Banks, Financial Services, Lithuania

International Internet Magazine. Baltic States news & analytics Friday, 07.08.2020, 03:59

Bank of Lithuania warns against investing in Paysera securities

BC, Vilnius, 07.05.2019.Print version
The Bank of Lithuania issued a warning to investors regarding misleading information provided about Paysera securities.

‘Publicly available information shows that securities are issued by Paysera LT, UAB to which the Bank of Lithuania granted an electronic money institution licence, however, the real issuer of these securities is Paysera Investment, UAB, a company that is not supervised by the Bank of Lithuania. 

This information can be potentially misleading for investors,’ said Audrius Šilgalis, Head of the Investment Services Supervision Division. The Bank of Lithuania found that DESICO platform, managed by UAB Finansų bitė verslui, which is a crowdfunding platform operator, in its website proposes to invest in development of Paysera’s business activities and indicates that Paysera is an electronic money institution operating since 2004. Information related to Paysera LT, UAB (financial statements, history of activities, information on managers, etc.) is also provided, creating a false impression that the project is owned by Paysera LT, UAB. 

The website of Paysera LT, UAB also provides misleading information on the Paysera project, leading investors to believe that they would acquire securities issued by Paysera LT, UAB and not Paysera Investment, UAB

The Bank of Lithuania urges investors to analyse all information provided and assess all investment-related risks before taking a decision on investing in securities.

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