Why people still trust the MMM?
Throughout this year The Ministry of Finance has been developing a law which would let the authorities block Ponzi-scheme-using companies from their very beginning before their bankruptcy occurs. The draft bill which has received acceptance from a dozen of organizations such as the FSA (Federal Security Agency), Attorney General, Ministry of Inner Affairs, the Bank of Russia, The Ministry of Economic Development, The Customers’ Rights Commission and others is however considered underworked. The MMM’s (the most famous Ponzi scheme company in Russia) managers, at the same time, are laughing at the bill saying it is no threat to them.
At the moment MMM has got more than 1 mil investors in former Soviet Union. More than 40 thousand people have become its members in Saint Petersburg last year. Prime-Minister Dmitry Medvedev has earlier commented this situation by saying that such investors “obviously have some severe brain problems”. But that’s what laws are supposed to be for. They’re aimed at protecting those whose intellectual capabilities are at scarce. So the legislatives believe that the law on Ponzi scheme would be very useful.
-What does the term “fund raising” stand for in this bill? – Denis Pushilin, the head of MMM-Petersburg comments the bill during his press conference. –What are the criteria for differentiating between active and not-so-active fund raising? As the matter of fact the bill proposes different fines for these actions. While phrases like “the one who hasn’t raised a cent but tried hard” just look funny to me.
As you can see, MMM’s management isn’t concerned about the new bill. This organization is still on track. Its managers cheerfully meet the press and answer to any questions raised. Some of them have even started political careers. For instance, MMM-Moscow executive, Andrey Kim is running for the Moscow Mayor’s Office. One of the points of his election agenda is to make the authorities give MMM full freedom to act.
- They’re just boneheads, - Kim says about The Ministry of Finance’s employees using hard lexis. – How could they spend the whole year and show such little result. The bill is so underdeveloped. It consists only of mistakes. For example, there is a link to section 4 while there are only three sections in the whole document. They have crafted this bill together. But let them have fun with it. We’ll continue to work as always.
Kim was sure that the Duma wouldn’t even review this draft bill. The next hearing is postponed to the fall session of parliament. Meanwhile, by the President’s order some bills may have priority review. However, this time it’s not the case.
More than that, MMM representatives are threatening their foes with lawsuits.
- Those who are calling MMM a fraud will get lawsuits, - warn they. – We will so sue you. Only the court can state that MMM is a scam.
Therefore, MMM representatives feel like they have impunity. There is a warning on their website stating that each investor can lose all the money he/she has brought into the system.
It’s important to notice that MMM representatives use various banks to source the business but at the same time their main idea is to destroy modern financial system. New investors’ recruitment usually begins from enlightening them with “The MMM philosophy”.
- The financial system is conceptually unjust, - says the MMM Party head, Denis Pushilin. – What we have now is the system of financial slavery. Think about it: slaves used to work for food and shelter. Nothing has really changed since then, only now it is financial slavery. We now work for food and shelter but use money in exchange. We want to put the world upside down, break this system.
The propagandists at first use pension fund and US dollar as proof of their words. They assure people that mentioned financial institutions have no differences with the MMM. For instance, current retired people are getting their pensions from money paid by future retirees. Such situation, they say, continues only while the future retirees are willing to pay for the current ones. If they refuse to do so there will be no pensions in the country. For those who don’t have common knowledge of the economics such explanation may seem convincing.
- When Mavrodi was arrested in 1994 the money from MMM’s office was loaded to big Kamaz trucks and moved away, - MMM’s managers assure. – Later Mavrodi was released because they couldn’t accuse him of anything. At the same time he was ordered to give money back to investors but there was no money to hand out anymore. Nobody knows where those Kamaz trucks took it.
Meanwhile, as previously reported by OK-inform, Indian law enforcers have swiftly stopped MMM’s actions in their country. However, the information was later received that those arrested persons had been released by the local police. By the way there was a long comment list to the previous article on this topic. MMM representatives have been especially outraged by the fact that the authors had stated that only those who studied badly at school and don’t have a clue about math basics could believe in magical power of financial pyramids.
- C-students know how to survive, - MMM representative Pushilin believes. – They know how to deal with things, think fast, open businesses and pay bribes which is important in today’s world. They start businesses and hire A-students.
MMM management keeps on recruiting new investors using such an inspiring slogan and absence of clear laws.
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