Reports from the Republic of Malta confirm that, according to court transcripts, two corrupt officials of the Malta Financial Services Authority (MFSA) hid incriminating financial disclosure documents of the money laundering PILATUS BANK from the investigating magistrate handling the case. The documents contained information detailing Source of Funds for the capitalization of the bank. The arrogance of these two senior officers, who removed and hid evidence, is a breach of their sworn duty to the public, marks them as part of Malta's corrupt government.
The officials, who left the MFSA in 2018 and 2019, have never been held accountable for their crimes.
The two MFSA officials are:
(1) KAROL GABARRETTA, a director in the MFSA Banking Supervision Unit.
(2) RAY VELLA, also in the Banking Supervision Unit.
Given the rampant corruption in government agencies in Malta, it is presumed that both individuals, who were the only people with access to the safe where the documents were allegedly stored received substantial illegal compensation, specifically bribes, for their criminal acts. Compliance officers at EU banks must not only consider them to be PEPs, Politically Exposed Persons, but also holders of Proceeds of Crime, and therefore high-risk as potential bank clients, purchasers of businesses or real estate, or for any other legitimate business purpose.
Post a Comment
Note: Only a member of this blog may post a comment.