THREE YEARS TOO LATE, MALTA'S REGULTOR FINES PILATUS BANK €4.9m; READ IT ALL HERE

Back in 2018, when details of Pilatus Bank's extensive money laundering activity emerged, Malta's Financial Intelligence Analysis Unit should have taken firm action against the bank, its directors, officers and ownership. Now, years too late, we see a fine that will never be collected, and a slap on the wrist upon a long-shuttered financial institution whose license was fast-tracked by Malta's Labour Government under suspicious circumstances that reeked of corruption. 

 Obviously, then-Prime Minister Joseph Muscat ordered that no action was to be taken back in 2018, and instructed everyone (prosecutors, Attorney General, Justice Minister, Malta Police and MSS) to drag their heels until it became old news. Justice delayed is justice denied.

It gets worse; we note that the FIAU knew about Pilatus' money laundering in 2016, and this information was verified in 2017. If there wasn't an incestuous relationship between Muscat, Keith Schembri, and Konrad Mizzi, and Ali Sadr Hashemi Nejad, Pilatus Bank owner and CEO, the bank would have been exposed years earlier. It is not known how many bribes were paid, and to whom, to secure Pilatus' banking license, but all three of these individuals are suspected of illicitly profiting from the license approval.

Here is the complete text of the FIAU Notice of Administrative Measure; you are advised to read all of it closely.

 

 

 

                                            

EUROPEAN COMPLIANCE OFFICERS, BEWARE MALTA'S NEW WEBSITE SPOOFING DANGERS

Not St. Paul's Conversion, but St. Jude's Prayer Helping Malta  by COSIMO

If you are a compliance officer at a European financial institution with international clients, please be avised that there is a explosion of website spoofing in the Republic of Malta, including well-regarded news sites. Therefore, do NOT rely upon any Maltese websites for information, whether it means conducting due diligence, or looking for negative information of any kind on corporate entities or individuals. 

Frankly, given Malta's new FATF Greylisting status, its High-Risk designation by the United Kingdom, and its total inability to arrest its known money launderers and corrupt Politically Exposed Persons (PEPs), why you would be on boarding ANY new affluent Maltese customer is a real question, but now, with this out of control spoofing, you cannot rely upon even the most authoritative online news websites. 

 

   Genesis: Cain and Abel by COSIMO

 Govern yourselves accordingly.

THE UNITED STATES MUST ASSIST SAINT LUCIA IN OBTAINING JUSTICE IN LAND THIEVES FRAUD SCANDAL

 A new administration has arrived in St. Lucia; it faces the problem of making extensive corrections to local real estate titles, due to massive fraud committed by officials in the prior government, in association with corrupt associates and subordinates , who illegally altered real estate records. These criminals conspired together to steal a large amount of St. Lucia real estate from many property owners, some of whose families had held title for generations. This is a huge research project to undertake.

We have previously, on this blog*, detailed the specific types of fraud employed by the conspirators to cheat the true owners out of their land, and readers who are not familiar with these articles are urged to review those articles, by accessing the hyperlinks at the end of this article.

Some of the victims were permanently residing abroad, and others were deceased, with no immediate relatives present in St. Lucia. Still others were poor farmers and absentee landowners having no formal education. Most these victims were cheated out of their properties through artful forgeries of real estate surveys, records, deeds and wills all of which actions resulted in the fraudsters acquiring title, which they promptly thereafter sold to unsuspecting third parties, for value, cleverly conveying good title. This demonstrates a clear knowledge on the part of the conspirators, of how real estate law can be employed to deceive buyers, and make corrective action difficult, if not impossible, at a later date. 

 While we do not know precisely how many local landowners were dispossessed of their realty, given the organized campaign to acquire their lands, the number could be in the hundreds. It will take a team of experienced real estate solicitors, all of whom must be experienced in East Caribbean title laws and procedures, paired with forensic investigators, including disputed documents examiners, to determine which transfers were legitimate, and which were accomplished through forgeries. Additionally, local St. Lucian staff who are familiar with, and can access family histories, and therefore capable of tracing missing or deceased victims, to identify and locate next of kin. It is hoped that leaders of Commonwealth states can recommend, and assemble, qualified individuals, and fund their compensation and costs.

We note that the National Election in St. Lucia, on July 26, 2021, was a clear victory for the Opposition Saint Lucia Labour Party, (https://en.wikipedia.org/wiki-Saint_Lucia_Labour_Party)  which won thirteen of the seventeen seats in the House, while the then-ruling United Workers Party,(https://en.wikipedia.org/wiki/United-Workers-Party(Saint_Lucia), which allegedly supported the land thieves, lost nine of its eleven seats. Thus Opposition victory gave the victims of the land thefts a chance for justice, especially since Richard Frederick won the Castries Central seat in Parliament. 

 Mr. Frederick, an seasoned lawyer with a record of being a strong advocate for St. Lucia's underprivileged, poor and uneducated victims of the country's land thieves. He appears to be best suited,  through training and experience, of all those in Prime Minister Philip J. Pierre's government, to conduct an objective investigation and audit of St. Lucia real estate records, and to obtain justice for the victims.

 

The US State Department is believed to have erroneously and repeatedly revoked Attorney Frederick's US Visa  based solely upon false statements and accusations made by his political enemies in St. Lucia. Frederick asserts that there is not an iota of evidence possessed by any US government agency to support his continuing visa denial by the US Embassy in Barbados.

 

The Honorable Richard Frederick, now appointed as Minister in the Office of the Prime Minister with responsibility for Housing and Local Government,  now requires access with, and travel to, a number of US government agencies located within the Continental United States, to properly investigate the St. Lucia land thieves, who have reportedly concealed their criminal proceeds in the US.

stlucia.loopnews.com/content/frederick-i-accomplished-more-one-term-sarahs-three-terms-553842

We believe that St. Lucia's new Prime Minister must also ask the US State Department, at the highest level, to investigate alleged bias and racism against Frederick, which he claims exists at the US Embassy in Bridgetown, Barbados.

https://ieyenews.com/former/st-lucia-minister-sus-over-visa-revocation/

 The Government of St. Lucia, to effectively discharge its duties, especially the land thieves investigation, must have US visas issued to Richard Frederick and other members of the government, to give them access to agencies located at Washington, D.C. we trust that the US government will recognize its errors, and issue US visas.  

We note that the April 18, 1961 Vienna Convention on Diplomatic Relations remains binding upon the United States, and Prime Minister Pierre could simply invoke its provisions against the obviously racist and biased American officials with the stroke of a pen.

* St. Lucia Land Thieves Exploit Americans and Canadians

The Peter Leroy John Land Fraud Scam is Unraveling

Peter Leroy John, St.Lucia's Fraudster Extraordinaire

MALTA TOMORROW 31 AUGUST

SAY A PRAYER FOR MALTA TODAY

Given the circumstances in Malta, I believe that a prayer to Saint Jude is appropriate:

Most Holy Apostole, St. Jude, faithful servant and friend of Jesus, the Church honors and invokes you universally, as the patron of difficult cases, of things almost despaired of, Pray for me, I am so helpless and alone.

Intercede with God for me that he bring visible and speedy help where help is almost despaired of. Come to my assistance in this great need that I may receive the consolation and help of Heaven in all my necessities, tribulations, and sufferings, particularly to give the people of the Republic of Malta an honest and just government; and that I may praise God with you and all the saints forever. I promise, o blessed St. Jude, to be ever mindful of this great favor granted me by God and to always honor you as my special and powerful patron, and to gratefully encourage devotion to you.

Amen    
 

GOOGLE, AGAIN, CHOOSES PRIVACY RIGHTS OF CRIMINALS OVER OUR ATTEMPTS TO IDENTIFY THEM

 I was advised this week that Google, which runs Blogspot, of which this blog is a component, removed my 2019 article on ALIREZA MONFARED the Iranian fraudster, oil sanctions evader and money launderer, because the article contained an image of his adult son's Dominica CBI passport. It seems that Alireza made sure his son got a 10 year renewal on his CBI passport before the family fled from Dominica, ahead of INTERPOL agents.

Alireza is presently serving a twenty year sentence in Iran, for stealing $1.3bn from his government's oil sales proceeds. His partner, BABAK ZANJANI, was sentenced to death for the crime,; that sentenced will be reduced to life if the money is returned.

Apparently Google failed to actually look up the Monfareds before deleting the article; now compliance officers may not be able to identify a money launderer when he tries to move the proceeds of crime through their bank.   

YET ANOTHER FATALLY FLAWED AND INACCURATE ELECTION POLL ISSUED IN MALTA; IGNORE IT

The Circus Goes on  by COSIMO

With rumours of a General election in November in abundance, the most recent election poll was published yesterday. Objectively, it should be totally ignored, for it is not only inaccurate, due to factors specific to Malta (and any other country where there there is retribution for voting against the party in power) as well as a methodology that would appear to deliberately plan on a an outcome favourable to the Labour Party. While this is not one of those polls conduced by the pollster who also works for PL, it is nevertheless tainted and not reliable.

While we have previously* detailed why Maltese election polls are not to be trusted, let's examine this one in depth, so that our readers may understand why:

(1) First of all, the sample is far too small; questioning only 600 individuals, in a country of over 310,000 known voters is intellectually dishonest. How can one rely upon a survey of such small proportions ?

(2) Second, over 25% of those in the survey declined to provide an answer when questioned as to which party they will vote for in the next election. Insiders know that Maltese, whose names, addresses and occupations are known to the pollster, properly fear loss of jobs, or some other favour doled out by the PL, and for that reason wish to not respond to that question. Therefore, how can the pollster say the Margin for Error is only 4% ? A more accurate figure would be 10-15%.

(3) Third, for the reason stated in (2), many Maltese chose to flat out lie to the pollster, which skews the accuracy of the statistics, and makes the survey totally unreliable. There is a culture of fear in Malta on the part of people whose opinions are requested, for they are apprehensive of the consequences of honest answers, pushback from PL operatives. You had better not tell the truth, if you do not want to be hurt economically.

(4) Fourth, the survey reportedly concentrates upon individuals in Inner Harbour areas and Valletta, whose lower income residents invariably support Labour. The survey, to be accurate, should have split the 600 evenly between the Districts. You will notice that there is no mention in the reports that this was done.

Therefore, the bottom line ostensible results, that Labour's alleged majority of over 50%, versus that of Nationalists' supporters of only just over 40%, is not only wrong, it is deceptive and intellectually dishonest. Do NOT trust it. PN is obviously on a good recovery of voters, and the pollster seeks to hide that fact.

Look at the conclusion: The [Nationalist] party continues to trail badly in the polls, with surveys indicating the PL is on course for another easy victory. That's BS and PL propaganda of the highest order. When will we see an honest election poll in Malta ?

_____________________________________________

*Pro-Labour Media Publishes Deceptive Election Poll with Bogus Data to Mislead Voters;  June 6, 2021.

MUSCAT'S QUESTION: WHO IS MALTA'S DEEP THROAT ?

                                               

                                           Why is this Man Smiling ?

 

As previously unknown information breaks the surface in Malta, we start to come closer to identifying that certain individual we have dubbed Deep Throat, after the FBI Agent who provided two American journalists with the clues that they needed to expose the Watergate Affair, which caused the President of the United States to resign in 1974. Malta's version of that powerful whistleblower may have already disclosed, to a foreign law enforcement agency, sufficient evidence to bring down the entire Labour government,  cause the indictment and arrest of several former and sitting senior government officials, including the former Prime Minister, Joseph Muscat.

We don't know much about his identity, but we have a number of clues:

1. He met with the law enforcement agency at a specific location on the continent of Europe, in [redacted]. He participated in lengthy debriefings whilst there. Some sources say it was Italy.

2. He has received Immunity from Prosecution, due to the Substantial Assistance that he has provided.

3. He is currently a member of Malta's Labour Party. Most sources agree it must be a lawyer, seeking to salvage his career, so that he can later practice law abroad.

4. He regards himself as a personal friend of Malta's former Prime Minister, Joseph Muscat.

5. He fears for his life, and that of his family should he be identified before they can be safely extracted from Malta.

6. He surrendered evidence that incriminates several of law enforcement's most important targets.

7. He has agreed to disgorge liquid assets which are the Proceeds of Crime, and he may qualify to enter  the American Witness Protection Programme (WitSec) which will relocate him abroad, under a new identity.

Frankly, I don't think we will know who it is until he (or she) disappears from Malta altogether, only to resurface only at a trial abroad, but we will keep on looking. They say curiosity killed the cat. What do you think, Mr. Muscat ?

MALTA IN EXTREMIS; WHOSE HEADS WILL FALL ?

                                           The Conjurer  by COSIMO

 

The refusal of the ruling Labour Party (PL) to implement the reforms detailed in the recently published Public Inquiry into the assassination of Daphne Caruana Galizia has thrown the Republic of Malta into a state of public indignation and outrage from which recovery is doubtful so long as the present government remains in power. Previously silent sectors of society have become vocal in a universal call for meaningful change. Only hardcore element of the Pl remain loyal to their government, which appears to be frozen in fear of charging their own leaders with criminal conduct, political and legal suicide. 

To make matters worse, dirty tricks and political stunts obviously the work of PL supporters have outraged the voters, and further alienated the very Maltese who elecged Labour in the last to elections. Allegations of ethical violations, involving attacks upon the PN leaders who would lead the next government, smack of the worst tactics, reminiscent of Dom Mintoff's dark political maneuvers,left over from a period that most Maltese would rather consign to the dustbin of history. 

Whither Malta ? Considering that neither the judiciary, police and AFM, off of whose leaders owe their positions to Joseph Muscat, and most of whom themselves are stained by allegations of systemic corruption, relief cannot come from within the country's institutions. It is humbly suggested that only outside forces, whether from the United Kingdom, European Union, or the United States, will bring down the current government hard, and allow for true reform. 

 At this point, only external pressure, of a criminal nature, will be effective. When will it come ?

HAPPY BIRTHDAY, DAPHNE 26 AUGUST 1964

 

                                      Her truth is Marching on  by COSIMO

 

 

 

                                                            NO JUSTICE, NO PEACE.

 

 

 

 

 

WITHOUT YOUR SUPPORT, THE BLOG WILL BE GOING TO A SUBSCRIPTION BASIS

                                                    The Falling Man  by COSIMO

We regret to report that 99.92% of our Malta readers have not made a donation to the blog, which is a problem, because we must now expand our court sources in the field, for reasons which will shortly become evident. Therefore, unless our loyal readers, who have been accessing our inside information for the past eighteen months but not making any contributions, lend a hand financially, we must, regretfully, move the Malta content to Subscriber Only status this Fall. At that point, the Financial Crime Blog will no longer cover Malta financial crime news.

 In addition to our outstanding Malta coverage, new COSIMO drawings will only be available on that new website. If you want this blog to continue to be available to all, lease go to your laptop or desktop computer, find the "Donate" icon on the right side of the page, and contribute to keep the blog the free and valuable resource that it has been.

 Thank you.

CLIENT COMMENTS ABOUT THE PERFORMANCE OF CONTROVESIAL MORTGAGE PROCESSOR FAY SERVICING ARE BRUTAL AND DISTURBING

                                                      Ed Fay, CEO of Fay Servicing LLC
  

If you have read our prior articles* about the Chicago-based mortgage facilitator and processor, FAY SERVICING LLC, you know that the company was fined $1.15m, by the Consumer Financial Protection Bureau (CFPB) for illegal servicing practices. The CFPB determined that Fay Servicing not only kept borrowers in the dark about critical information regarding application for foreclosure relief, but the company moved foreclosures forward while borrowers were engaged in seeking foreclosure relief. Fay continues to maintain foreclosure actions while the borrowers' applications for modification of their loans are being reviewed, a prohibited practice known as "Dual Tracking."

We have reviewed a large number of consumer comments filed online; while we have not been able to independently confirm the complaints, which vastly outnumber the favorable accounts (and which may be PR plants) the sheer number of problems detailed exposes a dysfunctional operation, which its detractors say intentionally sought to deny them relief, and sought to foreclose on their properties. 

 Some of the allegations include, but are not limited to, these very disturbing violations:

 (1) Widespread Dual Tracking. 

(2) Fay Servicing is refusing to honor, or even to review, applications for modification of loan terms. Staff laughs and makes fun of borrowers when they call in, hangs upon keeps them on hold, and directs them to other staff who do not answer the telephone or return calls or emails. 

(3) Fay failing to even respond to applications for loan modification within thirty days. 

(4) Fay's refusal to accept mortgage payments. Staff are rude, disrespectful and unhelpful. 

(5) Fay's refusal to reinstate a mortgage, even after payment is made. 

(6) Declaring borrowers to be in Default, and threatening foreclosure, even though the borrowers are up to date on their payments. Seeking to intimidate borrowers, and misrepresenting the legal status of their mortgages to inquiring borrowers.

 (7) Charging borrowers for insurance when they have no legal obligation to pay it, and it is not due.

(8) Failing to deliver documents more than one year after full payment on mortgages is made. Is Fay Servicing a racketeer-influenced corrupt organization (RICO) ? That is a question for the courts, but one which the public has a right to know. It's "take-no-prisoners" attitude towards borrowers seeking  to modify their mortgages is inconsistent with their supposed goals of customer service. 

Should a government agency shut them down ? We invite your feedback; send to miamicompliance@gmail.com 

If you missed any of our prior articles, please access the links below:

Making America Homeless Again

Deceptive Mortgage Servicing Company Fay Servicing Exploits and Cheats Borrowers

The Illegal Foreclosure Tactics employed by Fay Servicing

WILL MALTA'S GREYLISTING TURN INTO DE FACTO BLACKLISTING ?

                                                                   

                                  PL Headquarters - Malta's Tower of Babel by COSIMO
                                                                                                                                    

If you read the Vox Populi on Malta's media, you know that the country's public are clamoring for a removal from the FATF Greylist, and they know exactly what is required for that to happen. Government actions to date are "nothing but a show to impress us and to make us believe that the same people responsible for getting Greylisted will reverse it.No, they cannot."

 Obviously, the public is no longer fooled. 

 The solution is well known. "Malta will not be removed from the Greylist until people are jailed for the massive corruption, and Labour removed from power. Our professional business leaders know this. The US and Europe know what corruption and massive cross-border criminality have been uncovered by their law enforcers."

 We know that FATF will never place Malta in the same category as North Korea and Iran, but the danger is that the triple threat that has hit Malta (FATF Greylisting, UK High-risk designation, IMF critique) will cause compliance officers at the world's major banks to assess the country as the functional equivalent of Blacklisting. This would mean that the big banks would decline to accept requests from their clients for wire transfers, both to and from Malta, and for correspondent banking relationships. If OFAC weighs in, and also imposes sanctions,  it could happen. Therefore, Malta would not have to be Blacklisted for it to be isolated by the international financial community.

 Given that Malta's ruling Labour Party most likely will not indict its own sitting ministers and former PM, expect the roof to literally fall in sometime this year. Will the resulting economic troubles cause a large segment of the Maltese population to move abroad, such as they did during the time the radical Socialist Dom Mintoff was prime minister ? We cannot say, but Malta is clearly at risk.

MALTA'S ALLEGED GREAT CORRUPTER, MULTIMILLIONAIRE YORGEN FENECH, WANTED TO MOVE TO MIAMI

            

                                    Here I am in America's Cocaine Capital  by COSIMO

Snapshot: Two men  from Chicago are in Miami on holiday. One asks the other, "Where can we get some cocaine?  to which the other, a construction  executive who was a Vietnam veteran remarked, " I know someone."  From that casual conversation, grew a Miami-to-Midwest drug pipeline that flourished during the 1980s. ( From the censored portions of my autobiography, The Laundry Man).

Testimony, given in a Maltese court this week, confirmed that local businessman Yorgen Fenech not only planned to move to Miami permanently, but made extensive preparations to do so, which were only thwarted by his arrest for his alleged rile in the assassination of investigative reporter Daphne Caruana Galizia. Chief Investigator Keith Armaud stated that he acquired this information from correspondence between Fenech and his mother, Patricia Fenech, from the periods immediately prior to Fenech's arrest, and subsequent pretrial detention, in 2019.

According to Arnaud:

1. Fenech planned to sell his interests in the family business, conservatively estimated to be in excess of €30m, and make the move, on a permanent basis.

2. Fenech stated that he had "outgrown'' Malta.

3. Fenech had acquired photographs of suitable home in Miami, during a visit, and forwarded them to his mother for her approval.

4. Fenech had secured  information on local schools there. He reportedly had requested a detailed report.

5 He asked his mother whether she could live in Miami six months out of every year.

There are valid questions regarding whether he could qualify for permanent residence, due to his previous reported conviction, in the State of Texas, for Possession of eight grams of cocaine. Issues of substance  abuse are often cited as grounds to deny applicants residency in the United States, especially when they involve arrests. Ask any immigration attorney, Yorgen, if you don't believe me. Fenech's alleged involvement in bribes paid to senior Maltese government officials could also serve to block his efforts to become a resident. Ever heard of the Foreign Corrupt Practices Act ?

Don't worry Miami, he's not moving there quite yet.

 

 

JOSEPH M SAT ON A WALL; JOSEPH M HAD A GREAT FALL (FROM GRACE); ALL OF FENECH'S HORSES AND ALL OF FENECH'S HENCHMEN COULDN'T PUT JOSEPH TOGETHER AGAIN

                               The Artful Dodger and his  Crew: All Fall Down by COSIMO

Greylisting is "manageable," according to Malta's defrocked prime minister, Joseph Muscat. Considering that his doctorate was allegedly bought, not earned through academic achievement, and therefore his credentials as an economist are as bogus as his record of telling voters the truth, his "considered opinion" is worthless , especially in the face of additional sanctions that have been implemented against Malta since the FATF decision. 

It will get worse, Malta, as other NGOs and international organizations dealing with AML/CFT pile on their own particular version of sanctions. The cumulative result will not be pretty, and you have your "Artful Dodger" to thank for it.  He and his PL mates will be busy spending all their bribe & kickback money in London or New York

What's going to happen to Malta's local banks when American compliance officers designate Malta as too high risk to deal with, and red-line wire transfers over USD$2500, as they have done in the past for "non-cooperative" offshore tax havens ? Their clients will flee en masse to foreign banks, and your country's economy will take a nosedive. Perhaps you want to ignore your personal Public Enemy, and get with the programme prescribed by FATF.

 Of course, the first thing you must do is arrest all your career money launderers, and I know just whom you can start with.

MALTA'S PUBLIC ENEMY NUMBER ONE, JOSEPH MUSCAT, LIES, DENIES AND MISDIRECTS IN HIS INTERVIEW, BUT THE VOTERS AREN'T FOOLED

                                     

                                     I always Blame the Other  by COSIMO

If you read the transcript of former Malta Prime Minister Joseph Muscat's recent TOM interview, you know that this man cannot admit to the truth when confronted with the facts. Judging by reader comments that were published, the voters in Malta didn't believe any of his answers, with the exception of the dwindling number of his fanatic fans, who excuse his crimes because he put cash in their pocket and made the trains run on time.

                                                   Hiding his Brussels Injuries by COSIMO

 

Here are a few we selected that are instructive, as well as relevant, for 2021:

Nobody believes Muscat, that he or someone close to him, was not involved in Egrant, except hardcore Labour supporters, and yet he keeps at it,

If JM will ever return to politics, and gets elected, it will surely mean that Malta will be BLACKLISTED by the countries that matter.

... he will always be associated with corruption, money laundering, impunity, division and murder. 

The only people who still back the likes of  MICHELLE and JOSEPH MUSCAT, KURT FARRUGIA, KEITH SCHEMBRI, KONRAD MIZZI, CHARMAINE GAUCI, ALISON ANASTASI are the ones who benefited from highly paid appointments and directorships, funds and privileges that they most certaibny do/did not deserve.

The Guilty will always deny their crimes to the end.

How can you tell if JM is telling lies ? His lips are moving.

Muscat "I paid the ultimate political price. "  The ultimate price was paid by Daphne.

 

 There are literally hundreds more. The People have spoken, but Muscat, who must be regarded as a Public Enemy to Malta, still thinks he's the peoples' choice, and free from blame. Only fanatics obsess with electoral results. Patriots worry about their country; Muscat is NOT a patriot. What he did was to enrich those around him, and perhaps himself too.

 Say it again: Public Enemy.

 

 

 

 

UNLESS MALTA PROMPTLY RESPONDS TO FATF REQUIREMENTS, EXPECT OFAC SANCTIONS ON ITS FINANCIAL INSTITUTIONS FORTHWITH

t

                                 The Evacuation of the Villains from Castille by COSIMO

The Financial Action Task Force, more commonly known as the FATF, expects that the Republic of Malta will immediately begin to conform to all FATF requirements regarding Anti-Money Laundering, and Countering the Financing of Terrorism. This translates to promptly filing Bills of Indictment against both individuals, and financial entities, that have engaged in money laundering and terrorist financing, and proceeding diligently against those who have already been arrested. 

 In the event that Malta delays zealous prosecution of its principal targets, who are responsible for the Greylisting of the country, the dominant FATF members, being the United States, the United Kingdom, and the Federal Republic of Germany, all intend to enact powerful sanctions, any one of which could quickly destroy the Maltese economy. While there are those in Malta who believe that such drastic action would not be taken by any European nation, be advised that the United States has consistently demonstrated, through its extensive sanctions programme, that it has no such reservations about placing crippling sanctions upon entities that it considers a national security threat. Malta's laundering of $130m from Venezuela qualifies as such, all by itself. It is a given that the US Treasury's Office of Foreign Assets Control sanctions cripple any entity it imposes an SDN sanction to. The local banks would fail.

 Should Malta's current government continue to slow-walk money laundering and corruption prosecutions, you can expect to see the US apply OFAC sanctions to all the local Maltese financial institutions, most of which were deeply involved in providing correspondent banking and US Dollar services for Pilatus Bank, or which laundered dollars embezzled from Venezuela,  or evaded international sanctions upon Iran's illicit oil sales, laundered criminal proceeds for corrupt Politically Exposed Persons (PEP), and provided financial support to Hamas, a Specially Designated Global Terrorist (SDGT) organization. 

 When Malta's banks can no longer send and receive wire transfers to the United States for their clients, those banks will experience massive client flight, and eventual insolvency. In essence, it will remove Malta's businessmen from access to American products, markets, and financial services. This will deal a fatal blow to those banks, whose closings will plunge Malta deep into a collapsing economy, from which recovery is doubtful. Don't expect the EU or IMF to loan you money to survive. Malta will be bankrupt with no solution available.

Which path shall Malta take: prosperity through reform, or economic ruin if it fails to comply ?

                                       Still no Evidence of Wrongdoing by COSIMO 

 

 

IN MALTA, EVEN THE ELECTION POLLS ARE CORRUPT

                                                  How to Lie with Statistics 101

Election polls that appear in Malta principal newspapers are often grossly inaccurate, because the pollster, VINCE MARMARA, pads the figures to reflect a much larger majority for the ruling Labour Party. Insiders say it is because PL pays him handsomely, as the party's official pollster,  when he does the same tasks for the newspapers, he as much as doubles Labour's allegedly true advantage. We call this a Conflict of interest, and it would not be permitted in any democracy where leaders insist on truth, but that's not Malta, Europe's centre of corruption.

 Voters in Malta are aware of this practice, and fear the consequences should they favour the Opposition party, the Nationalists. Since Marmara has their telephone number and name, and verifies identity with their ID number, voters are afraid that their disclosure of an intent to support the Nationalist Party with have negative repercussions at work, meaning that their boss, who receives consideration to support Labour, might fire them. 

Poll watchers in Malta say that 30% of those contacted either say they are undecided, or fail to answer. That drastically changes the Margin for Error, a major factor in any poll. of course, not saying whom you will vote for confirms voter fears of "outing" their preferences to the pollster.

Often, voters in Malta lie to the pollster when he contacts them. Given the present situation in Malta, the imposition of Greylisting by the FATF, Prime Minister Robert Abela's refusal to fire the nine sitting ministers implicated in Joseph Muscat's previous administration, for corruption and permitting criminals to act with impunity, expect Labour to lose its majority, and fail in the upcoming election. At that point, things will get very interesting in the courts; stay tuned.

THE UNITED STATES ORDERED MALTA NOT TO CHARGE PILATUS BANK OWNER & DIRECTOR WITH MONEY LAUNDERING

While many people in the Republic of Malta, and even some in Maltese media, continue to berate Police Commisioner Angelo Gafa, for first promising that a "major case" (obviously Pilatus Bank) would be opened soon and then failing to take any action against Pilatus Bank Directors and owner, there's more to this story than has been publicly disclosed. This new information may explain PC Gafa's inaction, and his failure to respond to the increasing public pressure being applied against him. 

 According to a reliable source of proven accuracy, and who has insider contacts within Maltese government, Maltese law enforcement and prosecutors received specific instruction from senior government officials, ordering them to cease and desist with any prosecution of the Pilatus bank directors, and its owner, Ali Sadr Hashemi Nejad. This order was based upon a request, issued by US authorities, that Malta not at this time charges the Pilatus directors. 

 While this information would seem to be contrary to the public need to enforce Malta's anti-money laundering and terrorist financing laws, it does make sense when you pair it with the current belief, held by American court observes, that Hashemi Nejad provided major Substantial Assistance to US law enforcement, including information regarding laundering by major American targets, through Pilatus Bank. Given that the targets could learn of American efforts aganst them, engage in international flight to evade proecution.

 Sometimes, where the focus is upon targets of an investigation deemed by the Department of Justice to be far more important than what are regarded as less important, their prosecution, though worthy of attention, does not occur, to protect sources and methods, and key witnesses, some of whom are whistleblowers or who are in undercover status. Given the lack of Oversight, and a sufficiently prominent objective, prosecutors are free to engage to sweeping an important case, such as Pilatus Bank, under the rug. While the people in Malta certainly won't like it, they may have to accept it.

DID ALEX SAAB MORAN'S WIFE RELOCATE TO MOSCOW TO EVADE THE LONG REACH OF THE UNITED STATES ?

 

                                           Alex Saab Moran                     Camila Fabbri

 

 It may be a minor point for most observers of the ongoing extradition saga involving ALEX NAIN SAAB MORAN, the fugitive Colombian money launderer who is the personal laundryman of Venezuelan President Nicolas Maduro, but it may be a central point of Saab's strategy. His wife, the Italian model, CAMILA FABBRI, relocated to Moscow, in a move that might be more significant than it appears to be on the surface.

 Ms. Fabbri, who has herself been linked to money laundering in Italy, France, the United Kingdom and the United Arab Emirates, could be the subject of a sealed American Federal indictment in the Southern District of Florida. Other Saab family members (e.g. Amir Saab and Luis Saab) are known to be involved in moving criminal proceeds for him, on both sides of the family, and many of them are directly connected to Fabbri. 

 Given that a large portion of the Venezuelan "flight capital" (funds embezzled from government, or fraudulently obtained through preferential government contracts, is in US Dollars, which confers jurisdiction over Fabbri, it raises an important issue: Can the US Department of Justice extradite Fabbri from Western Europe, and barter her immunity from prosecution in exchange for his entering a guilty plea, and subsequently rendering Substantial Assistance against major targets of the DOJ ?

 Could the prospect of Fabbri receiving a 20-year sentence in the US for money laundering cause Saab to flip ? What do you think ? I am sure that Saab's US attorneys considered the possibility, and conveyed this to their client, who thereafter had his wife and family relocate to Russia, which most certainly does not have An extradition treaty with the US, its principal rival in winning the hearts and minds of the nations of the developing world. We call that risk mitigation; Saab most certainly calls it tying up loose ends that could come back to bite him, fatally.

CORRUPT COURT RELEASES ACCUSED DRUG KINGPIN, DUBBED "THE MALTESE EL CHAPO," ON BAIL

J

                                                               Jordan Azzopardi

In yet another court ruling in Malta that demonstrates how rampant corruption endangers the public, JORDAN AZZOPARDI, an alleged drug trafficker and career criminal, has been released on bond. The court reportedly released him because he has been in jail for more than two years since his March 2019 arrest, and his case has not gone to trial during that time, citing European Court of Human Rights decisions as authority for his release. He has been repeatedly been called "The El Chapo of Malta" by local media. 

The defendant, an alleged trafficker in Cocaine, Heroin and Cannabis, faces charges that include:

 1.Money Laundering.

 2.Drug Trafficking. 

3.Criminal Conspiracy.

 4.Circulation of Counterfeit Currency.

 5.Possession of an Unlicensed Firearm. 

6.Threatening and Injuring a Victim. 

7.Violating the Conditions of Bail.

 He has reportedly entered a plea of not guilty to the charges. The case has NOT been set for trial.

 In any normal democratic country where the Rule of Law was observed, Azzopardi would be held until trial as a danger to the Public, if not also due to his status as a Flight Risk, due to his occupation, wealth in cash in his possession when arrested, and known criminal conduct he operated what have been described as drug trafficking dens, retail drug sales operations, which are a threat to public health and domestic stability, in that they foster addition in the community. Maltese insiders have speculated that the release of such a dangerous criminal is due to the fact that he has political protection, due to the intervention of an unknown senior government official, Given the known close relationship between the current government and the Maltese Mafia, which works closely with Sicilian organized crime groups, it is obvious that word came down from Castillem the seat of government, to release him. 

In Malta, where corruption is deeply embedded in the court system, he may never see the inside of a courtroom. perhaps the evidence will disappear from the police property room; alternatively, the case will fester in the system for several years, after which successor prosecutors and police officials will announce that there was insufficient evidence to convict him, and the charges will be dismissed. In another alternative, what is referred to Compilation of Evidence, which are pretrial proceedings, will never be completed, and some reason will be found to let the case linger indefinitely, in what amount to a de facto acquittal.

 The European Union found that all criminal cases rot in the Maltese court system for four times what they take to go to trial, when compared to case in other EU Member states. That's because those in power in government want them to be subject to indefinite postponement, and Justice Delayed is certainly Justice Denied in the Republic of Malta. If you have powerful partners in government, or are able to pay substantial bribes, you too can commit crimes with total impunity.

HOW MONEY LAUNDERERS WORK

 

 

Description: A unique seminar that takes attendees inside the perspective, and mind, of the money launderer, his strategies and tactics, and how his training and expertise gives him an advantage over those seeking to identify his operations, and interdict him on a real-time basis. The program examine typical money launderers, details their background and experience, and examines their toolkit and how it is successfully used.It uses the presenter's history to profile laundrymen, so as to make attendees better equipped to analyze the actions of potential targets. It also covers their approach to problem-solving, and why law enforcement and the private sector are oftenineffective against their operations. A number of their advanced, complex and esoteric techniques are examined, to further confirm their innovative style of creating new and opaque permutations and combinations of their schemes.The seminar can be given either in person or in a vitual format. (Length: three hours)

 About the Presenter: Kenneth Rijock, Financial Crime Consultant, has 40 years of relevant experience. A former Miami banking attorney, he spent a decade as a career money launderer.After serving a Federal sentence for racketeering, he has been advising law enforcement and the private financial sector since 1992. His experiences are unique in the consulting field. As the Financial Crime Consultant for World-Check, he taught and lectured in over 100 countries; he testified three times, before committees of the United States Congress, on proposed anti-money laundering legislation that was incorporated in the USA PATRIOT Act of 2001. He has published Kenneth Rijock's Financial Crime Blog since 2012 (https://rijock.blogspot.com).

His autobiography,"The Laundryman," was published in the UK by Penguin Press/Random House UK; Foreign publishers with local language versions in The Netherlands, Poland, Slovakia, Hungary, Mexico and China; its is widely available on the Internet.

For further information: miamicompliance@gmail.com

ATTORNEYS FOR ACCUSED MONEY LAUNDERER ALEX SAAB MORAN THROW OUT LEGAL THEORIES TO PREVENT HIS IMPENDING EXTRADITION TO MIAMI TO FACE THE MUSIC

 

                                                                        Mugshot

Lawyers in the United States, Venezuela, the Cape Verde islands and Nigeria are pulling out all the stops to seek to keep ALEX NAIN SAAB MORAN from being extradited to the United States, where a major  ($350m) money laundering indictment awaits him in U.S. District Court in Miami. Moran's extradition was confirmed by Cape Verde's highest court, and his extradition is believed to be imminent.  

Saab, who is of Lebanese extraction, id also wanted in his native Colombia. He, as well as a number of his and his partner's family members, have all been sanctioned by the Treasury's Office of Foreign Assets Control (OFAC). 

His various attorneys have advanced a number of legal theories to block the Department of Justice from trying their client, all of which to date have proven ineffectual.

1. Their efforts to have his designated Fugitive Status removed in SDFL were blocked, as well as his purported Diplomatic Status. We note that he was NOT in possession of a diplomatic passport from Venezuela when he was detained. He is not a Venezuelan national, but is a Colombian. His CBI passport, issued by Antigua & Barbuda, where he is also a purported diplomat, was revoked. It is questionable whether he has complied with the requirements of the Vienna Convention, and he is obviously not an accredited diplomat. The judge in SDFL invoked the Doctrine of Fugitive Disentitlement, which holds that Federal fugitives cannot obtain any relief in an American District Court unless they are physically within the Court's jurisdiction, meaning present in the US. His counsel has appealed this ruling. 

2. His lawyers secured an order from a West African regional court in Nigeria, but Cape Verde refused to accept that court's ruling as binding upon them, as it was not enforceable. It is noteworthy that a social media campaign in Nigeria to generate global public opinion to "free" Saab was exposed as having been created by Saab's close associates.

2. His appeal, to the Eleventh Circuit Court of Appeals, of the lower court decision, remains pending. We are closely monitoring that case, as well as the efforts of Cape Verde officials to coordinate his physical transport to Miami. 

3. His attorneys claim that, since there is no extradition treaty between the US and the Cape Verde Islands, he is unable to invoke the protections of the Doctrine of Specialty, which only allow charging for the crimes one is extradite for. His lawyers argue that he could, after arrival in the US, be charged with additional felonies, and therefore he should not be extradited.

This case is of interest to our Malta readers, due to the fact that both Saab and his co-defendant, ALVARO PULIDO VARGAS, also a Colombian national, had Maltese corporations, which they allegedly employed in their international money laundering operations. The identities of individuals in Malta who facilitated Saab and Pulido's criminal conduct have not yet been named publicly, but it is anticipated that they will be shown at trial, and in the evidence introduced therein. They are believed to include Maltese financial services company officers, and corrupt senior government officials who assisted him in money movement. 

Professor Bruce Bagley, the former head of the University of Miami's Department of International Studies, and who has pled guilty to money laundering, will most likely be a principal witness against Saab, who was allegedly his client. Bagley's sentencing has been postponed to October 1, 2021, in what was seen as a tactic to keep him in South Florida, to facilitate his availability to testify. There are believed to be several other cooperating witnesses standing by to appear agaInst Saab Moran at trial. Therefore, he has reason to seek to avoid a trial, where a conviction, and a long sentence, is the probable outcome. 

 

READ THE NEW MOODYS RATING ON MALTA, WHICH CHANGES THE OUTLOOK TO NEGATIVE FROM STABLE

 

                                        Read it and weep, Malta. 

If you do not want to enlarge the page, you can access it through this link here.

THE BLOG IS BACK FROM SUMMER HIATUS

 

                                           I didn't Kill Anyone  by COSIMO

We are back now, publishing on a daily basis. If you are one of the group of financial contributors to this blog who automatically receives all articles in your email inbox when they are posted,  that list was only intermittently operational in July. You may want to scroll back to see if you missed anything. As of the next article, you are all back on our mailing list.

Thank you for your continued support to the Financial Crime Blog.

                                                Take a Closer Look  by COSIMO

THE MALTESE ARTIST COSIMO BARES THE SOULS OF THE MOST EVIL SINNERS

                                              Taking out the Trash  by COSIMO
                                      

 We on this blog are fortunate to have the able assistance of an outstanding Maltese artist, to complement our dark stories about crime and corruption in the Republic of Malta. He is using the alias COSIMO, to protect both himself and his family from harm, for we know what happens to individuals in Malta who stand up for their belief in the Ten Commandments.

                                            The Man who Would be King by COSIMO
 

We wish to publicly thank COSIMO for his outstanding artistic contributions to our articles. The  battle between Good and Evil could have no better visual advocate. When the Maltese Nightmare is over, we hope to collect the many drawings and paintings published here, so that in the future,  Maltese readers can appreciate and understand this period in the history, so that it never happens again. 

                                   They Stacked the Deck and Fixed the Game by COSIMO

WHEN WILL THE UNITED STATES CRIMINAL JUSTICE SYSTEM TAKE DOWN JOSEPH MUSCAT AND THE MALTA MONEY LAUNDERING MACHINE ?

                                                         All Fall Down  by COSIMO                                    

The question that I am most often asked by readers from Malta is When will the US Department of Justice Indict Joseph Muscat and all the Money Launderers here ? After all, the massive amount of money laundering there, reportedly involving Venezuela, Azerbaijan, Russia and Iran, involved mainly US Dollars, which provides the required extraterritorial jurisdiction. So, what's THE delay ? The new American Attorney General has been in office for more than half a year, sufficient time to assemble evidence, examine witness statements, and place the results before a Grand Jury.

 While we cannot with complete certainty provide the correct answer to that question, the consensus of  opinion amongst criminal defence lawyers here is that the reason is one of these alternatives;

 

                                                    The Maltese Mafia at Castille

1. COOPERATING INDIVIDUAL(S) ?: One or more of the original targets of the money laundering and Foreign Corrupt Practices Act (FCPA) has cooperated with the DOJ. Perhaps all the information they have has not yet been provided, studied or analyzed.

2. UNDERCOVER AGENT ? :There is a law enforcement agent (non-US nationality, most likely British or German) operating within Malta in an undercover capacity, and his work is ongoing. 

                                                  The PM bends a knee for the Godfather 

3. IS THERE A HIDDEN HOLDOVER TRUMP SUPPORTER: The new AG has made a point of not firing those career DOJ attorneys who acted upon what most say were orders from Trump political appointees. Is there a holdover who is slow-walking the indictments, for his own personal agenda ?

4. ARE THERE POLITICAL CONSIDERATIONS ?; With the 2022 Congressional elections looming on the horizon, and the Democratic Party needing each any every vote to hold the majority in the House of Representatives, did word filter down to not file under after November 2022 ? Alternatively, did the UK or the EU weigh in, worried that dodgy British, German or Italian businessmen using Malta as a tax haven will be exposed in any American money laundering case ?

5. WAS IT AN AMERICAN INTELLIGENCE FAILURE ?  Given the small US law enforcement footprint in the area, Was the IC assigned to the task and has the American Intelligence Community failed to deliver sufficient evidence to satisfy DOJ lawyers they have enough to prevail at trial ? 

6. ARE THEY WAITING ON A PRINCIPAL TARGET TO FLIP ? Is there  a reasonable expectation that disgraced former Malta Prime Minister Joseph Muscat, or a close associate, will soon roll over on his co-conspirators, and that event, which will completely change the nature of the case, is worth waiting for ? 

                                                          Muscat's Rasputin on duty

7. ARE THEY WAITING ON A RELATED FCPA CASE TO BE FILED ? Is there a major Foreign Corrupt Practices Act indictment that must be filed first ?

8. IS THE U.S. WAITING FOR CONCLUSION OF THE DAPHNE CARUANA GALIZIA EVIDENCE COMPILATION ? Perhaps the US Embassy doesn't want to detract from that case.

We cannot say at this point which alternative is the one, but rest assured we will be closely watching, and reporting on, all developments as they occur; Stay tuned, Malta.

"THOSE THAT FAIL TO LEARN FROM HISTORY ARE DOOMED TO REPEAT IT." WINSTON CHURCHILL

 

 

 

                       REPUBLIC OF VIETNAM & CAMBODIA  2 Jul 1969-12 Aug 1970. 

                      LEST WE FORGET ...