MNB: Kun-Mediator losses valued at several billion forints

Deals

Approximately 700 investors are believed to have lost several billion forints invested through Kun-Mediator, which promised interest despite having no license to operate as an investor, National Bank of Hungary (MNB) deputy governor for oversight László Windisch announced yesterday, according to state news agency MTI.

Windisch said that investors who risk placing their savings with companies not licensed by the MNB are not covered by the National Deposit Insurance Fund (OBA) or the Investor Protection Fund (Beva). 

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