Sergey Mavrodi is popular for creating MMM, a scheme that has a trail of controversy behind it. However, not many people know about his political career. Do you know what government institution was Sergey Mavrodi elected to? Read all the details about this institution and Mavrodi's political career.
Who is Sergey Mavrodi?
Sergey Panteleevich Mavrodi is the founder of the popular MMM financial pyramids scheme. He is a Russian and was born on the 11th of August 1955. He is a graduate of the Moscow Institute of Electronic Engineering. He began MMM as a cooperative society in Russia in 1989. Since then, MMM has gone on to become more popular than its founder and has spread to other countries, Nigeria included. However, our focus today is not on MMM but on the political career of the man who created it.
Sergey Mavrodi political career
Sergey Mavrodi was arrested in 1994 and the operations of his joint stock company, “MMM” were stopped. While he was in prison and awaiting trial, Mavrodi began to collect signatures to register himself as a candidate for the State Duma. It is the name for the lower house of the Russian Parliament. Two months after he began collecting signatures, he was able to secure his registration and release. On the 30th of October 1994, Mavrodi became a Member of Parliament thanks to his popularity and high ratings. During his campaign, Mavrodi made it obvious that one of his reason for running for office is to secure parliamentary immunity from prosecution. This would prevent him from being tried and probably allow his company to resume operations.
READ ALSO: Sergey Mavrodi biography
Sergey Mavrodi was elected as a deputy. However, he did not attend any of the parliamentary meetings. He also turned down receiving his salary and the use of all benefits given to the deputies. On the 6th of October 1995, a year after he was elected, his parliamentary powers were terminated by the State Duma before expiry. The state needed reasons to remove him from the Parliament. So, his parliamentary mandate was revoked on the basis that he was conducting business activities while in office. An act that is contrary to the Russian constitution which prohibits Members of the Parliament from conducting business while in office.
Sergey Mavrodi tried to register himself as a candidate for the Russian Presidential election in 1996. But it was denied because most of the signatories on his application were believed to have been forged.
The MMM party
Sergey Mavrodi formed a political party in Ukraine in 2012. The goal of the party was to cause a world financial apocalypse. Mavrodi held the founding congress of the party in a town called Kursk. The Congress slogan was “We are changing the world”. The goals and intentions of the party were not clear to many at the time it was formed. Not much was heard about the party afterward.
So, Mavrodi was elected as a Member of the Parliament to the State Duma, the Lower House of the Russia’s Parliament. He lasted one year in office before his parliamentary mandate was revoked. By the way, he is also the author of many books, about one of which you read in the link below.