Mavrodi,
62, was reported to have died of a heart attack at a hospital in Moscow,
capital city of Russia, on Monday.
A
passer-by at Polikarpov street was said to have called an ambulance after
Mavrodi complained of weakness and pains in his chest on Sunday evening.
Mavrodi
founded his MMM financial pyramid in 1989. It was a typical ponzi scheme in
which earlier investors receive their profits from subsequent investors.
He
promised returns of 20 percent to 75 percent a month as well as lotteries and
bonuses for investors.
As soon as
the number of new clients stopped growing, the pyramid collapsed, causing huge
financial losses for at least 10 million people.
Three
million Nigerians reportedly lost
N18bn to the ponzi scheme after it crashed in 2017.
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