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Albania: Communism, capitalism, chaos

We Are History

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The Pyramid Schemes of Albania

It's estimated that two thirds of the Albanians have put their money into these schemes. Many have sold their homes in order to invest. By January 1997, it became clear that the companies could no longer keep up their payments. And one after the other, these companies all went bankrupt. Due to these mass pyramid schemes, they've lost a total of $1.2 billion.

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