[WATCH] Carmelo Abela denies involvement in HSBC heist: 'No reason to resign, I did nothing wrong'

Carmelo Abela has denied any involvement in the failed heist on HSBC Bank headquarters in 2010 after a convicted murder claimed he was one of the masterminds.

The Labour MP insisted he had no involvement whatsoever in the heist, insisting the court testimony heard today did not even suggest how he may have been allegedly involved.

Daphne Caruana Galizia convicted murderer George Degiorgio testified in court today during libel proceedings that Abela opened against former Nationalist MP Jason Azzopardi, who first made the claims a couple of years ago.

"From the first time that my name was dragged into this affair, I have vehemently denied any association, directly or indirectly. It is simply not the case,” Abela told MaltaToday just before entering parliament on Thursday. He insisted that he had filed libel proceedings against Jason Azzopardi because the claims were a "lie".

When pressed on whether he would consider resigning from the PL parliamentary group in light of the allegations made under oath, Abela insisted there was no reason for him step down since he did nothing wrong.

"I stayed on as a minister after 2010, there was no reason for me not to, and I was elected again on the Third District in the last election," he said.

"Whoever fabricated this falsehood," Abela added with reference to former Nationalist MP Jason Azzopardi, "has been discredited by his own constituents and I believe that speaks volumes about the credibility of these accusations."

READ MORE: In court, Degiorgio brothers accuse Abela and Cardona of being involved in HSBC heist