Libyan tycoon Galal Ibrahim Husni Bey has invested in Malta in several businesses including Capo Crudo and Metropolis Towers and he is being fronted by Keith Seychell. Aided by none other than the corrupt accountant, Brian Tonna, Husni Bey’s investments in Malta were championed by Joseph Muscat in the early years of his government. Husni Bey is noteworthy for his size – his private group in Libya, HB Group was at one point in time the biggest private group in the country.
In 2015 the Libyan Audit Bureau issued an order to freeze Husni Bey’s assets after he was accused of gaining his wealth through his strong connections to the Gaddafi regime. His run from the authorities had started as early as 2012, right before Labour entered office and Husni Bey got connected to Keith Seychell and Brian Tonna. However, Husni Bey has been setting up Metropolis-related companies in Malta as early as 2005. Husni Bey’s need to cover his assets from the reach of the Libyan authorities began in 2012. This is the context to the question I posed in my previous article on this story: why would Libya’s biggest businessman need someone like Keith Seychell to front him instead of just going to a legitimate financial services and business services company?
Also very interestingly, the story on this website about Keith Seychell fronting Husni Bey was the most-read story on this website by the Office of the Prime Minister in the last three months. Why is the story so interesting to the OPM?
Also interesting to point out is that Malta has long traditionally been viewed as a home for hidden Libyan money for Gaddafi, his family, and his associates. Last year, a Maltese court had concluded that 90 million held in Bank of Valletta in Mutassim Billah Gaddafi’s name, Gaddafi’s son, had to be returned to the Libyan government.
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