Pyramid Scheme Uses Navy Flag in Adverts

MMM-2011, a notorious pyramid scheme company whose activities have sparked outrage from politicians, is using Russian Navy symbols in its latest advertising campaign in the Ukrainian port of Sevastopol, home to Russia’s Black Sea fleet.

The company is driving cars around the city with MMM logos and also flying the Andreyevsky flag, a fleet symbol, inviting people to join the pyramid scheme.

In June this year, Sergei Mavrodi, the mastermind behind MMM, who has previously served jail time for previous pyramid scheme activity, said his new structure was having difficulty paying money back to investors and it was unknown when they might get their money back.

Deputies in the Ukrainian parliament, the Rada, demanded law enforcement do something about Mavrodi and MMM, but the Ukrainian Interior Ministry said he had not broken any laws.

MMM employees were driving around in cars with Andreyesky flags and giving out presents near supermarkets in the city center with MMM logos on Saturday. When asked, they said the cars were flying the flags because some investors in MMM-2011 were Black Sea Fleet personnel.

RIA Novosti could not obtain a comment from the Black Sea Fleet.

Leave a comment