Founder of bankrupt FMOA investment fund targets firefighters' and law enforcers' savings

Nova Vision Investments, a financial assets management company controlled by businessman Viorel Catarama, has launched an investment fund that aims to bring returns superior to those generated by traditional savings instruments. Nova Protect Fond will have an insurance dimension as well.

Catarama is known for its SAFI Invest fund management company that developed the Mutual Fund for Businessmen (FMOA) in the 1990s, which was declared bankrupt due to the fraudulent management of its managers, Realitateafinanciara.net reported. Nobody was eventually condemned, but the investors couldn't get back their money either.

And yet, the financial markets' regulator ASF reportedly cleared in early April this new fund of Catarama - this time managed by Nova Vision Investments.

The new fund targets professionals in the Ministry of Internal Affairs and local police. The business plan envisages that the fund will have between 3,000 and 10,000 investors at launch and a gradual increase to 42,000 investors by the end of this year.

"The next milestone provided in the business plan is 60,000 investors on December 31, 2023," Viorel Catarama, who controls Nova Vision Investments, told Profit.ro.

The fund said that it aims to achieve the targets "through free-market mechanisms," as its promoters have not signed any agreement with trade unions or professional organizations.

"Such agreements with the trade unions are not justified, as potential investors must voluntarily opt for Nova Protect Fond, and the decision to invest in this complex product is a personal one," said Catarama.

(Photo source: Facebook/Viorel Catarama)