During 1996-97, Albania was convulsed by the dramatic rise and collapse of several huge financial pyramid schemes. This article discusses the crisis and the steps other countries can take to prevent ...

Abstract: What lessons can be drawn from the unprecedented growth and spectacular collapse of financial pyramid schemes in Albania? This paper discusses the origins of the pyramid schemes and the way ...

The idea is that once you're operating in the highest tier with your money, you're set up to be a financial success ... it will continue on through the pyramid's last stages.

In contrast to other legitimate financial ventures, pyramid schemes have vague explanations about how the investment group operates. These can range from simple to extremely complicated ...