Keith Schembri, of all people, is calling others fraudsters

It is unbearable having to watch Keith Schembri, whose complicated tangle of offshore companies and bank accounts in secretive jurisdictions were set up to defraud the Maltese authorities and possibly even his business associates, calling others, like the Pilatus Bank whistleblower and even me, “fraudsters”.

He is a major fraudster with hundreds of thousands of euros swimming around in foreign bank accounts that were not declared to the Maltese authorities, and yet he has the gall to insult others.

Not only is he a major fraudster, but he’s also closely connected to one of the biggest fraudsters Malta has ever seen in recent history: Ryan Schembri, who defrauded people whose capital he took out of tens of millions, yes millions, of euros. Their fathers are brothers.

The people who gave Schembri money for investment cannot go to the police because the money they gave him was in the main undeclared cash and they were hoping to make a quick big buck as he promised them in a classic scam. Schembri also defrauded legitimate creditors, including all the importers who supplied his chain of More Supermarkets, out of what he owed them. He took their products and then, when it all collapsed, he did a midnight runner and disappeared around three years ago.

He has not returned to Malta since, and it is thought that he is living in Dubai.

Keith Schembri has the gall to call innocent others fraudsters, when his cousin Ryan Schembri defrauded people out of millions of euros and did a midnight runner, never to return, and is now thought to be lying low in Dubai.