Economy Minister Chris Cardona this afternoon challenged Opposition leader Simon Busuttil to take action against Tonio Fenech and Francis Zammit Dimech, saying that their involvement as “middlemen” in intermediary companies to set up Panama companies for their clients was wrong.

Speaking at a press conference, he said that according to the PN leader anyone who was remotely involved in such setups was also corrupt and would have to resign.

When it was pointed out to him that unlike Konrad Mizzi and Keith Schembri, no Nationalist MP owned a secret company in tax havens like Panama and the British Virgin Islands, Dr Cardona said that he was basing his judgment on Dr Busuttil’s standards.  

The Economy Minister gave his comments following a press briefing given by the PN leader two hours earlier.

Dr Cardona accused the Opposition leader of double standards, pointing out that Dr Busuttil had once described such companies as a means to hide large sums of money.  

Who are the ultimate beneficiaries of these companies, he asked. Were these beneficiaries involved in the PN loan scheme (skema ċedoli)? Was  Dr Busuttil aware that both Mr Fenech and Dr Zammit Dimech had an involvement in the setting up of companies in the British Virgin Islands for their clients?

Dr Cardona also referred to EMD Advisory Services Limited saying the company in which Richard Cachia Caruana was a “senior consultant” had been involved in the setting up of 72 companies listed in the Panama Papers

“So we also have Panama buddies on the PN side,” Dr Cardona remarked.

Asked about the fact that Konrad Mizzi and Keith Schembri were much more involved as they had a company of their own, Dr Cardona  admitted that their decision was “politically insensitive but not illegal”. 

He added that he had no difficulty in working alongside Dr Mizzi, if he were to be elected party deputy leader. 

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