UPDATED/Police report filed in 2006 against Central Bank Governor-designate Alfred Mifsud for taking cash bribes when Mid Med Bank chairman

Published: June 15, 2016 at 10:07am

In 2006 a report was filed with the police that Alfred Mifsud had received, in 1997/1998, very large cash payments at his home in Balzan from a well-known Maltese businessman whose company represented the US corporation which had just sold a new banking software system to Mid Med Bank. Mifsud was Mid Med Bank chairman from 1996 to 1998.

Since last year, Mifsud has been deputy governor of the Central Bank of Malta and is now Governor-designate, set to take the role of governor on 1 July when the incumbent’s term of office expires.

An eyewitness to at least three of the cash deliveries of Lm50,000 each (€350,000) gave a full and detailed statement to then Assistant Commissioner Michael Cassar in the presence of another police officer. The witness also said that when the Labour government lost the general election in late 1998 and Mifsud was removed as bank chairman by the new government, he was at the time owed a further Lm70,000 (€163,00) in cash payments by this same businessman, who then failed to pay them because Mifsud had lost his position at the bank.

This website knows the identity of the businessman in question, who is not being named for legal reasons.

The Police did not act on the formal report in 2006 and there is no indication that they called Mifsud in for questioning. Attempts to contact him this morning for his comments about the matter have so far been unsuccessful.


UPDATE/Alfred Mifsud subsequently sent me a text message saying: “I am in meetings all day and having filed libel I prefer to speak tru lawyers. I saw your latest post and have not heard of allegations be4 u published last Friday. If they were reported to police in 2006 I don’t know as I was never contacted but I repeat this is revenge trash from a bitter ex partner.”

I replied: “Thank you. The public is interested in the story itself and not in who revealed it or the motivation.”

Alfred Mifsud: “But you understand I am interested in who us lying about me and their motivations.”

My reply: “I have long experience in talking to sources and rest assured that I never take allegations at face value.”

Alfred Mifsud: “Well if it is true they were reported to police in 2006 they must have been less impressed than u. U presented your allegations as facts and we obviously have to deal with that in court as civilised individuals.”

My reply: “[Part of explanation redacted as it reveals identity of businessman who paid Mifsud cash] this made the story extremely awkward for me – so you will understand that I went to great pains not to go on mere accusations that may have had a questionable motive, but researched further.”

Alfred Mifsud, Central Bank Governor-Designate

Alfred Mifsud, Central Bank Governor-Designate