Financial crime can often be complex, but this story is relatively simple.
Two political operatives, Keith Schembri and Konrad Mizzi, the Iranian-owned Pilatus Bank, and an accountancy firm called Nexia BT, were exposed by the Panama Papers and by leaked reports from Malta’s anti-money laundering agency (the FIAU) as being neck-deep in corruption and money laundering.
But rather than let justice take its course, the governing party suppressed the work of investigators to prevent Maltese law from being enforced.
Pilatus Bank is a case in point. Its short client list includes Kieth Schembri, the chief-of-staff of Malta’s prime minister, and members of the ruling Azerbaijani regime.
A leaked Financial Intelligence Analysis Unit (FIAU) report shows how Schembri laundered illegal kickbacks from passports sold through Malta’s citizenship-for-cash scheme.
I wrote well over 50 letters to Maltese,
... read more at: https://euobserver.com/opinion/142642