He estimated the total losses to clients at Ft 115 billion.

Ibolya said six of the original eleven suspects have not been charged, due to lack of evidence.

The essence of the indictment is that the five defendants – all owners of the brokerage – had been operating a criminal organisation since 2007 in which they treated their clients investments as their own money.

Source: Hungary Around the Clock

This news item is one of many published daily by HATC, a premier subscription news service which distributes English-language info about Hungary via email or fax. For a free trial of HATC visit www.hatc.hu and click on 'Free Trial Subscription’.