Sergei Mavrodi to run for parliamentary elections in Ukraine

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Aug. 2, 2012, 3:31 p.m. | Politics — by Interfax-Ukraine

The founder of the MMM financial pyramid scheme, Sergei Mavrodi


The founder of the MMM financial pyramid scheme, Sergei Mavrodi, has announced the creation of the MMM political party, which he said will run in the upcoming parliamentary elections in Ukraine.

"It's time to strengthen ideology, as not everyone understands our goals. And we are changing the world! So, I would like to announce the foundation of a public and political direction in our system. The MMM political party has been set up in Ukraine and we will run in the upcoming elections to the Verkhovna Rada of Ukraine," he said in a video address posted in the Internet.

As reported, on June 16 Mavrodi announced that the MMM-2011 pyramid had closed.

He also said that all assets of MMM-2011 would be spent on payments to participants of the scheme according to the formula "face value plus 10% minus the sum that has been received."

"Of course we don't have enough money to pay everyone. This is a pyramid! Debts always prevail over assets. We will make up for the lack of funds from MMM-2012," Mavrodi said.

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