Nexia BT’s Individual Investor Program licence has been suspended. This comes only days after Brian Tonna and Karl Cini, partners of its parent company, Nexia BT, were interrogated by the police over money-laundering investigations.
In an announcement on its website, the the Malta Individual Investor Programme Agency said that it has suspended the licence of BT International Limited, holders of licence IIP 003, until further notice.
On Monday, Madam Justice Edwina Grima issued an order to freeze all assets held by disgraced former OPM Chief of Staff Keith Schembri, his family members, Nexia BT and its partners. The court concluded that there is reasonable suspicion that money laundering offences have been committed.
In 2017, the Government announced that Nexia BT was made the official sales agent for the Middle East citizenship programme.
Meanwhile in a video message, the PN leadership candidate Bernard Grech said that after the suspension hush-hush of Nexia BT’s licence – a scheme that has embarrassed the country notwithstanding the former PM Joseph Muscat’s efforts to promote it around the world – it was time to turn a new leaf and start a new economic page. He argued that this must be based on a genuine economic growth built on the creation of new sectors and job creations, which we can be proud of.
Grech that although the government is currently trying to ride on the recent developments, one must not forget that the same government up till recently was boasting about his connections with the ‘criminal clique’ that has taken over Castille.
” Everyone seems now hastily denying which up till yesterday they were boasting of,” Grech explained.
“That’s why the country needs a strong and credible opposition as too much damage has been caused to the country and there is a need for a serious, clean and responsible leadership,” he said.