MOSCOW, June 29 - RAPSI. Sberbank 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.

In late May, Sergei Mavrodi, the founder of a giant financial pyramid in the 1990s and МММ-2011 organizer, announced the launch of a new МММ-2012 project, after suspending pay outs for the previous project.

On June 16 he stated that МММ-2011 cannot be resumed and the funds are not sufficient for settling payments for all of its participants.

Instructions on the MMM website explain how prospective pyramid participants can get involved in the scheme. It says that the applicant should get a Sberbank Momentum card, activate the Mobile Bank service and transfer money via a pay-station. "That's all it takes for the interest starts flowing in", the scheme operators claim.

"The bank hereby notifies its clients that MMM participants distribute MMM advertising leaflets, use Sberbank individual client accounts for settlements between МММ-2011 and МММ-2012 participants and promise compensations to Soviet-era Sberbank depositors on behalf of Sberbank," the bank reported on Friday.