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Investors knock on Labour’s door over BOV property fund compensation
Government to call on BOV to compensate in full investors who lost money in bank's investment arm Valletta Fund Management.
26 May 2013, 12:00am
Matthew Vella
Matthew Vella
1 min read
Investors in Bank of Valletta's La Valette multi-manager property fund have been told that the new government will be calling for the bank to give them full compensation for the money lost in the fund by Bank of Valletta's investment arm Valletta Fund Management.
Emails seen by MaltaToday from various investors who contacted the Labour Party were told that the party would pursue the government's responsibility in compensating millions of euros that were lost in underlying funds that the La Valette Sicav had invested in.
In one email sent to Prime Minister Joseph Muscat, a La Valette investor was told that as a major shareholder of BOV, the government would be "calling for the bank to give full compensation due to its negligence, lack of skill, care and diligence."
Read full article in today's edition of MaltaToday on Sunday
Matthew Vella, a freelance journalist at MaltaToday, was formerly executive editor at Malt...
Joseph MELI •
Excuse my disingenuity in such matters but shouldn't the MFSA be "knocking on doors " to ensure the investors in this Fund debacle, and the illegalities attached to it for which the BoV was found culpable, be given full compensation .Indeed the MFSA's role and function in this sorry and sordid affair warrants a complete review and assessment,I would argue.
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Wouldn't it be better to solve some older issues like the National Bank before they address a few million euros lost last year. Almost forty years has passed and nothing has been addressed. Looks like these investors are going to wait another 40 years....
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this is just one of many scams of BOV and should be investigated for all its scams dont just this one.
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this is just one of many scams of BOV and should be investigated for all its scams dont just this one.
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Hemm bzonn li issir gustizzja ma dawn l investituri. li ingidmu minhabba l hard selling tatics li kien introduca l management fuq il haddiema. Biss hemm bzonn inkjesta, u mhux min kien responsabbli ghal din il froga, il lum ghandu kariga gholja fil bank. Fil BOV saru hafan ingustizzji anki ma haddiema ta tendenzi laburisti, u anki ma dawn ghandha issir gustizzja.
