Maltese Corruption: Company Charged with Money Laundering Claims Non-Existence During Alleged Crimes!

Maltese Court of Justice in Valetta
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In an interesting development that perfectly describes the outlandish Maltese ecosphere, DF Corporate Advisory Ltd, a newly incorporated entity, has been entangled in a major legal debacle over accusations of money laundering tied to the vast corruption case around the privatization of Vitals hospitals. This case draws attention due to the company’s claim of non-existence when it was allegedly involved in criminal activities.

DF Corporate Advisory Ltd was formally established on August 18, 2021, and began its operations on January 1, 2024. However, the firm faces severe legal challenges, including a €20 million freezing order and money laundering charges linked to a 30-year, €4 billion deal involving three state hospitals. A civil court annulled this deal last year, igniting a series of prosecutions.

According to court documents, the Maltese Attorney General’s office and police have accused DF Corporate Advisory of committing financial crimes between 2013 and 2023. Yet, the company asserts its innocence, highlighting that it only commenced operations in 2024 and had its corporate service provider (CSP) license approved in mid-2023.

According to a Times of Malta report, legal representatives for the company, Ezekiel Psaila, Marion Camilleri, and Franco Debono, have vehemently dismissed the charges as “absurd” and “completely baseless,” stressing the impossibility of their client committing offenses prior to its existence. They argue that the impending freezing order, set to take effect soon, will cripple the company’s operations and could jeopardize its CSP license, threatening the firm’s very survival.

The judicial protest lodged by DF Corporate Advisory targets multiple high-ranking officials, including the attorney general, the state advocate, and the police commissioner, holding them accountable for the potential damages stemming from these charges. The firm has urged for the immediate withdrawal of the charges, hinting at further legal actions if this demand is not met.

This case is part of the vast Vitals healthcare corruption case involving several top officials and companies, including former Prime Minister Joseph Muscat, over the mishandled hospital concession. The situation underscores the complexities and potential oversights in regulatory and legal proceedings, particularly in high-stakes financial and privatization agreements.

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