Konrad Mizzi and Keith Schembri tried to open accounts with Swiss bank BSI’s Panama subsidiary last December, according to the Panama Papers.

The pair wanted the bank accounts for their secret Panama companies, which were sheltered by trusts in New Zealand. E-mails leaked from the Panama law firm Mossack Fonseca show that Dr Mizzi and Mr Schembri were informed by their local intermediary, Nexia BT, of several attempts to set up bank accounts for their Panama companies all over the world.

The Panama Papers were made available to the Times of Malta through an investigative partnership with the International Consortium of Investigative Journalists and German newspaper Süddeutsche Zeitung.

In one e-mail last September, Karl Cini, of Nexia BT, told Mossack Fonseca he had forwarded information to his clients about two of the banks they were trying to open accounts with.

In another e-mail sent by Nexia BT last November, Mr Cini said he had spoken to his clients, who, he noted, wanted to check about opening accounts with BSI in Panama. “They are asking re the usd 1m[illion] deposit. Is this for initial deposit only? is there a minimum they need to keep as running/average balance?” he asked in the e-mail dated November 26, 2015.

An internal Mossack Fonseca e-mail said that BSI Panama would accept an initial deposit of $100,000. It noted the account would be closed by the bank if significantly less than $800,000 went into the account throughout the year. At this point, several other banks around the world had already refused to open accounts for Dr Mizzi and Mr Schembri due to their status as politically exposed persons.

On December 2, Mr Cini gave the go-ahead to Mossack Fonseca to open the bank accounts for “those two Panama companies”.

Mr Schembri and Dr Mizzi last month both denied that the Nexia BT emails referred to them. However, the company codes quoted in the e-mail’s subject line match Mossack Fonseca’s codes for Mr Schembri and Dr Mizzi’s Panama companies.

An internal Mossack Fonseca e-mail the following day indicated that Mr Cini had asked for the documents that the final beneficiary must fill and sign to be mailed to him. On December 10, Mossack Fonseca asked Mr Cini for the necessary details to proceed with opening the accounts, though five days later a snag was encountered. “We were told by one of our contacts that the BSI Bank was recently sold to a Colombian bank. Rules are changing and we were told that if the clients are not applying to [sic] immigration visas in Panama they won’t open the account.

“I am double checking about this, so it is not negative at all. But, at the same time, on Friday last week I called two other banks and asked them for opening bank accounts for PEPs.

“They want me to send the info about the clients in order to run a quick pre-check and let us know if they will be in a position of opening the bank account.

“If you authorise me, I could send the info they are requesting. But, talking with Juan Carlos today, he told me that for this quick pre-check, the banks will need the info he asks in the e-mail below,” Mossack Fonseca informed Mr Cini.

The final leaked e-mail, dated December 15, showed Mr Cini was still hopeful about opening the accounts with BSI bank for his clients. “I am collating the info requested by [Mossack Fonseca employee] Juan Carlos.

“In the meantime, please confirm that BSI Bank (in whatever capacity they are now) have not closed any doors and are still open for business for the mentioned clients,” Mr Cini told Mossack Fonseca.

The trail goes cold from there.

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