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The Maltese Herald

Bank of Valletta is still servicing Marigold Foundation (but don’t speak about it, please)

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by

Mark Camilleri
in

Following the publication of this article, Bank of Valletta got back to me and said they can not disclose any details for client confidentiality reasons. This assumes, of course, that Marigold Foundation still has accounts at Bank of Valletta and can still make use of them.

They did not get back to me when I asked whether the bank finds it appropriate that it is associating itself with the a suspected money-launderer who is also charged in court with fraud and bribery, given that the foundation is run by none other than the man’s wife. I also asked BOV whether they think they would open an account and offer banking services to an individual whose spouse is currently being charged in court over money-laundering, fraud, bribery and corruption. It so happens that this person is also a PEP because he was the Prime Minister.

Client confidentiality.

 

 

Comments

  1. Mary Mary avatar
    Mary Mary

    Ara if it were any of us lesser mortals, they?d tell us to eff off from whence we came?

    Reply
  2. Charles Vassallo avatar
    Charles Vassallo

    Mr Camilleri why don’t you inform yourself about the cedoli scheme and ask the banks
    whether they performed due diligence of the subscribers to this scheme. As far as I know. the PN did not disclose the details of the provenance of funds. It would be interesting to know whether money laundering was involved. When the man in the street goes to the bank to deposit a few thousands in the account the banks raise a number of questions and requests proof of how the money was earned

    Reply
  3. Kurt avatar
    Kurt

    We already know that the Muscats bank at BOV. So the answer to this question becomes a moot point.

    Reply

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