi has declared that is ready to cut down advertising budgets of the new project to compensate a part of expenses of investors. Thus the businessman recognised what to repay debts to all investors it is impossible, passes RIA Novosti news agency.

Payments under project MMM - 2011 have been frozen in May, 2012. Mavrodi characterised this measure as « introduction of a mode of calmness ». At the present of necessity for its continuation, according to Mavrodi,   no, as the businessman   it was assured of crash of the project.

Sergey Mavrodi has received popularity in 1990 - e years as the founder of financial pyramid MMM. Investors of the company   were over 10 million persons.

Read also:   Pyramid MMM - 2011 has failed. Why Russians have again walked twice into the same water?