Matthew Pace – definitely not ‘director of the MEPA board’ material
MEPA board director Matthew Pace, kneeling and holding the Partit Laburista flag, at a party at JPO’s house on March 10. He is an unnamed protagonist in this di-ve.com story.
Di-ve.com reported yesterday:
MALTESE INVESTORS LOSE MILLIONS
Maltese investors are believed to have lost millions of euro worth of investments after a Dutch bank and two Australian funds failed.
The MFSA is understood to be following these developments as the financial products were sold by All Invest and MFSP. Both companies ran into trouble with the Authority with All Invest found to have acted incorrectly in 2011 and MFSP fined in 2012.
More than 600 investors who invested into two Australian funds administered by LM Investment Management are set to lose around €14 million even though the possibility of recouping some of their monies still exists. This product was sold by MFSP.
In the case of the Dutch Bank, SNS Reaal, investors will lose around €3 million after the bank collapsed and nationalised earlier this year.
One of the directors/shareholders of MFSP, Matthew Pace, has been appointed by the prime minister to the board of the Malta Environment and Planning Authority. I brought this to your attention at the time. You might have thought it was all about the fact that he’s in that photograph taken at Jeffrey Pullicino Orlando’s house on 10 March, holding the Labour flag and celebrating the Labour victory.
It wasn’t. That photograph showed you the Joseph Muscat/JPO/Matthew Pace network link (Pace also featured prominently in some of the published photographs of JPO’s marriage last summer), but the real issue is Pace’s lack of fitness for purpose in serving as a director of the board.
Immediately his appointment to the MEPA board was announced, several people who are or were involved in financial services rang me to express their perplexity and concern: why him? He was a nonentity to begin with, but his involvement in those mis-selling problems with the Malta Financial Services Authority should have put him beyond the pale.
My response (but they had worked it out for themselves already)? It’s the ‘friends’ network. You’re not even talking of ‘friends of friends’ here, because the links are directly with the prime minister and his circle of acquaintance, and not at one or two removes.
It’s the real evil clique and the actual oligarchy, which is why those words were so much on their minds throughout the dying days of the last administration.
You have to be a true believer in the Cult of Joseph, or not bright or well-informed at all, not to see it.
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Can I send you a personal message? I can help identify one particular person.
[Daphne – No need. Just post the name here. But in any case, I believe they’ve all been identified and discussed.]
Far Left, guy in Blue. Dominic Micallef Jr, owner of Tattingers Nightclub, Aria etc.
[Daphne – Yes, it’s been endlessly mentioned since I first uploaded this photograph. It was, in fact, the main story behind this picture.]
I know who he is – if I’m not mistaken he did not even manage to finish his B.Com degree.
“You have to be a true believer in the Cult of Joseph.” I would have qualified the statement further to add ‘a Charismatic Cult’ or ‘a Born Again Cult’ because that is how the Josephites act. ‘The second coming of the Saviour”.
It would be interesting to know if JPO is one of the 600 investors.
And it was never so much a Labour victory they were celebrating in that photograph, rather than their own ascension to the status of Malta’s puppet-masters on Joseph’s coattails.
And the PN are doing what exactly about it? If it was the other way round we would have been bombarded constantly with this news – whole programmes, debates, chat shows, interviews devoted to the subject. And the PN just licks its wounds and contrives to elect a loser to the top post. We are in for trouble because the PN is in such a shambles.
Watch this 45 year old sermon by Archbishop Fulton Sheen especially from 7 minutes on. So very valid for Malta today under JosephMuscat,com
Kindly read the attached press release before jumping to conclusions:
http://www.mfsp.com.mt/images/Clients/mfsp_press_comment_2013_04_18_final.pdf