State Duma to consider new Ponzi scheme punishmentState Duma lawmakers have drafted a bill stipulating up to ten year imprisonment and large fines for organizing a new generation of financial pyramids where sources of future payments are not concealed; the bill may be considered during the house's spring session.13:46 14.12.2012
Russia's largest bank warns clients about infamous MMM projectSberbank has warned its clients about the dangers of dubious financial schemes in connection with the appearance of leaflets attracting participants to МММ-2011 and МММ-2012 projects which refer to Sberbank.12:22 29.06.2012
Russian trader to stand trial in $30 mln Ponzi schemeBusinessman Alexei Kalinichenko accused of defrauding investors of 1 billion rubles ($30 million) using a Ponzi scheme has gone on trial in the Urals city of Yekaterinburg.13:53 27.06.2012
Attempted fraud case opened in infamous Ponzi schemeInvestigators have opened a criminal case for attempted fraud involving the MMM-2011 investment company upon the Moscow Prosecutor's Office's request.14:57 07.06.2012
МММ-2011 mastermind to face prosecution if new Ponzi scheme collapses, lawyersMMM-2011 Ponzi scheme founder Sergei Mavrodi will be held liable if the pyramid collapses, Russian lawyers surveyed by the Russian Legal Information Agency said.12:16 01.06.2012
Evidence of fraud found in infamous MMM-2011 Ponzi schemeA court has banned the advertising of the ignominious MMM-2011 Ponzi scheme in Volgograd region.12:04 18.05.2012
MMM-2011 Ponzi scheme mastermind denies new criminal caseMMM-2011 Ponzi scheme founder Sergei Mavrodi has denied the new charges brought against him, calling them unfounded. However, he will not be appealing them.15:26 12.05.2012
Infamous Ponzi scheme founder faces new criminal caseThe police have opened a criminal case against infamous Ponzi scheme founder Sergei Mavrodi. He is now suspected of assisting the MMM-2011 head in Novosibirsk region, Alexei Astafyev.12:47 11.05.2012
Financial markets regulator warns against investment into Ponzi schemesThe Federal Service for Financial Markets has warned the public about investing in pyramid schemes.13:46 11.04.2012
Infamous Ponzi scheme founder continues to evade justiceBailiffs failed to bring the notorious Ponzi scheme founder Sergei Mavrodi to the Moscow Magistrates Court for a hearing.15:02 30.03.2012
Hearing of Mavrodi's administrative case postponed againThe Moscow Khamovnichesky Court has once again postponed until April 3 the hearing of the administrative case against Sergei Mavrodi. In the early 1990s, millions of people suffered from Mavrodi's MMM Ponzi scheme. He was sentenced to four and a half years in prison for fraud and was released only in May 2007.14:14 29.03.2012
Infamous Ponzi scheme founder avoids justiceThe defense attorney of notorious MMM Ponzi scheme founder Sergei Mavrodi told journalists that he knows nothing about the whereabouts of his client.14:15 28.03.2012
Lithuanian authorities to investigate infamous ponzi schemeThe Lithuanian Prosecutor General's Office has started investigating the MMM-2011 pyramid scheme founded by renowned businessman Sergei Mavrodi.14:38 22.03.2012
Ponzi scheme head sentenced to 8 years in prison for $640k fraudA court sentenced a resident of Sochi to 8 years in prison for organizing a Ponzi scheme and stealing over $640,480 from local residents.16:27 27.12.2011