Tonio Fenech and ARQ Fiduciaries have both sent their right of reply which I am publishing in full here and here.
Basically, what the letters say is that Tonio Fenech and the ARQ group do not own Sorens Aero and their one and single share does not have voting-rights over the company or any meaningful ownership claim. ARQ have also claimed that Tonio Fenech has now resigned from ARQ to enjoy retirement. Tonyo Fenech also claims to have had resigned as director from Papaya Ltd well before it was known that the company was being investigated.
To be objectively fair, these letters are pointless. I was very clear here that Sorens Aero is owned by the Aeolus Group of the Azeri-Russian oligarch Igor Khramstov. What I had wrote in clear terms was that Tonio Fenech and ARQ are fronting Russian money in Malta. As usually is the case with fronting through companies, lawyers, managers or executives would take up a small and symbolic ownership of the company so as to be able to move and make use of the money and resources registered by the company in the name of the actual owner.
I also made the point that it is no coincidence that Tonio Fenech happened to be fronting separate business interests with Russian connections, and therefore, he should have been referred to these businesses as a trustworthy source. Basically, you could trust Tonio Fenech with Russian money. He doesn’t deny this.
Interesting and unrelated point is that Tonio Fenech seems to be a big name in the local legal sector having been one of the original founders of the Fenech & Fenech firm before moving on independently.
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