Montenegro Scandal: An investigation was already underway – Police

Tista' taqra bil- Malti.

The Police had already started investigating the purchase of a wind farm in Montenegro by Enemalta, before the story hit the headlines on Friday.

In a brief statement on Saturday afternoon, the Police said that prior to the allegations, the issue was already subject of a police investigation.

Local police are collaborating with Europol and are being assisted by other competent authorities.

On Friday, Times of Malta and Reuters revealed how murder suspect Yorgen Fenech made €4.6 million through his Dubai-based company 17 Black when Enemalta bought a wind farm site in Montenegro.

The investigation showed that a company called Cifidex received a transfer of Euro 3 million from Fenech’s secret company 17 Black. Cifidex then used this money to buy shares from Fersa Renovables, a Spanish consortium that had been given the concession to run the wind farm by the Montenegro government in 2010. A few days later EneMalta bought the same shares for trice the price – Euro 10.3 million – a few days later. By June 2016, Cifidex had sent back to 17 Black the original €3 million along with an additional “profit” of at least €4.6 million, three sources with access to 17 Black’s banking records in Dubai have confirmed.