Tumas Group disassociates itself from money laundering allegations

The Tumas Group, a group of businesses owned by the Fenech family, have disassociated themselves from the scandals surrounding Yorgen Fenech, who stands accused of the murder of journalist Daphne Caruana Galizia and money laundering amongst other offences.

In a statement issued this afternoon by Executive Chairman and CEO Raymond Fenech, the Group expressed its “disappointment with and disassociation from other allegations” made with respect to Yorgen Fenech. Raymond Fenech is Yorgen Fenech's uncle.

The money laundering case makes reference to the operations of an associated company, Glimmer Limited, in relation to a bonus account of €26,000. This bonus award was picked up by the company’s compliance systems and the bonus amount immediately frozen and rendered inoperative.

It was also subsequently examined by the internal audit department, said the Group, pointing out that Glimmer’s online gaming operations had been discontinued and that it had voluntarily surrendered its gaming licence in October 2019.

In denied any knowledge of other alleged illicit transfers of cash between some of the individuals being charged by the police.

It also stated that the arranged payment of a jackpot in favour of pre-designated individuals was “not possible,” but said it was “nevertheless taking the allegation extremely seriously.”

Tumas Group announced that internal investigations would be conducted into the allegation, adding that it had asked the Malta Gaming Authority to conduct independent enquiries to evaluate the controls used by the casinos in the area.

With regards Anthony Farrugia and Patrick Demanuele, Fenech said that the court allegations inferred “behaviour that is contrary to their obligations towards the Tumas Group.”

Farrugia’s employment ceased on 31 March 2020, while Demanuele had offered his resignation and this had been accepted in the light of the recent court revelations.

Farrugia and Demanuele were arraigned in court on the same day and on similar charges to Yorgen Fenech, who was charged with money laundering and the misappropriation of funds from Glimmer Ltd on 30 August.

Fenech is also the subject of separate ongoing proceedings in which he is accused of masterminding the murder of journalist Daphne Caruana Galizia.

He remains on remand in Corradino Correctional Facility.