Alternattiva Demokratika has called on the chairman of Bank of Valletta to assume responsibility for the bank’s mishandling of the failed multi-property fund.
Chairman Roderick Chalmers and other officials directly involved in the botched La Valette Multi Manager Property fund, for which the bank was fined €200,000 by the financial services regulator, should resign, AD said.
Finance Minister Tonio Fenech should also assume political responsibility, given the government’s shareholding in the bank and the fact that the bank’s chairman is a government appointee, the Green party added.
“People were misguided by BOV and the minister should have seen the writing on the wall and should assume political responsibility for this. The party demands full release of the government’s correspondence on the matter,” it added.