Tag: Kevin Deguara
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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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How Horizon Finance helped finance Shoreline Mall through Middletown Investments
Yesterday, we discussed how the SmartCity concession gradually transformed from a promised ICT hub into a speculative real-estate project financed through shareholder support, related-party funding and eventually public bond markets. We also discussed how Kevin Deguara and his associate Jean-Carl Farrugia acquired the shares of the project for free and that today, despite rounds of…
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The theft of SmartCity and how the public markets supported it
Kevin Deguara, along with his associate Jean-Carl Farrugia, was charged in court with money laundering in connection with the Vitals and Steward Health Care case and is suspected of having served as one of the money-laundering fronts for Keith Schembri. His involvement in what was previously the SmartCity project, Shoreline Mall, has been particularly interesting…
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The suspected professional washing machines holding the nation’s loot
Multiple ongoing investigations by the authorities that have resulted in several arraignments in Court have a common factor which is also being scrutinised by the authorities, The Maltese Herald can confirm. The investigations are at an early stage, but investigators within official authorities suspect that several individuals currently charges with money laundering may have been…
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Here’s another criminal suspect who doesn’t ask permission for funds to travel abroad
We are currently conducting an extensive investigation into the assets that have been frozen — and mostly not frozen — of Malta’s top criminal suspects and convicts. We found out various important facts throughout our investigation. The Police and the Asset Recovery Bureau are not following through FIAU reports and are neither confiscating the assets…
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Kevin Deguara’s business partner is now also involved in Saint Patrick’s Football Club
The owner of Malta’s real-estate project called Shoreline in Smart City, Kalkara, Ryan Edward Otto has become the President of Saint Patrick’s Football Club. Kevin Deguara who is a business partner of Ryan Edward Otto, and also involved in Shoreline, was the previous president of the club and has now been appointed Honorary President. Basically,…
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ADPD oppose the construction of new road to Smart City
ADPD is urging the government not to proceed with the planned construction of a new road linking the entrance of Cottonera with Smart City. ADPD said that the new road will remove up to 5,600 metres² of green area and potentially threaten ecological and historic sites. You can read ADPD’s statement in full here. Other…
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Servicing the Convenience Shop: Nigel Scerri
Nigel Scerri, currently charged in court with money laundering and tax evasion, has denied being a laundromat for Joseph Muscat but, one thing he can not deny is his proximity to Joseph Muscat’s friends and associates. Apart from being the Chief Financial Officer of Dizz Group, Nigel Scerri also did accounts for the Convenience Group…
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Kevin Deguara positions himself to profit over new Bormla-Smart City bypass
Kevin Deguara (far-left in the photo) seems to have successfully positioned himself to profit from the latest monstrosity announced by the Labour government. The Ministry of Transport has announced it will constructing a new road from Cospicua, starting from Bieb is-Sultan, to Smart City. The road goes through agricultural land, and a very interesting individual…
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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…
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Some of the names who will be indicted for money laundering over the fraudulent public deals with Vitals and Steward
Apart from the usual suspects, Joseph Muscat, Keith Schembri and Konrad Mizzi, there are more than a dozen of companies and individuals who will be arraigned for money laundering according to a decree signed by Judge Edwina Grima. The Police have six months to seize the assets of these suspects and the Judge has also…
