Bank of Valletta has finally announced that its Chief Risk Officer, Miguel Borg has resigned. BOV has said that Miguel Borg hasn’t done anything explicitly corrupt or fraudulent but this is beyond the point, and MaltaToday is distorting my reporting by taking on BOV’s narrative.
I never said that Miguel Borg was specifically pressured by someone in government to approve the loan to Steward. However, as someone unfit for his role and a political appointee, Miguel Borg will be obliged to accept anything that comes from the government’s way without doing his job and without doing the necessary due diligence. That’s how it works and that’s why the government appoints its ba?u?li to run the bank. They don’t need to be told to act corruptly and fraudulently, they just close their eyes and move along because “they are just doing their job”, but that’s not what their job really entails from them.
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