МММ was a Russian company that perpetrated one of the world's largest Ponzi schemes of all time, in the 1990s.By different estimates from 5 to 40 million people lost up to $10 billion. The exact figures are not known even to the founders. Russia MMM was established in 1989 by Sergei Mavrodi , [2] his brother Vyacheslav Mavrodi, and Olga Melnikova. The name of the company was taken from the first letters of the three founders' surnames. Initially, the company imported computers and office equipment. In January 1992, tax police accused MMM of tax evasion , leading to the collapse of MMM-bank, and causing the company to have difficulty obtaining financing to support its operations. Faced with difficulties in funding its foreign trade, the company switched to the financial sector. It offered American stocks to Russian investors, but met with little success. Later, MMM-Invest was created for the purpose of collecting vouchers during privatisation. This effor...
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