Trusting citizens lose their deposits

Thousands of trusting citizens have deposited more than Sk100 million (€2.38 million) with an unlicensed deposit company JP Seven El. The boss of the failed company Jozef Pavlik is already in custody.

Police investigator Stanislav Ryban could not tell whether the fooled clients have any chance to get back at least part of their money. The investigator has questioned more than 4000 plaintiffs while the case is still far from being completed.

The firm signed agreements for providing loans from January 1999 to September 2000 after paying a 10-percent advance payment, however, only very few clients received the loan. They were mostly people close to firm owners.

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

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