Romanian broker reportedly disappears with customers money.

By bne IntelliNews October 12, 2012
Romanian broker Cristian Sima, who has been operating two WBS brokerage firms in the country, has reportedly disappeared with his customers money, according to a report in daily Ziarul Financiar that confirms rumours, which have been circulating from early this week. The value of the losses cannot be estimated yet since Simas customers mainly high profile businessmen and showmen, have avoided disclosing their accounts with WBSs two firms - WBS Holding and WBS Romania. The Romanian securities commission, CNVM, has started investigations on WBS Romania, which is licensed to trade on both the Sibiu and the Bucharest stock exchanges. Yet, most of the money is reportedly transferred to WBS Holding registered in the British Virgin Islands. Sima was CEO of Romanian derivative market Sibex at Sibiu until last week. Apart from the Sibiu derivative market, he was also operating on foreign markets.
Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

Romania to spend EUR 37mn in 2013 to close down loss-making coal mines.

Romania's government has earmarked RON 163mn (EUR 37mn) worth of subsidies for 2013 under a programme aimed at closing down the loss-making mines of local company CNH located in the southwestern ... more

Romanias Hidroelectrica sells nearly 0.3TWh of electricity on free market.

Romanian state-controlled hydropower company Hidroelectrica sold on Thursday, March 21, in several separate contracts a total of 0.3TWh of baseload electricity deliverable between April 1 and the ... more

Romania to start privatisation of cargo railway company on April 6-8.

The Romanian government will publish the privatisation call for freight railway company CFR Marfa immediately after the consultants complete their work, probably on April 6-8, Romanian transport ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    4 days ago
  2. Saudi Arabia to scale back plans for Neom city
    8 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    4 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    18 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    23 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    27 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    21 days ago

Reports

Dismiss