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MMM Founder, Mavrodi, Dies of Heart Attack

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Russian businessman and founder of the MMM Pyramid scheme, Sergei Mavrodi, is dead.

According to Russian media, Mavrodi whose MMM pyramid scheme deprived millions of Russians their savings in the 1990s, died of a heart attack.

Radio Free Europe/Radio Liberty reports Monday that the 62-year-old was rushed to the hospital late on March 25 with pain in his chest and died several hours later.

Mr. Mavrodi’s MMM financial pyramid was a typical Ponzi scheme in which earlier investors receive their profits from subsequent investors. It also promised returns of 20 per cent to 75 per cent a month, as well as lotteries and bonuses for investors. As soon as the number of new clients stopped growing, the pyramid collapsed, causing huge financial losses for at least 10 million people, in some cases leaving them destitute.

In 1994, Mr. Mavrodi was elected as a lawmaker, a decision he later said was to ensure he received immunity from prosecution although he later lost his parliamentary mandate.

A Moscow court found him guilty of financial fraud in 2007 and sentenced him to 4 1/2 years in a penal colony.

Mr. Mavrodi launched another pyramid scheme called MMM-2011, calling on investors to purchase so-called Mavro currency units in a bid to get rid of the “unfair” financial system. The project was however halted after a few months.

Between 2011 and 2016, Mr. Mavrodi launched Ponzi schemes under the MMM brand in India, China, South Africa, Zimbabwe, and Nigeria.

The operations were subsequently shut down in many countries, including Nigeria.

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Army Buries 17 Personnel Killed in Okuama Community

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The 17 military personnel killed in Okuama community in Delta on March 14 have been laid to rest.

The corpses of the soldiers, which arrived at the National Military Cemetery in Abuja at about 2:26 pm on Wednesday, were committed to mother death after burial rites were observed.

President Bola Tinubu, Service Chiefs and other dignitaries were in attendance at the burial ceremony.

DAILY POST recalls that the troops of 181 Amphibious Batallion, Bomadi Local Government Area of Delta State, while on a peace mission to Okuoma Community were ambushed and killed by some irate youths.

The incident occurred when the troops responded to a distress call following a communal crisis between Okuoma and Okoloba communities in Delta State.

The personnel comprised one Lieutenant Colonel, two Majors, one Captain and 13 soldiers.

The officers are Commanding Officer 181 Amphibious Battalion, Lt. Col. A.H Ali; Maj S.D Shafa (N/13976); Maj D.E Obi (N/14395) and Capt U Zakari (N/16348).

The soldiers are SSgt Yahaya Saidu (#3NA/36/2974); Cpl Yahaya Danbaba (1ONA/65/7274); Cpl Kabiru Bashir (11NA/66/9853); LCpl Bulus Haruna (16NA/TS/5844); LCpl Sola Opeyemi (17NA/760719); and LCpl Bello Anas (17NA/76/290).

They also include LCpl Hamman Peter (NA/T82653); LCpl Ibrahim Abdullahi (18NA/77/1191); Pte Alhaji Isah (17NA/76/6079); Pte Clement Francis (19NA/78/0911); Pte Abubakar Ali (19NA/78/2162); Pte Ibrahim Adamu (19NA/78/6079) and Pte Adamu Ibrahim (21NA/80/4795).

DailyPost

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Thomas Yormah Emerges As New WAEC Chairman

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By Eric Elezuo

The West Africa Examinations Council (WAEC) has a new Chairman, he is Prof. Thomas Brima Rick Yormah, a former Deputy Vice Chancellor of the Fourah Bay College and former Pro ViceChancellor, University of Sierra Leone as the 21st Chairman of Council.

According to a statement signed by Demianus G. Ojijeogu, the Head, Public Affairs, WAEC Headquarters, Accra, Ghana, Yormah was elected during the just concluded 72nd Annual Council Meeting of the body, held in Freetown, Sierra Leone. He succeeds Prof. Ato Essuman from the Republic of Ghana.

The highpoint of the week-long Council meeting was the recognition and honoring of three Ghanaian candidates with the WAEC International Excellence Award for their outstanding performance in the WASSCE for School Candidates, 2023. They were Master Amo-Kodieh Leonard Kofi, (1st Prize), Master Dzandu Selorm, (2nd Prize), and Master Asenso-Gyambibi Daniel (3rd Prize). The three candidates were selected from 2,327,342 who sat the examination in The Gambia, Ghana, Liberia, Nigeria, and Sierra Leone.

In the same vein, the Augustus Bandele Oyediran Award for the Best Candidate in West Africa, 2023 also went to Master Amo-Kodieh Leonard Kofi. In addition, two candidates from the Republic of Sierra Leone were honoured with the National Distinction, while one candidate received the National Merit Award. They were Miss. Mammah E. A. Raymonda, (1st Prize), Master Bangura Joshua, (2nd Prize), and Master Fillie Sahr Edward (Merit Award).

While the 71st edition of the Council meeting was hosted by Gambia, the next edition, which will be the 73rd in the series, will be hosted by Liberia.

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Kidnapped Edo PDP Chairman Regains Freedom

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The kidnapped chairman of the Peoples Democratic Party (PDP) in Edo State, Dr. Tony Aziegbemi, has been released.

Dr. Aziegbemi, who was set free by his abductors in the early hours of Tuesday, March 26, 2024. Report has it that he got to his Benin City residence at about 3am to the waiting arms of family and close friends.

“I am back home with my family. I am fine. I am just trying to rest and will talk to you later,” he was quoted as saying.

Dr. Aziegbemi, a former member of the House of Representatives, who represented Esan North-East/Esan South-East federal constituency of Edo State, was kidnapped on Friday, March 15, 2024 when his abductors who rode in two Toyota Corolla cars, trailed him after he left a meeting.

The gunmen overtook Aziegbemi’s sports utility vehicle (SUV) at a speed break as it slowed down along Osaro Street, off Country Home Road, close to his house at about 11pm on Friday night before seizing him.

It is not clear yet if a ransom was paid for his release as the abductors had reportedly demanded a sum of N50 million before setting him free.

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