Oil trader in 2011 tax fraud investigation
The Finance Ministry was tipped off in 2011 that rogue oil trader George Farrugia was committing serious tax fraud, an investigation was launch but it remains ongoing, The Sunday Times reveals today.
Documented evidence had been passed on to the Finance Ministry in August 2011 indicating rampant tax fraud at Aikon Ltd, a company belonging to Mr Farrugia. The oil trader was given a Presidential Pardon to tell all on the bribery ring believed to be involved in the Enemalta oil procurement scandal.
A spokesman for the Finance Ministry confirmed the information and said an investigation into tax fraud had been launched immediately. Asked if there was any indication of corruption in the original tip off, the spokesman said the information was about under declaration of turnover.
Read the full story with more details on a 2010 audit investigation in The Sunday Times.