Ostend Mayor in Investment Scandal

Ostend's acting mayor, Kurt Clays, is currently under investigation for allegedly proposing risky foreign investments using public funds, with promises of high returns to members of his political party. Reports indicate that Clays has been discussing these investment opportunities with party members, suggesting they invest their organization’s reserves in international ventures. Witnesses claim that during a meeting at Clays' residence, he unexpectedly approached one individual about investing their organization’s funds. The proposed investments reportedly involve ships and were facilitated by a middleman in Germany, who claimed he could significantly increase the investment within a year. One anonymous witness recounted that Clays suggested investing subsidies into a foreign construction project, although ultimately, no investments were made. The situation raises questions about the legitimacy of Clays' proposals, with concerns about potential fraud. Additionally, it has been reported that a document related to an investment with the company FCC was shown during discussions by local aldermen. This document outlined expected growth from the investment and offered consultations in Germany or Switzerland, aligning with witness accounts. The prosecutor’s office is now tasked with determining whether any criminal activities occurred, particularly regarding whether actual investments were made following discussions with local officials. In the meantime, the financial watchdog FSMA has confirmed that the ship involved is not registered to sell financial products and has issued warnings against investments that feature unclear structures or promise high returns from unapproved sources.