Crystal Finance Investments said this morning that it had itself told clients to consult the Malta Financial Services Authority about their rights and it continues to cooperate with the authorities as is it duty both ethically and legally.

The financial services company was commenting on reports in In-Nazzjon that a number of clients who invested through the company had lost their savings, and had complained to the MFSA. It said the losses ran up to millions of euro.

In a reaction, the company said it condemned sensationalist reporting.

It defended its record but pointed out that it was inevitable in investments that from time to time certain products did not perform up to expectations.

"However this effects a small part of the investment portfolio of clients. Diversification is the rule to mitigate such an effect, however the more one diversifies the higher the risk one runs of having an investment which under-performs."

It said it always dealt professionally with clients who had suffered any loss, and it kept them informed first hand in their best interest to safeguard their investment.