Konrad Mizzi says: “TRUST me.”

It’s not the New Zealand trust you need to be looking at. It’s the Panama-incorporated company which the trust holds. The trust is just a holding vehicle for that company, set up for the sole purpose of making the trust beneficiaries (Mrs Mizzi and their children) the ultimate beneficiaries of the Panama company.

Konrad Mizzi calls this “managing our family assets efficiently”. The rest of us call it corruption, money-laundering and clear evidence of bad faith by the person closest to the Prime Minister.

So much for all those ‘know your client’ forms which financial services advisers are obliged to fill in by law. Did Brian Tonna at Nexia BT fill them in for his clients Konrad Mizzi and Sai Mizzi Liang, testifying that he knows the source of the assets to be held by the structure he set up for them in Panama and New Zealand?

Disgraceful.