MFSA Forced To Take Regulatory Action Against Brian Tonna and Karl Cini
In a case of too little, too late, MFSA was forced to take action against Maltese nationals Brian Tonna (link) and Karl Cini (link). The two directors of Nexia BT, the company involved in major scandals in Malta, were arraigned in courts for money laundering charges, tax evasion, and falsification of documents two years ago. Their accountancy warrants were suspended on 25 September 2020. The MFSA did not elaborate on why it waited so long to act after the duo’s arraignment.