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Stamp-ede

15 May 2006 By Fiona Maharg-Bravo

Afinsa and Forum Filatelico, two Spanish stamp dealers, have denied any wrongdoing. But the fraud allegations against them are monumental. A sniff at Afinsa’s 2004 accounts show why it may not be easy for it to honour the E1.7bn of guarantees it has written to stamp investors.

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