Pirate stock exchange helps fund hijackings, Financial Post

Posted by Bio ↓ on Dec 2nd, 2009 Comments ↓

HARADHEERE, Somalia — In Somalia’s main pirate lair of Haradheere, the sea gangs have set up a cooperative to fund their hijackings offshore, a sort of stock exchange meets criminal syndicate.

Heavily armed pirates from the lawless Horn of Africa nation have terrorized shipping lanes in the Indian Ocean and strategic Gulf of Aden, which links Europe to Asia through the Red Sea.

The gangs have made tens of millions of dollars from ransoms and a deployment by foreign navies in the area has only appeared to drive the attackers to hunt further from shore.

It is a lucrative business that has drawn financiers from the Somali diaspora and other nations — and now the gangs in Haradheere have set up an exchange to manage their investments.

via Pirate stock exchange helps fund hijackings.

About

Jacob Laksin is managing editor of Frontpage Magazine. He is co-author, with David Horowitz, of One-Party Classroom: How Radical Professors at America's Top Colleges Indoctrinate Students and Undermine Our Democracy. His work has appeared in the Wall Street Journal, the Philadelphia Inquirer, The Weekly Standard, City Journal, Policy Review, as well as other publications. Email him at jlaksin@gmail.com.

5 Responses for “Pirate stock exchange helps fund hijackings, Financial Post”

  1. flory4sq says:

    Heavily armed pirates from the lawless Horn of Africa nation have terrorized shipping lanes in the Indian Ocean and strategic Gulf of Aden, which links Europe to Asia through the Red Sea.
    ……………………………………………………………………………………………..
    @flory
    Invest in Stock

  2. farneel4sq says:

    Heavily armed pirates from the lawless Horn of Africa nation have terrorized shipping lanes in the Indian Ocean and strategic Gulf of Aden, which links Europe to Asia through the Red Sea.
    _______________________________________________________________________
    hi
    farneel
    Invest in Stock

  3. Enter text right here!

    I appreciate the concern which is been rose. The things need to be sorted out because it is about the individual but it can be with everyone.
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  4. howard grant says:

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