Fourteen investors this morning filed a judicial protest against the directors of Maltese Cross Financial Services Ltd, demanding a return of their capital, with interest.
The firm is currently being investigated by the MFSA and its operations have been suspended.
The protest was filed against directors Jean-Claude Bugeja, Robert Cutajar and Stephen Spiteri.
The investors said they had been informed by the MFSA that the operations of the company had been suspended but they had heard nothing else since, despite trying to withdraw their investments - which amounted to €1.3 million.
In their protest they requested a return of their money, interest and a detailed account of the investment made with their money.
Adrian Delia and Kris Scicluna signed the protest.
The Sunday Times of Malta reported over the weekend that the police are investigating the disappearance of possibly millions of euros invested with Maltese Cross Financial Services.
The Malta Financial Services Authority is working with the police authorities to investigate the “material shortfall” in clients’ assets.
The authority said that the shortfall “appeared to have arisen from the possible misuse and manipulation of the assets” and that the investments “which belonged to clients but which were held by the company, may have been lost”.