[3] According to contemporary Western press reports, most investors were aware of the fraudulent nature of the scheme, but still hoped to profit from it by withdrawing money before it collapsed.

[12] The success of MMM in attracting investors led to the creation of other similar companies, including Tibet, Chara, Khoper-Invest, Selenga, Telemarket and Germes.

[13] Regular publication in the media of the rising MMM share price led President Boris Yeltsin to issue a decree in June 1994 to protect investors from false advertising.

[16] Several organisations of "investors" made efforts to recover their lost investments, but Sergei Mavrodi manipulated their indignation and directed it at the government.

[17] A 'Union of Defense of the Rights of MMM Shareholders' emerged, attempting to collect the 1 million signatures required to hold a no-confidence referendum against Yeltsin's government.

[17] [18] In October 1994 Mavrodi managed to win a by-election to replace Andrey Aizderdzis in the State Duma, and with it immunity from prosecution.

[26] The Prosecutor General's Office reopened the case in 1998, when Mavrodi was investigated for fraud and placed on an international wanted list.

[26] While it was believed that Sergei Mavrodi fled to Greece, he was ultimately arrested in Moscow, and investigators concluded that he probably never left the city.

[27] Though no longer current, MMM Bilets share certificates, which bear a resemblance to banknotes and formerly issued in ‘denominations’ of varying amounts, have gained some interest as collectors items.

[citation needed] From 2011, Mavrodi started targeting developing countries in Asia and Africa, promising 30% monthly returns and other promotional offers.

In India, for example, many victims of this scheme reported that once they sent the "help", they received messages saying that the system has restarted and they could no longer access their investments.