MNB: Kun-Mediator losses valued at several billion forints
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).
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.