POST DATED 2 JULY 2013/Tell me again why Keith Schembri ‘gave up business’ to become Muscat’s personal assistant?
Below is a post I wrote on 2 July 2013 (see date above), four months after the general election. I had been impressed by the ludicrous manner in which people seemed to accept as entirely normal the fact that Keith Schembri gave up the directorship of his businesses when he became the Prime Minister’s chief of staff, when it’s the shares that make you the money, and he kept those. Besides, he transferred his directorships to his own father.
I’ve brought it up again now because, in the Panama Papers, there is information – revealed by the Australian Financial Review – that Mossack Fonseca described the concerns of its colleagues in New Zealand, when the trust was set up, in an email: “As both settlors are PEP, our NZ colleagues need to be comfortable that sufficient due diligence has been carried out to ascertain that funds being settled are not subject to any corruption risk. With respect to Haast Trust, it would appear that there was some negative coverage regarding the tender process for supply of paper to the government shortly after the settlor’s appointment as Chief of Staff, so if you could also include a detailed information about this, that will be a very important information for us as well.”
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Kasco Holding’s director is Alfio Schembri, Keith’s father. But the two shareholders in Kasco Holdings are Alfio Schembri, who owns two (2) shares and Keith Schembri, the prime minister’s personal assistant, who owns one million, one hundred and fifteen thousand, two hundred and seventy nine shares (1,115,279). All shares have a nominal value of one euro each and are 100% paid up.
In other words, Keith Schembri’s capital shareholding in his key company, Kasco Holdings, is worth upwards of Eur 1.12 million. And that’s just on paper. Literally, given that they sell such a lot of it.
The following screen-shots are the company details for Kasco TRADING, not Kasco Holdings. Kasco Trading is the company which won this government’s first two tenders for the supply of paper.
Keith Schembri, the millionaire businessman who is the prime minister’s personal assistant and ‘chief of staff’
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Has Tax Compliance Unit worked out his capital accretion over the past years; ie his personal income as opposed to increases in capital
And yet those Nationalist dimwits at Net TV go on about “kumpanija qrib Keith Schembri”. Because 99.999820673 per cent ownership does not make it “ta’ Keith Schembri”.
I’m off to slit my wrist.
Welcome back. There are more dimwits out there who seem to think that a “tax audit” can only be conducted if requested by the auditee, whilst in fact the Commissioner may choose to audit or investigate anyone he so wishes.
What I always ask my staunch Labour friends/colleagues whenever they pull out the “Austin Gatt’s Swiss bank account” card, is, why the hell hasn’t he yet been investigated by the commissioner of inland revenue?
Baxxter’s comment is from 2014.
ara vera ahna il-maltin niqodu al killex…..
Beyond obscene.
Can someone download a copy of the accounts from the MFSA?
I thought that the previous PN general secretary was not up to standard – but I feel that I was wrong. There is something radically wrong with the PN and I think that something URGENTLY should be done to correct this BAD way of answering the Labour obscenities
Keith Schembri’s appointment was suspicious from the outset. There was no explanation for it and nobody understood it. What a difference though, between suspicions and facts. There is not a single doubt now in everybody’s mind what the road map was all about and what went on in the so called ir-raba sular. Who had said then: Gass down gol-hajt – Simon?
Isn’t it obvious? Keith Schembri would be trying to promote his businesses by political as well as by commercial means with the aid of accomplices.