Mark Gaffarena has filed an injunction against the part-owners of the Valletta property at the centre of a political storm in an attempt to prevent them selling to the government – an action that would deprive him of a huge profit.

The injunction was filed on Wednesday against the Cefai family, owners of another part of the property in Old Mint Street, which is set to be expropriated by the government.

Two deals made with Mr Gaffarena so far have cost taxpayers at least €1.65 million for the expropriation of half the property. On the second sale, Mr Gaffarena made a profit of €685,000 a few weeks after buying a section of the property.

Mr Gaffarena has been signing promise of sale agreements with the rest of the
property owners in the knowledge that the government intends to expropriate the additional parts from him for a much higher price.

The other owners of the property only learnt of Mr Gaffarena’s deals when The Sunday Times of Malta revealed the first two expropriations. When Mr Gaffarena summoned the owners on one of the promise of sale agreements – for €139,762 – to close the sale last Monday, they did not turn up.

The owner of another quarter of the property, Tonio Mercieca sold his share to
Mr Gaffarena for the same amount last February. He learnt from this newspaper
the government decided to expropriate it a few weeks after it was sold.  

More in The Sunday Times of Malta.