“The General” speaks from prison: “Stay calm”
Rallies in several districts. Police intervene: “They did not have permits for the protests”
The operation to verify the foundations’ documents continues. The director of the Commercial Bank: “Xhaferri has committed fraud”
(Photo: P. Ilo)
Xhaferri at the moment of his arrest
“The money will not be paid out at 100 percent”
Last night, the distribution law
TIRANA - The money will not be received in full, at 100 percent. The law approved in Parliament last night has also clearly determined that the money will be distributed according to a coefficient calculated by dividing the amount frozen by the amount diverted, as established by the depositors’ decisions. That is, if there is a difference between the money held in the bank and the money deposited, the percentage represented by this difference will be deducted from each person during the process of returning the money. As for the order in which the money will be received, the method to be applied is that ‘which they actually have in the foundation, implemented chronologically through the savings passbooks from the date when operations begin’, the explanatory note accompanying the Government’s draft law states.
Savings passbooks have been introduced as an alternative for everyone whose money is ‘held hostage’ in the two foundations. Besides withdrawing cash, one can keep the money in bank deposits, thereby protecting it from possible inflation. But if that does not happen, to what level will the price index rise? ‘These are calculations that need to be made at the bank. The Bank of Albania,’ Finance Minister Bode’s spokesperson told Gazeta Shqiptare. Bode’s spokesperson added that this is something else that does not concern the mafia, and is useful for protecting the money, given that banks operate with interest rates higher than the rate of inflation. One advantage, albeit a small one, is that if the passbook option is accepted, the person making the withdrawal may also earn the bank interest that will be due on the foundations’ deposits.
In addition to the money frozen in banks, the total amount must also include what may be raised from the auction sale of the foundations’ movable and immovable assets. In this way, not only the compensation recipients—the assets of Drita or Haferri—but also all local managers or others who are implicated will be affected. In addition, those who are declared to have collaborated with them will also have their assets confiscated.
Another main commission, Meksi and the other ministers said, will deal with implementing this law. Also, if expenses are found to be based on a real situation, they will be announced; anyone with authentic documents has the right to appeal. Meanwhile, it is not yet clear where or at which counters the money will be returned.
All the anti-pyramid provisions
On page 3
Poli sounds the alarm: “The big companies will fall too. They are being kept afloat with the foundations’ money”
On page 2
An appeal from Rrapush Xhaferri: “Do not let politics manipulate us. Be careful with the documents...”
On page 3
Opposition rallies in Gjirokastër and Tepelenë. The right mobilizes in Tirana
On page 4
HISTORY
Poisons himself out of disappointment over the pyramid schemes
LIBRAZHD - The pyramid-scheme tragedy claims yet another victim.
A citizen from Librazhd, who was unable to get the money promised by the fraudulent foundations, drank poison and lost his life. The tragedy in this case is that the victim had put his life’s savings into the Xhaferri foundation, and the freezing of its funds drove him to do the unthinkable. Two days earlier, the victim had gone to a pharmacy and bought a box of poisonous substance. ‘I’ll get the money back in cash,’ said his father, whose family had lost all the thousands of dollars earned by his two sons working as emigrants in Greece to the pyramid scheme. When he returned home, he told his wife to go outside, and in the evening he took the fatal step toward death. He was found lying in bed, covered, a few hours later.
Lidhurj Topi, 42, from Librazhd, has added his name to the blacklist of victims of the pyramid schemes. Hoping for a better life and quick wealth, Topi, like thousands of other Albanians, had deposited all his thousands of dollars in the Xhaferri foundation. ‘After three months, their money triples’—the rosy advertisement had fired the dreams of the 42-year-old, who hurried to ‘regi-ster’ with the charitable foundation, which too had been swept up in the pyramid-scheme frenzy. But suddenly came the tragic disappointment: the foundation collapsed as a pyramid scheme, and the citizen from Librazhd, who had been unable to get even one lek of his money, mourned it, not believing even Meksi’s promise that the deposits would be returned. Some time earlier he had also lost other dollars in Korçë, where he had gone to buy a car. At the time, he had consoled himself that Xhaferri would make up for the loss, and the foundation’s assurances had restored all his hopes. Two days ago he went to an agricultural pharmacy and asked to buy some poison for the fruit trees in his garden. ‘I didn’t suspect anything. This is exactly the time when the trees are sprayed with insecticides,’ said Osman Terciu, the owner of the pharmacy. ‘He told me he would pay later, and I believed him. I even advised him to keep it away from the children because the poison was very dangerous. I didn’t suspect anything,’ says Terziu, who made the sale in accordance with the regulations. In fact, after the tragedy he was also questioned by the police.
As soon as he had the dangerous ‘weapon’ in his possession, Topi asked his wife to go and buy something and lay down in bed. In the afternoon, his wife noticed that he was having great difficulty breathing, while she got to her feet. Thus, it seems the bitter poison had taken effect, perhaps amid his despair over losing his money.
Rexhep Polisi
From the protests in the square
Police in action: 149 people detained
AFTER THE RIOTS
Police in action: 149 people detained
They face up to 15 years in prison
On page 4
Court: “We do not accept lawsuits against the pyramid schemes”
THE CHIEF JUDGE OF TIRANA SPEAKS
Court: “We do not accept lawsuits against the pyramid schemes”
“We have far too much work”
On page 5
Tirana Court
The cardinal’s final journey
YESTERDAY, KOLIQI’S FUNERAL
The cardinal’s final journey
Cardinal Koliqi
SHKODËR - Albania’s first cardinal was laid to rest yesterday. A very long procession of people and dignitaries paid tribute to Mikel Koliqi, who, through many years of suffering and hardship, kept the spirit of God’s people alive in devastated Albania.
The ceremony lasted about five hours. It began with the celebration of Mass at eight o’clock, and the Cardinal’s lifeless body was led by the cross. Accompanied by a long procession, he was laid to rest for the final time in the city of Shkodër, whose inhabitants loved him so much. Several dignitaries had come to bid farewell to the good Cardinal. Speeches were delivered by the mayor of Shkodër and President Sali Berisha. Also present were the leaders of the Catholic Church: Apostolic Nuncio Van Djal, Archbishop of Durrës and Tirana Rrok Mirdita, and Archbishop of Shkodër Frano Illia. The message of Pope John Paul II was read to those attending the procession; he expressed his grief and prayers at the loss of this devoted son.
The dollar soars, the lek sinks into the abyss
Another black day for the domestic currency yesterday
Foreign currencies are pulling further and further away. Yesterday they gained another six points
TIRANA - The money market continues to be shaken by the rapid rise of the dollar and other foreign currencies, as well as the plunge of the domestic currency in recent days. Yesterday, money changers on Tirana’s free market sold 1 USD for 126 lekë, up from its Wednesday selling price of 123 lekë. Every passing day is eroding confidence in the ‘lek’ and increasing people’s anxiety to secure their ‘wealth’ as quickly as possible by converting it into foreign currencies.
On the foreign exchange market, one dollar was exchanged for 126 lekë. The drachma is also rising rapidly
The foreign exchange market