Operator of failed Albanian pyramid scheme arrested in Uruguay

TIRANA, Sep 24 – Bashkim Driza, who was convicted in absentia of running one of the failed pyramid investment schemes that sparked widespread rioting 11 years ago, was arrested in Uruguay, police reported Wednesday.
Police said they were told by their Uruguayan counterparts that Bashkim Driza, 50, was under house arrest and they were expecting the Justice Ministry to start the extradition process.
In 2002 Driza was convicted to 16 years imprisonment in absentia of swindling 870 million leks (US$5.6 million in 1997) from some 300,000 creditors in one of 24 pyramid schemes that collapsed in 1997.
Many Albanians lost their life savings and the impoverished Balkan country was plunged into chaos.
A temporary administration was set up with the help of the international community after a NATO-led force was sent to Albania to help restore order.
In all, 1.68 million investors lost a total of US$1.26 billion when the schemes collapsed.
Several other managers of failed pyramid schemes have been imprisoned and many others fled Albania.
Few of the missing funds have been paid back to private investors.