MALTA'S DEKNA £400,000 GOLD FRAUD, CREATED BY JOSEPH SAMMUT

 The Safeir Gold Controversy

The case of Safeir Gold Ltd is a prime example of the "invented capital" allegations that led to Sammut’s 2015 arraignment on charges of fraud and money laundering.

The Gold Injection

When Safeir Gold Ltd was incorporated in 2015, its share capital was reportedly declared to be €400,000. Crucially, this capital was not paid in cash but in the form of gold bullion.

• The Certification: Joseph Sammut, acting as the company’s auditor/accountant, officially certified the existence and value of this gold.

• Storage in Libya: The gold was claimed to be held in storage in Libya, not Malta. Sammut provided documentation to Maltese authorities (including the MFSA and Identity Malta) verifying that the gold was a legitimate asset of the company.

The "Vanishing" Act

Investigations into the company’s financial records later revealed a startling discrepancy. Within one year of incorporation, the €400,000 worth of gold essentially "vanished" from the company’s balance sheets.

• Invented Capital: This led investigators to conclude that the gold likely never existed or was "paper gold" used solely to bypass residency requirements.

• Strategic Residency: The high capital valuation allowed the owners—the Dekna family—to secure high-tier residency status (and later passports) quickly.
  
  The Dekna family was never charged tax or anything for the 400k Gold. Instead they all got full passports which should be annulled in my opinion as quick as possible
  
  

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 The Dekna Connection: Gaddafi & Passports

The owners of Safeir Gold, specifically Saifalislam Abdalla Dekna and his father Abdalla Dekna, are key figures in the Libyan-Maltese financial nexus.

• Abdalla Dekna’s Background: Abdalla Dekna was a senior manager at Medavia, a joint venture between the Maltese and Libyan governments. He was a known associate of the Gaddafi regime, having been detained in Libya in 2012 for providing logistical support to the regime during the 2011 revolution.

• From Residency to Passport: The "investment" in Safeir Gold was the stepping stone for the family's integration into Malta. Reports indicate that following the initial residency secured via Safeir Gold, members of the family successfully applied for and were granted full Maltese (EU) Citizenship.

• Gaddafi Gold? The question of whether the "Safeir Gold" was actually part of the missing 140 tonnes of Libyan state gold remains a subject of intense speculation among financial crime investigators. Malta served as a major transit point for Gaddafi loyalists moving wealth into the EU after 2011.

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