Socialists: Quaestor victims to turn to intl community for help

Small investors that suffered heavy losses through the 2015 bankruptcy of the Quaestor brokerage firm will appeal to the international community for help in getting proper compensation, László Szakács, deputy leader of the Socialist Party, told a press conference in front of Parliament on Thursday.

Szakács said the state had compensated small investors up to 25 percent of their losses, but “deprived them of the right” to seek further compensation. He insisted that the complainants have not been given any opportunity to lay further claims against the liquidators of the bankrupt broker.

Quaestor caused financial harm to 32,000 investors and a total 220 billion forints (EUR 676m) “disappeared” on their watch, he insisted.

The victims should have the right to initiate proceedings against the liquidator “if they have been fraudulent”, Szakács said.

István Kálmán-Pikó, who represents the complainants, said that they would approach all members of the European Parliament, as well as EU and NATO ambassadors to Hungary “to reveal details of the Quaestor case”, which they said is briefly mentioned in the recent European Parliamentary Sargentini Report on the state of the rule of law in Hungary.

“Quaestor’s funds have disappeared and have long landed with firms close to the government. Compensation has gone to ministries, municipalities and to all those on the VIP list, but 32,000 small investors have received nothing,”

Kálmán-Pikó insisted.

Photo: MTI

Source: MTI