The recent bankruptcy of a savings fund and the disappearance of around €16 million has once again raised the issue of the need to impose stricter control over the activities of such cooperatives, politicians from three parties told ETV news show 'Aktuaalne kaamera' (AK) Tuesday.
The Estonia Development Savings and Loan Association has filed for bankruptcy, with 1,000 customers poised to lose their investments. Some €16 million has vanished from the association. Customers include former Foreign Minister Urmas Paet who invested €50,000, weekly Eesti Ekspress reports.