Ryan SchembriA leading meat importer vanished from the country with his family after loan sharks threatened to harm his son but he is also being sought by police after running into serious financial problems with investors and suppliers.
Co-owner and director of Cassar and Schembri (Marketing) Ltd, Ryan Schembri, attracted entrepreneurs to invest millions of euros in an ambitious import-export operation by promising high returns on investment.
When he faced difficulties repaying the investors, sources told Times of Malta, he appears to have turned to loan sharks who recently started to threaten him, claiming his son would be harmed if he failed to pay.
Police are investigating the case and are looking for Mr Schembri. Local entrepreneurs say he owes different investors a total of some €40 million.
Mr Schembri left Malta with his wife and son in late September. Sources said he probably absconded to Sicily during the weekend when the country was celebrating its 50 years of independence.
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