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MMM founder is dead, Sergei Mavrodi dies of heart attack

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Sergei Mavrodi dies of heart attack

Russian businessman tycoon Sergei Mavrodi, whose MMM ponzi scheme deprived millions of Russians of their hard earned savings in the 1990s, has died of a heart attack, according to a Russian media outlet. MMM’s history cannot be told in Nigeria without mentioning the lives lost due to the scheme’s break down in December, 2016.

Reports has it that the 62-year-old Sergei was rushed to the hospital late on March 25 with a severe pain in his chest and died several hours later in the hospital.

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Mavrodi’s MMM financial pyramid was built on a typical Ponzi scheme in which earlier investors receive their profits from subsequent referred investors. Mavrodi promised returns of 20 percent to 75 percent a month, as well as giveaway lotteries and bonuses for the smart investors. The business was booming until it occuree to many that they’ve been played.

As soon as the rate of new clients dropped , the pyramid collapsed, causing huge financial losses for at least 10 million people, in some cases leading them to abject destitute.

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In 1994, Sergei was elected as a lawmaker in Russia, a decision he later said was to ensure he received immunity from prosecution. In 1996, he lost his parliamentary mandate.

In 2007, a Moscow court found him guilty of financial fraud and sentenced him to four and half years in a penal colony.

In 2011, Sergei launched another pyramid scheme called MMM-2011, calling on not satisfied investors to purchase so-called Mavro currency units in a bid to get rid of the “unfair” financial system. 15 months later, Mavrodi halted the project.

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From 2011-16, Mavrodi launched Ponzi schemes under the MMM brand in various economically serious countries like India, China, South Africa, Zimbabwe, and Nigeria.

In many of those countries, Mavrodi’s operations were subsequently shut down or suspended one of which was in Nigeria.

Stories of Nigerians who lost their lives or dropped to zero level made the news when MMM crashed in Nigeria.

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1 Comment

1 Comment

  1. Anonymous

    March 26, 2018 at 10:01 pm

    You cannot eat Nigerians their money and go free. RIP Mavrodi, RIP MMM

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Boyfriend chops girlfriend’s head because her food was tasteless

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If you want to read the sad story of a frustrated man who beheaded his girlfriend because the cabbage soup she made was tasteless, stay on this page.

Boyfriend chops girlfriend's head because her food was tasteless

Boyfriend chops girlfriend’s head because her food was tasteless

The anonymous man also tried to take his own life afterwards, but it failed.

Mixed feelings – 😶.

The 43-year-old man  recently lost his job and took to drinking to hopefully suppres the pain.

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Suddenly he became angry when his 47-year-old partner cooked tasteless Shchi (cabbage) soup. He then chopped her head which lead to her death at their home in Kozlovka village, Russia.

Police officers found the body of the dead woman, with her head berated, in Russia, Smolensk region.

The woman’s lover has been detained at the couple’s home and a criminal investigation has been launched according to part 1 article 105 of the Russian criminal code – deliberate murder.

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People lived around said that the man was never that aggressive but after he recently lost his job and started drinking, he went bananas.

Boyfriend chops girlfriend's head because her food was tasteless

Boyfriend chops girlfriend’s head because her food was tasteless

There have been several cases where job loss can make one take the wrong turn in life and do something unimaginable. That’s why laid off workers need a therapist if any unusable behavior is read.

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This is the second case in less than a week in Russia where complaints about bad cooking have resulted in murder.

Linda Ikeji reports that just last week, a woman murdered her husband by stabbing him at least 35 times because he had commented on the food she served their guest.

The husband said that the food she served their guests was lacking salt.

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Local Government Chairman kneeling down after he shouted “APC” during PDP campaign rally

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Francis Ayagah, Local government chairman of Gwer west local government area in Benue state kneeling down as instructed after he chanted “APC” during a PDP campaign rally.

Local Government Chairman kneeling down after he shouted "APC" during PDP campaign rally

Local Government Chairman kneeling down after he shouted “APC” during PDP campaign rally

Don’t put all the blame on Francis Ayagah. He was elected as LG Chairman under the sweeps of APC, but he defected to the umbrella of PDP after power changed hands in Benue state.

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Eunice Ortom, wife of Samuel Ortom, Benue state Governor organized a rally to campaign for the re-election of her husband as Gorvenor. Eunice Ortom hails from the local government which Francis Ayagah leads.

Francis Ayagah was called up to the podium to make a speech. Unfortunately for him, he lost track of the political party’s platform he is on.

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Report has it that he shouted “Aaaaa Peee Ceeee” twice to a crowd of PDP supporters who couldn’t hold back the disgrace.

Subsequently he was summoned by the leaders of PDP in Benue state and was seen kneeling down.

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Power Outage hit Murtala Mohammed Airport for five hours – Read what passengers did

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It came as a shock as Murtala Mohammed Airport in Ikeja Lagos State went into stone age for five hours. The airport experienced power outage which forced the terminal to switch to manual for continuity.

Power Outage hit Lagos Airport for five hours - Read what passengers did

Power Outage hit Lagos Airport for five hours – Read what passengers did

The General Manager, Corporate Communications, FAAN, Henrietta Yakubu, said that the power failure was due to a “minor electrical fault”.

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Sahara Reporters reported that sources close to the terminal reveal that some of the passengers had to pull off their shirt especially the males and use hand fans.

Phew.

Yakubu further stated that FAA  engineers were already working to rectify the “minor electrical fault”, assuring the public that normalcy would be restored soon.

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Yakubu added by saying that the outage did not affect normal flight operations at the airport and flight operations continued uninterrupted.

Well, the terminal crew switched to manual.

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