“Shocked” Tumas Group “distances itself” from Yorgen Fenech

Yorgen Fenech of the Tumas Group talks with VIP guests during the opening of the Oracle Casino in St Paul's Bay, Malta, June 4, 2014. Picture taken June 4, 2014. Jeremy Wonnacott/Malta Government Department of Information/Handout via REUTERS

Tista' taqra bil- Malti.

A “shocked and deeply saddened” Tumas Group at the allegations concerning Yorgen Fenech, disassociated itself from its former CEO saying that the allegations against him are foreign to the values of the group.

The statement by the Group coincided with the continuous falling in value of the bonds issued by Tumas Investments PLC.

The Tumas Group statement signed by group chairman and chief executive officer, Raymond Fenech said that” 

“Deeply saddened”

“The Tumas Group dissociates itself from any actions which are in any manner contrary to law and from any and all individuals who are alleged or proven to be involved in any unlawful actions in connection with recently unfolding events. The group, its management and all of its employees are shocked and deeply saddened by the allegations concerning Mr Fenech.”

Yorgen Fenech who has been arrested as part of police investigation into the murder of Daphne Caruana Galizia has asked for a presidential pardon. His request is still pending.

The Group’s statement went out of its way to calm the market which was reacting negatively to the bonds issued by Tumas Investments Plc. In its statement the Group reiterated that it has always conducted its  “affairs to the highest standards, with priority to the interests of the Group generally and its outside stakeholders and partners as distinct from the interests of its shareholders, and that, accordingly, all efforts will continue to be directed towards safeguarding and upholding the Tumas Group’s long-standing reputation.”