Losses in Eurus Safe Fund Account

Finance Minister Tonio Fenech told Parliament last week it appeared that Maltese investor’ losses in the CECA Eurus Safe Fund Account did not exceed €7 million. He was answering a question by Charles Mangion (PL), who had mentioned some €14...

Finance Minister Tonio Fenech told Parliament last week it appeared that Maltese investor’ losses in the CECA Eurus Safe Fund Account did not exceed €7 million. He was answering a question by Charles Mangion (PL), who had mentioned some €14 million.

According to information held by the Malta Financial Services Authority, the product in which the Maltese had invested was the Eurus Safe Fund Account 2009 I ApS. Minister Fenech said investigations were still ongoing both in Malta and overseas.

The minister tabled a media release by the MFSA on March 9, 2011, laying out some explanations on what was happening.

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