Ridiculous and deplorable – Casa to Pilatus Bank

“Ridiculous and deplorable” is how David Casa, the Head of the PN delegation at the European Parliament described yesterday’s statement by Pilatus Bank. He said that it is not true that Pilatus Bank by “the part-published” Magisterial inquiry on Egrant. Casa published the statement as a post on his Facebook page.

Casa said that Pilatus Bank is “the bank that, according to the FIAU, laundered money for Keith Schembri. It remains the bank that laundered money for the Azeri dictatorship, and whose owner is facing a 125-year prison term.”

The Nationalist MEP said that Pilatus Bank’s presence in Malta constituted a threat to Malta’s financial services industry as it brought illicit funds to Malta and possibly the criminals that used them. He reminded readers of his his constant strivings to urge several authorities in Malta and the EU to take action against Pilatus Bank.

Casa after describing the owner of Pilatus Bank as “a sloppy money launderer, with an apparent history of money laundering” said that according to prosecutors in the United States the bank “was set up with the proceeds of crime.”

He concluded that “The brazen, unashamed manner in which Pilatus Bank is attempting to latch onto the results of the part-published inquiry is nothing short of an attempt to pervert and obstruct justice.”

In June, the Malta Financial Service Authorities recommended the European Central Bank to withdraw Pilatus Bank’s licence.

The European Banking Authority also criticised the FIAU of not investigating Pilatus Bank in a proper manner. It had also issued 8 recommendations to the FIAU, while urging the same agency to take the necessary steps to comply with the anti-money laundering and anti-terrorist financing.