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You're reading: Sergei Mavrodi to run for parliamentary elections in Ukraine

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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