Keith Attard and Marvin Mc Kay have been fined €25 million after being found guilty of tax evasion and were condemned a 15-month jail term each suspended for three years.
Also, the court declared Attrad and Mc Kay guilty of fraud.
Attard, 55, director of the tobacco wholesale company, K&L Attard Co.Ltd and Mc Kay, 45, an employee, were found guilty of not paying tax and excise duty on tobacco products.
Another accused, Carmelo Attard former director of the company passed away while court proceedings were still pending.
The case dates back between March and December 2007. The court said that the excise duty and tax were not paid during that period of nine months.
Customs authorities had noticed irregularities when they noticed discrepancies between the amounts, the value declared and the actual amount paid.
Searches were also carried out at the company’s offices and in warehouses and it was confirmed that the stock was less than what they declared as purchased from local tobacco importers.
Police Assistant Commissioner Ian Abdilla led the prosecution.