PEP NIGHTMARE: YET ANOTHER EXPOSURE OF KICKBACKS AND BRIBES BEING PAID TO FORMER PRIME MINISTER SURFACES

I'm in Control Here by COSIMO

In an unsurprising turn of events, Maltese media has exposed what appears to be a third major scandal involving the payment of substantial disguised bribes, paid to former Malta Prime. Minister Joseph Muscat since he left office in a cloud over allegations of corruption, and involvement in homicide. A major local developer, who has benefitted greatly from a number of favourable decisions regarding acquisition and construction projects, involving prime properties, has reportedly gifted Muscat with substantial "consulting fees" that have now surfaced. he has admitted making the payments.

Claims that JM has ably assisted the developer with his "understanding" of the Maltese economic picture are a joke; Joseph Muscat has neither the education nor experience to aid anyone in understanding the opportunities presented from an economist's perspective, or has he ever held himself out as such during his career. The money paid to him is obviously disguised payback for political favours allegedly done whilst JM was PM, nothing more. He is not the only one who has benefitted, in a country drowning in official corruption.

Payments made to present or former government officials, in furtherance of corrupt activities, which are the Proceeds of Crime often end up in bank accounts, exposing both the banks and the bankers involved in accepting them to criminal charges in multiple jurisdictions, as those bank rarely, if ever, obtain evidence of both Source of Funds and Source of Income from Political Exposed Persons (PEPs) that they allow to be depositors. As many financial institutions in Malta are guilty of such conduct, compliance officers at major banks in the European Union should govern themselves accordingly, when assessing risk levels in accepting substantial funds transfers to or through them from Malta.