Romanian broker Cristian Sima, the former head of the Sibiu Stock Exchange, who left the country at the beginning of October and who is now at the heart of a media scandal over losing clients money, said in an interview for local media that the biggest loss in his portfolio is EUR 1.4 million for a client. The broker, who initially went missing but who contacted some of the Romanian media afterwards, said he plans to reimburse everything he lost for his clients.
“Many clients do not file complaints because they trust I will come back and we will reach an understanding, rather than filing a complaint in the British Virgin Islands (where his brokerage firm is registered, e.n),” said Sima in a telephone interview for Realitatea TV.
This is the third time Sima has lost it all, as he said, the first time he lost EUR 1 million, the second time, EUR 2.8 million, but he managed to earn the money back and repay his dues. His total loss this time is EUR 2 million and USD 2 million, he said. He also added that he has contracts with his clients whose money he lost that would cover his back.
Sima said he is currently in Reykjavik in Iceland, and he left out of fear, after having been threatened to give up all of his assets. The broker did not say who threatened him and why, but said threats are politically linked and also have to do with his competitors.
After going missing for several days, and after the media started writing about his disappearance, Cristian Sima started writing letters to some of the local media and became active on TV shows, giving information about his situation.