09/01/1997
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Republika

9 January 1997

A new storm over the pyramid schemes. Arrests at the bankrupt firms

The police are also monitoring the water Sude drinks. One of her three houses has been put up for sale . A new storm over the pyramid schemes. Arrests at the bankrupt firms. The “Gjalllica” company splits in two. Kërxhalli, owner of the pyramid scheme. Real estate worth 100 million dollars. Liability for the pyramid schemes: 16 million dollars owed to 14 thousand clients. Another lending firm goes bankrupt. It had been operating for 6 years. Clients from Sh-kodra, Tirana, Përmeti, Berati, Skrapari have lost up to 120 thousand dollars. The arrest of 30 “Grunasi” cashiers is expected. Pages 4–5

The companies split apart

There is also a reason why the companies should cooperate Albanian companies deserve undisputed credit for the recovery of the devastated economy. Although they are so few in number (some of them also mysterious in how they emerged on the scene), until yesterday they seemed to get along well with one another. In fact, they gave very public signals of cooperation. It was the VEFA company and its president who called for “finding common ground,” even if only to lower the rates, but apart from Kamberi, the others acted as if they had not heard the call to cooperate. Someone, perhaps because they had no time, with their head already spinning from major troubles; someone else for unclear reasons. It was Vebi Alimuçaj who declared that he had found no support from the others. In fact, he gave them ample time to think it over and consult. His decision to lower the rates remained without the expected support. Indeed, Alimuçaj was astonished by the companies’ hesitation, and not only that: one company is making backroom maneuvers to collect money through pyramid schemes, offering fantastical rates of up to 20%. And he is right to draw the logical conclusion that such a rising curve is deadly. The limited experience in Albania has shown that excessive appetite leads to ruin. Raising rates in this psychologically bad, charged situation does not mean rapid growth; on the contrary, it means a rapid downfall. Meanwhile, the press has also seen VEFA attacked by other companies. Even at the opening event organized by Gjallica on Christmas Day, there were, indirectly, meetings too. Continued on p. 4

Steals from pensioners, ends up in a mental institution

Women abandon Tirana Maternity Hospital A judge breaks the 1920 record F2

Metathirrëtnëraport before the Presidium

The Hellenic land breeds incidents P. 3 Coming soon: FANS-CLUB Rit-folk P. 7

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