CRISIS IN COUNTRIES WITH UNDERDEVELOPED FINANCIAL MARKETS ON THE EXAMPLE OF RUSSIAN AND ALBANIAN AFFAIRS WITH INVESTMENT FUNDS IN THE FORM OF PYRAMIDS

• Authors: Antkiewicz Slawomir
• Languages of publication: EN

Abstracts

EN

(Polish title: Kryzys w krajach o slabo rozwinietych rynkach finansowych na przykladzie rosyjskich i albańskich afer z funduszami inwestycyjnymi w formie piramid). The purpose of this article is to present the most dangerous types of investment funds - pyramid schemes - in two countries: Russia and Albania. The collapse of the pyramid shook the economies of these countries and caused unrest in society. The Author presents economic conditions, genesis of these funds in the form of pyramids, reasons for undetected criminal activity and consequences of the collapse of pyramid schemes. It has been proven that often highly valued people and major companies, that are enjoying the confidence of citizens, use their position and the naiveness of small investors in order to achieve material benefits. It is almost certain that in the future, there will be new financial pyramids, and investors deceived upon significant amounts. We can only hope that national surveillance systems will detect criminal dealings in time, and shall prohibit the distribution of investment funds in the form of pyramid schemes.

Keywords

EN

EMBEZZLEMENT; FINANCIAL CRISIS; FRAUD; INVESTMENT FUND; PYRAMID SCHEME

Discipline

• ECONOMICS: ECONOMICS

• Publisher: Spółdzielczy Instytut Naukowy G. Bierecki sp.j.
• Journal: Pieniądze i Więź
• Year: 2010
• Volume: 13
• Issue: 4(49)
• Pages: 163-170
• Document type: ARTICLE

Contributors

author

Antkiewicz Slawomir

• Slawomir Antkiewicz, Wyzsza Szkola Bankowa w Gdansku, Katedra Finansow Przedsiebiorstw, ul. Dolna Brama 8, 80-821 Gdansk, Poland

Identifiers

CEJSH db identifier

10PLAAAA089225