Tag: Michael Galea

Malta’s Calamatta Cuschieri Provided Client With €500,000 In Cash According To Court Testimony

FinTelegram Ben - June 24, 2022

A shocking court testimony in Malta by Joseph Difesa revealed that Malta-licensed Calamatta Cuschieri (https://cc.com.mt)which operates Calamatta Cuschieri Investment Services Limited was handed €500,000 in cash by his investment advisor. The court case revolves around an alleged fraudster, Ryan Schembri, who after receiving millions from various Maltese investors, fled to Dubai. Years later, he was arrested in Scotland and extradited back to Malta whereby he is facing multiple charges including money laundering.

Maltese Calamatta Cuschieri was found guilty of not following investments rules!

Malta Financial Services Authority Ben - December 12, 2021

The Maltese Arbiter for Financial Services ruled that Calamatta Cuschieri Investment Services Ltd (www.cc.com.mt) d/b/a Calamatta Cuschieri is guilty of not meeting the relevant regulatory obligations. The detailed decision describes how an investor lost more than €100,000 through investments, which were suggested to him by Calamatta Cuschieri. The MFSA-regulated company is part of the CC Finance Group PLC and one of the largest financial services firms in Malta and is also the distributor of UBS funds in Malta.

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