BMG investor rejects deal

Marián Kardoš, spokesman for the troubled BMG Invest and Horizont investment funds, claims that the American investor who bought them out in January has changed his mind and abandoned the deal because “he is disgusted with conditions in Slovakia”. The spokesman, a former press aide of HZDS party chairman Vladimír Mečiar, refused to give the name of the now-departed investor. BMG and Horizont remain closed as police conduct a criminal investigation at the funds, which raised a reported Sk4 billion ($80 million) in deposits from clients attracted by high interest rates.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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