Explore the gallery of pyramid ads

Between 1993-1997, pyramid firms advertised their business activities in local newspaper, in TV, and in cultural events. The firms represented themselves as the trailblazers of emerging capitalist entrepreneurship.

Gendered Representations and Financial Speculation 

When they began to collapse, the firms were represented as fraudulent magicians. The figure of Maksude Kadena, the only woman owner of a pyramid firm, became a local and international icon of fraudulent speculative finance.

Legal Technologies

Some of the firms issued credit contracts to investors, signed in the presence of a notary public.

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