The corrupt dealings of an Italian foundation that used Maltese companies to launder money must be investigated, the opposition said yesterday.
It is up to the Prime Minister’s son to say what his involvement is
A scandal involving the Maugeri Foundation has rocked Italy after it transpired the organisation was using companies set up in various countries to launder money under the guise of scientific research.
SIB Laboratories in Malta was one of these companies that also entered into collaboration agreements with the University of Malta, Malta Enterprise and the Malta Council for Science and Technology.
The scandal focuses on the transfer of €15 million to SIB Laboratories through Bank of Valletta. The money was supposed to have been used for research purposes but company accounts only show some €3 million that were invested in research initiatives, leaving serious question marks on what happened to the rest of the money.
The university and MCST last week severed their links with SIB Laboratories but yesterday the university still featured on SIB’s website.
The Labour Party’s education spokesman Evarist Bartolo yesterday urged the government to investigate the Malta link to the scandal and uphold the country’s reputation as a centre of financial services.
“The Malta Financial Services Authority should investigate the matter,” he said.
Of concern, Mr Bartolo added, was the involvement of the Prime Minister’s son, David Gonzi, as company secretary for SIB Ltd, the Maltese holding company of SIB Laboratories.
“It is up to the Prime Minister’s son to say what his involvement is, but there are sins of commission and sins of omission,” Mr Bartolo said when asked whether he believed Dr Gonzi was aware of what was happening.
In a statement yesterday, Dr David Gonzi reiterated he was not involved in the transactions of SIB Laboratories and had no knowledge of them.
He had only been engaged by a lawyer’s firm to provide his services to SIB Limited as company secretary, and he did not even have any direct relations with it.
“I had nothing to do with SIB Laboratories and categorically deny I knew of any illicit affairs,” he said.
The university issued a statement saying the only funds it received from the foundation or SIB were just over €11,000 related to research awards it set up with the two entities.
Its enquiries had revealed nothing irregular prior to signing the agreements, which it has since suspended pending further investigation.
The investigation in Italy is focussing on claims of money laundering, misuse of public funds and tax evasion by the foundation. Magistrates are also probing the involvement of leading politicians, including the president of the Lombardy region, Roberto Formigoni.
In Italy and elsewhere, Mr Bartolo said, companies such as SIB used individuals and associations to give them a veneer of credibility. “It seems the same technique was used in Malta as well,” he said.
ksansone@timesofmalta.com