Lovin Malta founder disposes of shares, passport agent Luke Frendo is new partner

Lovin Malta founder Chris Peregin has disposed of his shareholding in the online news and entertainment website he founded, with the introduction of lawyer Luke Frendo as the company’s new shareholder. 

Peregin – who left Lovin Malta to join the Nationalist Party as its head of strategy up until the 2022 election – disposed of his shareholding through partitions among long-time partner David Grech (60%), chief operating officer Bettina Falzon, and lawyer Luke Frendo (20% each). 

Frendo is the son of former Speaker and Nationalist minister Michael Frendo, and is a partner at Frendo Advisory, an immigration advisory firm that offers investment networking services. 

Frendo started his career with Deutsche Bank, in London, and formerly sat on the board of Magic Labs, owners of social media platforms Badoo and Bumble. 

Frendo runs Frendo Advisory’s private client team for high-net worth individuals and families from the Middle East and Asia. He earned the “Best in Breed” accolade in the 2021 Spears 500 list – the ‘bible of high-net-worth advisors’. 

MaltaToday had previously reported on Frendo being a corporate services provider to a business director connected to Azerbaijani oligarchs with Pilatus Bank accounts. 

MaltaToday listed 18 companies in which Robert Baker was listed as the director, including companies whose ultimate beneficial owners were Tale and Nijat Heydarov, sons of the all-powerful Azerbaijani minister for emergency situations Kamaladdin Heydarov. 

All 18 companies were opened between July 2014 and December 2015 by Frendo Advisory. Frendo, an IIP agent in his own right, acted as company secretary for the companies before resigning from them en masse in late April 2017 when negative press hit Pilatus Bank.