11th December 2020
An Italian national suspected of planning to launder “billions” for mafia associates is being investigated by the Financial Crimes Investigation Department, a police spokesman confirmed. Roberto Recordare is the owner of two companies in Malta – Golem Malta Limited and Recordare Holding. The two companies are ostensibly in the software… Read More
10th December 2020
The Dutch MP Pieter Omtzigt, rapporteur for the Council of Europe’s resolution on Daphne Caruana Galizia’s assassination and the rule of law in Malta, has decreed that Malta has failed to implement the demands of the Council’s parliamentary assembly. Omtzigt is charged with following-up on the progress of the… Read More
7th December 2020
A politically-exposed Russian with alleged ties to the mafia has been flagged by the FIAU after using a membership-only credit card service company which former Economy Minister Chris Cardona joined after leaving politics. Malta’s Financial Intelligence Analysis Unit this week announced that Insignia, a ‘luxury lifestyle management group’ has been… Read More
7th December 2020
Police are edging closer to prosecutions following lengthy investigations into money-laundering allegations at the now defunct Pilatus Bank. Delays in the probe meant the initial target of arraigning several bank officials by the end of August was pushed back by several months. Investigators are now combing over documents detailing suspicious… Read More
26th November 2020
Just when she thought the persecution was over, Maria Efimova, the whistleblower who helped expose the corrupt ties between organised crime and Malta’s political establishment, found that the nightmare was back. On Monday 17 November, Pantelis Varnava, Efimova’s husband, was put under arrest in Crete following a request from Cyprus’… Read More
25th November 2020
Corporate services provider Credence, which featured in an extensive European Investigation Collaborations exposé on tax avoidance in Malta, has been fined €261,000 by the Financial Investigation Analysis Unit for breaches of various money laundering obligations. Credence Corporate Advisory Services is a Maltese law firm which featured in stories on the… Read More
25th November 2020
Former footballers Darren Debono and Jeffrey Chetcuti have spent the night in prison after police carried out a nationwide anti-smuggling sting operation. Law enforcement sources confirmed that a number of raids were carried out between Monday and the early hours of Tuesday morning targeting Debono and a number of his… Read More
2nd November 2020
Lombard Bank has been fined €340,058 for breaching anti-money laundering obligations by the Financial Intelligence Analysis Unit. The breaches were identified by the FIAU in an inspection on the bank carried out in September and October 2019. The bank said they did not relate to suspicions or evidence of money… Read More
30th October 2020
An Italian newsweekly said Friday that it has obtained a document in which Vatican investigators focus on a longtime investment manager for the Holy See as a central figure in the ongoing financial scandal. The investment manager has said there is nothing unusual about his work at the Vatican. In… Read More
27th October 2020
An accountancy firm that provided corporate services to one of the companies implicating in the Operation Dirty Oil fuel smuggling ring, has been fined €58,900 by the Financial Intelligence Analysis Unit (FIAU). The clients included ADJ Trading, a company implicated in the €30 million Libyan fuel smuggling ring, that was controlled by… Read More