Two-thirds of which country fell for pyramid schemes that brought the nation to financial ruin in the late '90s?
Answer Albania
Albania saw a Ponzi scheme of epic proportions take down their entire country in 1997. Following a dictatorship, the country attempted to transition into a market economy, but that transition didn't go so well. Pyramid schemes overran the young financial system, and two-thirds of the country's citizens were lured in. Around $1.2 billion was collectively lost, leading to a revolution, as some believed the government was corruptly profiting off the scheme. 2,000 died in the protests, and the government was eventually toppled.
Last updated 5 years ago · 2.3K views · SOURCE