Freezing order on Yorgen Fenech’s massive wealth is relaxed
29 Jun 2020

A court has granted Daphne Caruana Galizia murder suspect Yorgen Fenech access to millions of euros worth of shares and immovable property which he had inherited, ostensibly as they are not the proceeds of crime.

This was the subject of a decree issued on June 18 by Magistrate Rachel Montebello following a request by Fenech’s lawyers.

“The freezing order is intended to preserve and seize the profits from criminal activity, but in this case, the prosecution is accusing him [Fenech] of financing a crime, not making money out of it,” a member of Fenech’s legal team told the MaltaToday.

The inherited assets pre-date the crimes of which he is accused and had nothing to do with the case, said the lawyer. “The request was not to lift the freezing order, but only to vary it. All his family’s assets are frozen and he’s not accused of a financial crime. Besides possibly being anti-constitutional, what criminal profits are you going to preserve by doing so?”

The court upheld the request and ordered that “the specific shares and immovable property acquired… through causa mortis shall no longer be affected by this freezing order.”

Fenech, currently being held on remand at Corradino Prison, stands accused of being the mastermind behind the murder of journalist Daphne Caruana Galizia.

By Matthew Agius, Malta Today, 27 June 2020

Read more at Malta Today

Photo: Marco Verch [CC-BY-2.0] via Flickr

RiskScreen: Eliminating Financial Crime with Smart Technology

Count this content towards your CPD minutes, by signing up to our CPD Wallet

FREE CPD Wallet