In the Press: The Panamanian plot thickens

Stories from today’s national press

The International Consortium of Investigative Journalists (ICIJ) published a second round of Panama Papers data yesterday evening. This new wave of data has linked Malta not just to the three owned by Konrad Mizzi, Keith Schembri and an unknown owner, but to 714 companies.

The Times of Malta reports that that these companies have been set up over the past four decades by the Panamanian law firm Mossack Fonseca, which specializes in offshore companies in tax havens. These offshore companies have legitimate uses and are completely legal if registered with the tax authorities, the newspaper says. It adds that no further politically exposed persons were on the new list. While the names do not include anyone currently involved in politics L-Orizzont emphasises a number of companies for which people affiliated with the Nationalist party have been linked to. Among the names there is Opposition deputy Francis Zammit Dimech who is a manager of an intermediary company of an offshore entity. The newspaper also mentions Richard Cachia Caruana who is a consultant of his sister’s company, EMD Advisory Service, which serves as an intermediary for 72 other companies. Ex Nationalist ambassador and opinionist Noel Scicluna Buttigieg is also a consultant for this company, the newspaper reports. Another company, Fenlex, is managed by Nationalist president Ann Fenech, is another intermediary for several companies.

In light of so many connections from Malta to the Panama leaks, In-Nazzjon prefers to focus on the politically exposed people involved. The newspaper confirms that Keith Schembri’s ,Konrad Mizzi’s and the third company wereopened in July 2013 days within each other. Tillgate belongs to Schembri and was opened on 15 July, and Hearnville is owned by Konrad Mizzi, and was opened on 9 July. The third company was opened on 8 July but information regarding the owner is still unknown. The three companies are connected by Nexia BT, managed by Brian Tonna, which is involved with 14 other companies.

The Malta Independent confirms that in total, the ICIJ has published data on 200, 000 entities around the world. The newspaper mentions former PN Minister Ninu Zammit, whose company Fiveolive Services Ltd in the British Virgin Islands was struck off in November 2015, after ICIJ revealed his secret Swiss bank amongst the Swiss Leaks.