Remaining assets of pyramid schemes for sale

TIRANA, Sept. 19 – Majority MPs of the parliamentary economy committee approved this week some legal changes paving the way to the sale of the remaining 10 percent of assets seized from the notorious 1997 pyramid schemes. The changes allow the publication of the assets’ value before the auction takes place in an effort to revive investors’ interest.
Since two years, investors had expressed no interest to participate in auctions for the sale of the remaining 27 assets seized from the Ponzi schemes.
Albanians lost an estimated USD 1.2 billion from the pyramid schemes which collapsed in 1997, putting the country in severe turmoil.
Opposition Socialist Party MPs opposed the new changes saying that government’s intention was to abuse the remaining assets.