The operation run by this firm in Cyprus was via their office in Belgium. That had its licenced annulled and thus the Cyprus operation closed.
Some of the unqualified staff moved to India, UAE and other unregulated jurisdictions. Others stayed in Cyprus moving into other salesman roles, using the sales tactics learnt during their week long Malta training course. Normal story, high front loaded commissions with the promise of great returns.
Fleece the consumer - who cares about them! After the operation was unlicensed they still brought over the next boat load of cowboys, one of whom was a used car salesman a month before.