TIRANA: The Albanian government has appointed the Ansdell Group to
advise on media and investor relations as it attempts to dismantle the
pyramid investment schemes which led to civil unrest in the country last
David Masters, a political adviser at Ansdell Consulting, the group’s
strategic communications firm, has left for the Albanian capital of
Tirana, where he will work for at least the next six months.
Masters, a former journalist and now a political adviser, will work with
the Government and its advisers, as a spokesman for local and
’Most Albanians having invested - and lost - in the pyramid schemes, our
job is to help them understand what happened to their funds and how to
avoid this kind of catastrophe in the future,’ said Ansdell Consulting
managing director Fred Harrison.
Pyramid-style investment funds sprouted throughout Eastern and Central
Europe after the fall of communism. They were specially prominent in
When Albania’s pyramid schemes began to collapse last year, the country
descended into anarchy. Around 17 schemes remain, and are being
administered by accountants Deloitte and Touche and Coopers and
The accountants are looking to sell assets such as factories owned by
the pyramid funds, to help pay off investors. Where funds have no
assets, investors must be paid what money is left.
Harrison said: ’We will help maximise the sale value of assets and at
the same time manage investors expectations on the returns from these