Government partnered with criminal banks to carry out Electrogas project, Jason Azzopardi says

Nationalist MP Jason Azzopardi says government resorted to agreements with banks who have a global ‘criminal record’ in order for the Electrogas project to be financed

The government resorted to partnerships with criminal banks in order to carry out the Electrogas project Jason Azzopardi said on Tuesday.  

The Nationalist MP was referring to BNP Paribas, one of the banks that loaned money to Malta gas power project carried out by Electrogas.

Last October, the French prosecutor was asked to investigate four French banks and an investment fund for complicity in corruption over a loan given to Electrogas. The complaint is targeted against BNP Paribas, Société Générale, Natixis, CIC and Rivage Investment.

The complaint was filed by the Daphne Caruana Galizia Foundation and Sherpa, an association with a mission to fight impunity linked to globalisation.

Azzopardi cited a number of articles showcasing the bank’s “criminal record” around the world. The cases referred to the conspiracy and aiding of human rights violations, terrorism and the breach of United States financial regulation among others.

“They had to collaborate with a bank which finances Hamas terrorism and genocide in Sudan,” Azzopardi said. “That is why we are paying €40 million every year.”

He said BNP Paribas officials were ordered three times to appear in court, but failed to do so.

“What are Maltese authorities and the police doing to bring these people to Malta, so that they can be investigated for corruption and money laundering?” he said.

The MP also mentioned Pilatus Bank in his parliamentary speech, after it was revealed that the magisterial inquiry into the bank cost €7.5 million.

“This is the price we are paying for this government’s wrongdoing,” he said. “After they took millions, we had to pay €7.5 million from our pockets so that their crime can be uncovered.”