Nation/World


Albania Accepts Part Of Blame For Scams

WEDNESDAY, JAN. 29, 1997

Albania’s government accepted some “moral responsibility” Tuesday for losses suffered by thousands of investors in failing pyramid schemes and pledged to get some of their money back.

But Tritan Shehu, deputy premier and foreign minister, denied any government involvement in the get-rich-quick schemes, whose collapse has prompted days of rioting.

Shehu, who was beaten badly over the weekend by an angry crowd in Lushnja, said the International Monetary Fund warned of the schemes’ possible collapse two months ago.


 
Tags: fraud

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