Maltese investors lose everything in Russian bond
A number of Maltese who invested in a Russian bond lost everything after Russian bank Mezhprombank went bankrupt.
20 May 2012, 12:00am
Karl Stagno-Navarra
Karl Stagno-Navarra
Bank owner Sergei Pugachyov
Sunday newspaper Illum reports that some 450 Maltese who invested around €20 million in bonds of Russian bank Mezhprombank, lost everything after the bank went bankrupt.
The investors did not even receive any return on their investment. The default global value, Illum reports, is estimated to have reached over €300 million.
Read the full article in Illum
