At least €200,000 were channelled through Zenith Finance, formerly MFSP, from British Virgin Islands offshore firms owned by former OPM chief of staff Keith Schembri and Nexia BT s Brian Tonna, a court heard on Wednesday.
This detail emerged during court proceedings against former Zenith directors Matthew Pace and Lorraine Falzon who on Wednesday were back in court as the compilation of evidence against them and the company they represented, continued.
Both are pleading not guilty to a series of financial crimes, including money laundering and forgery of documents and have been granted bail pending proceedings.
A court-appointed accountancy expert tasked with administering and preserving the assets of Zenith Finance Limited, presented his findings on Wednesday, however, his overview was banned from publication in light of sensitive information it contained.
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