Somali pirate stock-market: "we've made piracy a community activity."

By at 10:13 pm Tuesday, Dec 1

Somali nautical pirates have established a stock-market where guns and cash are invested in upcoming hijackings, with shares of the proceeds returned to investors:

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...

"Four months ago, during the monsoon rains, we decided to set up this stock exchange. We started with 15 'maritime companies' and now we are hosting 72. Ten of them have so far been successful at hijacking," Mohammed said.

"The shares are open to all and everybody can take part, whether personally at sea or on land by providing cash, weapons or useful materials ... we've made piracy a community activity."

Somali sea gangs lure investors at pirate lair (via /.)

(Image: File:MV-Faina-Pirates.jpg, Public Domain, Wikimedia Commons)

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Cory Doctorow

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