It would be recalled that Mavrodi died on March 26, after a heart attack.
The administrators of the site had in a statement issued on April 6, 2018 reminded participants of an earlier warning on the risk associated with the scheme.
The statement reads: “Dear participants, after much deliberation, we have made the conclusion that continuing the System operation, without our leader and ideological inspirer, is impossible and makes no sense.
“We all carried out the tasks he assigned to us, since we had no doubt in his genius and rightness of the path he had chosen.
“We are firmly aware of the fact that none of us has a full view of his conception’s profoundness and sequence of all the actions to achieve a final goal, declared in the “MMM’s Ideology”.
“Sergey Mavrodi’s broadmindedness scale is unprecedented. Therefore any attempts to continue the System operation without him are bound to fail.
“We respect him immeasurably and cannot afford to allow that our unskilled actions may cause profanation of his concepts.
“In view of the above, with deep sadness, we have to announce the ultimate and irreversible MMM closure.
“We also remind (as a matter of form) that all initially were fully aware of the risks and read the WARNING and confirmed that by checking the relevant box when registering.
“Hoping for your understanding, Administration,” the statement reads.
The News Agency of Nigeria (NAN) reports that the scheme had survived several pause mode and closure but could not escape the latest turn of event due to the death of Mavrodi in Russia.