Malta’s FIAU Fails To Take Action Against Calamatta Cuschieri

warning against Calamatta Cuschieri found guilty of regulatory violations
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It is now several months since shocking court testimony in Malta revealed that Calamatta Cuschieri Investments Services Limited serviced convicted criminals and dealt in huge amounts of cash with the same. In June 2022, Joseph Difesa admitted in court that he withdrew €500,000 in hard cash from Calamatta Cuschieri. No denial was issued by the Maltese license holder, who boasts of being the largest investment broker on the island.

Malta’s Financial Intelligence Analysis Unit (FIAU), which is accused of being weak with the strong and strong with the weak, has not yet taken any known actions given these revelations.

It transpires that this was common practice at Calamatta Cuschieri’s offices. Questions sent to FIAU’s director Kenneth Farrugia and his deputy Alfred Zammit have remained unanswered. The FIAU officials do not declare their conflicts of interest, so one does not know where they invest their monies.

Malta’s MFSA, which has been accused of squandering taxpayers’ monies on selected advocates and luxurious trips for its bosses, did not comment on the court revelations.

The present directors of Calamatta Cuschieri Investments Services Limited (C13729) include Charles BorgNicholas CalamattaAlan CuschieriAlexander Cuschieri, and Michael Galea.

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