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wholesale j crew jewelry In early 1994, the three brothers of the Russian resident Marfrojan announced the establishment of an investment fund called MMM, claiming that its goal was to build it into the largest investment fund in Russia. The company guarantees to the public that as long as you invest at $ 100 from MMM, you can recover $ 500 in half a year. In addition, up to 400%of the year -end return rate! Under such a call, a total of about 15 million people in Russia purchased MMM companies. Due to the addition of a large number of shareholders, the stock price of MMM investment funds soared from about 1 US dollars per share to $ 54.
MMM fundraising is another typical pyramid investment fraud. Its operating procedure is that after the company's initiator plans to set up a funding plan, he is committed to seduce investors to participate in the shares. When the accumulation of funds reaches a certain amount, it will start to use these funds to provide investors in return. As long as the stocks raised reached a certain scale and can be continuously circulated, they should cope with daily payment and year -end dividends. However, once the investor's confidence is shaken, the pyramid will collapse, and those shareholders who participated in the investment later will become the victim of fraud and become a victim of fraud.
. Different from Albania, Russia's MMM is not because of oil withering, but a "accidental death" in the middle of the way. If it wasn't for the Russian federal government, the development of similar MMM funds would impact Russia's commercial banks and affect savings rates. MMM would have been "quite" longer. On July 22, 1994, the Russian government suddenly publicized that it was doubtful for MMM's high returns. The news almost immediately led to this appalling "iceberg" eventually "melting" within one week.