LAGOS FEBRUARY 14TH (NEWSRANGERS)-What was anticipated to be the best of Yuletides soon became a gloomy one in 2016, as hopes of millions of Nigerians, including celebrities’ dreams of earning returns on investments, were shattered after Mavrodi Mundial Moneybox (MMM), by far the largest Ponzi scheme ever recorded in the country, announced that it was…
LAGOS FEBRUARY 4TH (NEWSRANGERS)-In a case reminiscent of the MMM saga, Canada’s leading cryptocurrency exchange company has said it cannot immediately repay customers’ $190m because its founder died with their passwords. According to the Sky News, founder of QuadrigaCX, 30-year-old Gerald Cotten, died of alleged complications with Crohn’s disease during a trip to India where…
LAGOS MARCH 26TH (NEWRANGERS)-Russian businessman Sergei Mavrodi, whose MMM pyramid scheme deprived millions of Russians of their savings in the 1990s, has died of a heart attack, according to Russia media. Reports said the 62-year-old was rushed to the hospital late on March 25 with pain in his chest and died several hours later. Mavrodi’s…