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. Last Updated: 07/27/2016

Mavrodi Jailed for 5 Days

MMM pyramid scheme founder Sergei Mavrodi spent 4 1/2 years in prison for stealing millions of dollars in the 1990s. On Wednesday, a court ordered him back to jail for five days after he failed to pay a 1,000 ruble ($33) fine because, he said, he’s broke.

Mavrodi, who started another scheme called MMM-2011 two years ago, failed to pay the 1,000 ruble fine for an administrative offense, a Moscow court spokeswoman told Interfax. She did not specify the offense but said 10 identical charges had been brought against Mavrodi.

A police official told Lifenews.ru that Mavrodi admitted his guilt in the case and said he could not pay the fine because he is in major debt.