The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and...
36
Transcript of The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and...
![Page 1: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/1.jpg)
![Page 2: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/2.jpg)
![Page 3: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/3.jpg)
![Page 4: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/4.jpg)
![Page 5: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/5.jpg)
![Page 6: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/6.jpg)
![Page 7: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/7.jpg)
![Page 8: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/8.jpg)
![Page 9: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/9.jpg)
![Page 10: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/10.jpg)
![Page 11: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/11.jpg)
![Page 12: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/12.jpg)
![Page 13: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/13.jpg)
![Page 14: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/14.jpg)
![Page 15: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/15.jpg)
![Page 16: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/16.jpg)
![Page 17: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/17.jpg)
![Page 18: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/18.jpg)
![Page 19: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/19.jpg)
![Page 20: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/20.jpg)
![Page 21: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/21.jpg)
![Page 22: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/22.jpg)
![Page 23: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/23.jpg)
![Page 24: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/24.jpg)
![Page 25: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/25.jpg)
![Page 26: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/26.jpg)
![Page 27: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/27.jpg)
![Page 28: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/28.jpg)
![Page 29: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/29.jpg)
![Page 30: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/30.jpg)
![Page 31: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/31.jpg)
![Page 32: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/32.jpg)
![Page 33: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/33.jpg)
![Page 34: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/34.jpg)
![Page 35: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/35.jpg)
![Page 36: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 · 1999. 8. 13. · Title: The Rise and Fall of Pyramid Schemes in Albania - WP/99/98 Created Date: 8/12/1999 10:25:02 PM](https://reader035.fdocuments.net/reader035/viewer/2022081615/5fdfe32698230e59fa4cd7d4/html5/thumbnails/36.jpg)