MMM India is a Ponzi scheme operated by Russian businessman Sergei Mavrodi that promises to double participants' money. It works by having new members deposit money into existing members' accounts in exchange for virtual currency, but the funds are permanently locked up and difficult to withdraw as real money. MMM India operates only online to avoid legal regulations as a money circulation scheme that will inevitably collapse as more money is needed to pay returning investors.

1. MMM INDIA-DOUBLE YOUR MONEY
A Russian with history of duping several gullible people in Russia and
the US is spreading his “mutual mutual aid fund” idea called, MMM
India. This is nothing but a pure money circulation scheme.
Mavrodi Mondial Moneybox India or MMM India, a multi-level
marketing (MLM) or a Ponzi (pure money circulation) scheme set up by
Sergei Panteleevich Mavrodi, a Russian businessman and financier, is
spreading its wing in India, especially in rural areas. According to
Wikipedia, in 2007 Sergei Mavrodi was found guilty in a Russian court
of defrauding 10,000 investors out of 110 million roubles or about $4.3
million. But more about Mavrodi and his businesses later.
MMM India, the Ponzi scheme says it is neither a company nor a
business but a mutual mutual aid fund. In simple words, it takes
Rs5,000 from you, gives you 100 units of some virtual currency called
Mavro. When you bring two more people, you would receive 20
Mavros in your e-wallet. The new member also deposits Rs5,000 in the
old member's account, thus your ‘investment’ is repaid. Virtually,
because the cash is converted into Mavros in your e-wallet and then
there are ‘minor’ terms and conditions, which makes it difficult to get
your real money back.
The MMM scheme mandates all members to keep at least 100 Mavros
in their account. That means your Rs5,000 are locked permanently in
air. This is because MMM is neither a company nor a business as it
operates only through the internet. This helps the double your money
scheme to avoid all kind of legal permissions and regulations. MMM

2. likes to call itself an international, free, self-adjusting community or
social virus. Unfortunately, it is nothing but a money-gobbling virus.