Comments on: Keith Schembri would put $600,000 a year in secret account, bank told

By: Daphne Caruana Galizia

Daphne Caruana Galizia — Fri, 27 May 2016 09:34:00 +0000

I haven’t understood the question.

By: Albert Beliard

Albert Beliard — Fri, 27 May 2016 09:20:00 +0000

In reply to Daphne Caruana Galizia. Exactly! These crooks are trying to classify everything under a 'tax' matter when in fact they are involved in money laundering.

By: Daphne Caruana Galizia

Daphne Caruana Galizia — Fri, 27 May 2016 07:01:00 +0000

The tax is the least of it, sir. It’s the source of income you’ve got to be looking at.

By: Daphne Caruana Galizia

Daphne Caruana Galizia — Fri, 27 May 2016 06:59:00 +0000

This is part of the cycle in which companies in the web invoice each other so the trail of funds is lost. Company X in the BVI raises an invoice for $100,000. Company Y in Panama pays it and company X banks the money in Dubai. Then company Z in Gibraltar raises an invoice for $50,000, company X in the BVI pays it and company Z in Gibraltar banks the money in the Cayman Islands. Company Q in Cyprus then raises an invoice for $25,000, company Z in Gibraltar pays it, and company Q banks the money at BSI Bank in Panama.

By: La Redoute

La Redoute — Fri, 27 May 2016 06:47:00 +0000

“The main source of income will be in the form of consultancy services to various entities around the world”

What consultancy services? Schembri is supposed to have divested himself of his business interests.

It would be bad enough if he were laundering his own illicit money, but it sounds more and more like the Prime Minister’s chief of staff and senior minister are running a money laundering service from the prime minister’s office.