Saturday, October 15, 2011

The Great Albanian Pyramid Scheme VII

We have seen the enormous toll the pyramid schemes took on the Albanian populace.  From a population of approximately 3 million, billions of dollars were lost.

     One important feature of these pyramid schemes was that they were quasi sanctioned by the Albanian government.  This was due to corruption in the newly-democratic Albania.  Many of the leaders used these schemes not only to enrich themselves, but also to find ways to take money out of the country quickly.

     Remember, at the heart of pyramid and ponzi schemes are criminal acts.   The people who perpetuate these schemes are perpetuating a fraud, pure and simple.

    In the case of a national pyramid scheme such as the Albanian schemes, these schemes were also fronts for drug running and gun running.  Criminal organizations, as stated often with the tacit or unwilling support of the Albanian government, were able to raise enormous amounts of money which were used to fund other illegal operations.

    As always, have a great and fraud free day.

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