OREANDA-NEWS. February 08, 2011. The Federal Antimonopoly Service (FAS Russia) forwarded the conclusion of the FAS Russia’s Expert Council for Developing Competition in Financial Markets (Securities Section), that the “MMM-2011” scheme is a financial pyramid regardless of the method of placing monetary resources, to the Ministry of Internal Affairs, reported the press-centre of FAS Russia. 

FAS Russia also forwarded to the Ministry of Internal Affairs its analytical findings that a financial pyramid is involved in the scheme and a mathematical analysis of the “MMM-2011” model completed by the “National Agency for Financial Studies” CJSC.

The open session of the FAS Russia’s Expert Council to discuss whether the “MMM-2011” scheme was a financial pyramid took place on 21st January 2011 and involved representatives of the State Duma [Legislature], the Russian Ministry of Economic Development, the Ministry of Finances and the Federal Service for Financial markets.