Tag: jean carl farrugia
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Syphoning profits from distressed assets? The red flags with Shoreline Mall keep counting
Digging deeper into the financing structure of Shoreline Mall, the red flags keep mounting as the combined nature of the accounts gives the impression of a textbook government-backed real-estate grift built on layered financing structures. Shoreline Mall plc’s bonds are distressed, with no guarantee that bond payments will be made, while the company appears dependent…
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Joseph Muscat: Cashing in from the Bank of Valletta junk loans (the background)
With his bank accounts frozen and withdrawals monitored, Joseph Muscat needs lots of cash to conduct his miserable underhanded political activities and pay his host of lawyers who are defending him in Court. One of his latest cash sources which Joseph Muscat used to pay his lawyers were the proceeds from the Bank of Valletta…
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More from the business of borrowing money to buy more junk
Another participant in the shady business of borrowing money to buy junk assets are DF Advocates who bought Bank of Valletta’s non-performing debt for around €26 million. Kevin Deguara and Jean Carl Farrugia of DF Advocates are being charged in the Vitals and Steward money-laundering case. DF Advocates bought BOV’s junk loans with Polymath &…
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The list of individuals and companies being charged with fraud and misappropriation of funds
Separately to the list of individuals being charged with bribery, corruption nd money-laundering, there is a list of individuals and companies that will be charged with abetting and facilitating money laundering apart from being charged with fraud or misappropriation of funds. Two of these are current Deputy Prime Minister Chris Fearne and Central Bank Governor…
