77-year-old files Judicial Protest
A 77-year-old has filed a judicial protest demanding damages for her lost investment against Bank of Valletta, the Malta Financial Services Authority and the Attorney General.
Her lawyer, Robert Piscopo, claimed that his client, Eufrasia Galea lived on a widow’s pension. She had received basic education and had no training or knowledge of the financial sector.
she sold a property in 2007 for Lm30,000. She proceeded to head over to deposit the money in BOV in a savings account, however was pressured by bank employees to invest in Vilhena Funds Sicav. Two deposits into the fund by het. The first of almost €40,000, the second of €25,000.
The woman is alleging that the bank mis-sold her this product and is requesting compensation.