How Albania became a pyramid scheme

Article by Gavin Haynes, published in UnHerd

In early 1997, a tiny, semi-literate Roma former shoe factory worker, Maksude Kadena, went to the balcony of her shabby Communist-era apartment in Tirana, the capital of Albania. Beneath her stood hundreds of people who had invested in her company, Sude, which had been offering big rewards: 5-10% returns per month. But suddenly the interest payments had dried up, investors were being prevented from retrieving their capital. And so here they were — baying for her.

In her hand, Kadena held a megaphone. Now, she put it to her lips.

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