BTI Management Ltd funnelled nearly €600,000 through a client account opened by Brian Tonna and Karl Cini for Katrin Bondin Carter, a court has heard
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.
A Malta Enterprise official responsible for handling funding applications saw no fraud by Progress Press in an application that led to money laundering charges against the company, he told a court on Wednesday.
George Francalanza made the statement while testifying in the compilation of evidence against Keith Schembri and his business associates, who stand accused of corruption, money laundering and other charges. They are pleading not guilty.
Francalanza was the officer who recommended approving the Progress Press funding application and in an internal Malta Enterprise report wrote that if the agency were to “close both eyes and stretch the imagination” then full funding should be applied, a court heard.
Keith Schembri is being treated at hospital for a serious condition and failed to attend his court hearing on Tuesday.
The court was reconvening to hear charges of money laundering and fraud against the former chief of staff at the Office of the Prime Minister.
His lawyer Edward Gatt broke the health update to reporters outside court on Tuesday morning.
Gatt said Schembri was receiving treatment at Mater Dei Hospital and appealed to everyone to treat the former chief of staff as well as his loved ones with dignity during these difficult times .
Upon leaving court later, the lawyer said Schembri was receiving treatment for a serious condition .