MMM Global Closes Republic of Bitcoin, an Alleged Ponzi Scheme
MMM Global has announced that it is closing its Republic of Bitcoin, a website promising up to 100% returns on donations. The company, called a “Ponzi” scheme by many, stated in a blog that the Republic of Bitcoin was an experiment that has failed. The post said the Republic of Bitcoin is closing because it could not pay 100% per month. MMM required participants to donate funds to acquire “Mavro,” which appear to be a point system. The site indicated a yield of 100% month was possible. Participants’ “RB-Mavro” have transferred to MMM-structures in participants’ countries, the post said. In....
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MMM Republic of Bitcoin scheme shuts down, investors uncertain about the future of their investments in the scheme. What is that one thing which always holds true for Ponzi schemes? They all have to close down, and at least some of the investors have to lose money. Now the same seems to be happening with the alleged Ponzi scheme – MMM. As it turned out, the Sergey Mavrodi‘s brainchild yesterday announced that it is going to close its doors. According to reports, the announcement is followed by something even more serious which the investors aren’t liking one bit. Their investments in the....
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