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Pyramid schemes in Albania
Pyramid schemes in Albania were Ponzi schemes that precipitated the 1997 unrest in Albania. They started operations in 1991 with the first being formed by Hajdin Sejdia,〔http://www.independent.co.uk/news/world/albanian-financiers-fail-to-play-the-game-1277155.html〕 former economic advisor of Prime Minister Fatos Nano.
After starting works for the construction of an alleged hotel in central Tirana, he escaped to Switzerland with several million dollars. The area became known as Hajdin Sejdia's Hole. Later it was filled back by crews to create a local park, but since then quickly turned into an area used by the local prostitution scene. Following the events, some creditors were liquidated while others not. It is alleged that most of the sums are still held in foreign banks.
==Pyramid schemes of 1997==
The year 1997 came as a tragic consequence of the bankruptcy of some 25 firms, the face value of the schemes' liabilities totaled $1.2 billion.〔http://www.imf.org/external/pubs/ft/fandd/2000/03/jarvis.htm〕
抄文引用元・出典: フリー百科事典『 ウィキペディア（Wikipedia）』
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