Lithuanians lose money while investing via Cyprus' Royal Forex LTD

  • 2020-02-26
  • BNS/TBT Staff
VILNIUS – Over 100 Lithuanian residents have lost hundreds of thousands of euros while investing via Cyprus company Royal Forex LTD and its investment platforms GMO trading, but the central Bank of Lithuania admits chances of recovering the money are slim, the public broadcaster LRT's investigation division reports. Royal Forex LTD is registered in Cyprus and operates under a license issued in this country, meaning that the Bank of Lithuania cannot restrict activity of the Cyprus-based main company or its subsidiary in Lithuania, in response to residents' co...
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