Issue link: https://maltatoday.uberflip.com/i/1013924
3 maltatoday | SUNDAY • 12 AUGUST 2018 NEWS 45 62 25 78 10 56 64 16 11-08-2018 Draw No: 736 CONTINUED FROM PAGE 1 The MFSA's counsel op- posed the question, saying the information requested con- stituted an internal and confi- dential communication. "It is clear that the divulging of the information requested could hamper the investigation. Therefore such information cannot be divulged and the witness cannot be released from any professional secre- cy," the MFSA said. Pilatus Holding is complain- ing that putting banking vet- eran Lawrence Connell as controller was costing the bank "a potential USD600,000 (€523,000) per annum" in re- muneration fees alone, apart from the remuneration of ad- ditional staff and advisors en- gaged by Connell. "Whilst the MFSA is sup- porting its decision on the basis of public interest, the fi- nancial burden placed on the bank is unjustified since the competent person cannot run a business which has been ef- fectively subject to a cessation order by the MFSA itself, and disproportionate since it cre- ates a real risk that the bank's capital reserves will be eroded or consumed altogether by the remuneration." The shareholders are claim- ing that the bank is incur- ring expenses of $100,000 (€87,000) a month while it remains under the control of the competent person, and is demanding that its own rep- resentatives be allowed to minimise any costs and pre- serve the bank's assets. The hearings now continue in October. The bank closed down its London branch in April, but Pilatus also requested that the bank's premises at Whitehall Mansions have its lease ter- minated. The bank has already stated that the MFSA's decision to shut the bank down after the arrest of Ali Sadr Hashem- inejad is unfair over what, they insist, are "merely allega- tions… Such allegations have caused the MFSA serious concern and raised reason- able doubts about the integ- rity, propriety and suitability of Mr Sadr as a director and ultimate beneficial owner of the bank." Hasheminejad was arrested in February and was charged in a New York district court of having evaded US sanc- tions against Iran, to commit money laundering and bank fraud by funnelling over $115 million in payments for a Venezuelan housing complex through the US financial sys- tem for the benefit of his Ira- nian family's companies. The MFSA had said that in view of the criminal actions, this raised reasonable doubt about the integrity and suita- bility of Hasheminejad to ful- fil his duties and proceeded to appoint a competent person to take over the bank's opera- tions. Pilatus has already indi- cated it will hold the MFSA responsible for any damages it suffers. In a letter to MFSA director Marianne Scicluna, Pilatus chairman Helmut Bauer accused the regula- tor of discarding the funda- mental right of the presump- tion of innocence. "That the MFSA not only discards the presumption of innocence, but actually acts in such a dismal manner on its serious concern by appointing a com- petent person… is manifestly unfair… after from being ex- cessively intrusive and com- pletely disproportionate." In another letter to Law- rence Connell, Bauer had in- formed the MFSA's appointee that only three weeks after the MFSA measures had been taken against the bank "the value destruction is well ad- vanced. The damage done so far is significant. We remain convinced that this value de- struction would have been avoided if the MFSA had re- sponded to the arrest of Mr Sadr for allegations entirely unrelated to the bank in a more responsible and propor- tionate manner." Bauer also described the London branch of Pilatus bank as having had a "very comfortable capitalisation". In May, the New York south- ern district court granted bail to Hasheminejad, after law- yers presented an impressive $34 million bail package that included some 40 bonds from family, friends and colleagues worth $14 million apart from the Iranian's own wealth, property and investments, as well as restricted travel and electronic monitoring. Since the publication of the Egrant inquiry's conclusions, Pilatus Holding has also ac- cused its former employee Maria Efimova – who was sacked after three months and later charged by Maltese police of misappropriating funds from the bank – of be- ing a 'Russian informant' that fed misrepresentations to politically-motivated collabo- rators. Efimova was first held up as Daphne Caruana Galizia's primary source on the Egrant allegation, claiming the PM's wife was the owner of a secret Panamanian company and that ownership documents had been kept inside Pilatus Bank. But Efimova later denied be- ing Caruana Galizia's main source, and said she only con- firmed allegations that the journalist was already work- ing on. The Egrant inquiry's con- clusions said Efimova gave contradictory accounts that have discredited her status as a lauded whistleblower af- ter Magistrate Aaron Bugeja said the Egrant allegation was based on fabricated docu- ments. Pilatus Holding have ac- cused the MFSA of kneeing the Egrant allegation to be a fabrication, saying it inter- viewed bank officials with "pointed and incriminating questions". The MFSA is currently car- rying out an examination of every single transaction at Pi- latus Bank. Pilatus to hold MFSA responsible for damages YANNICK PACE FOUR white storks were shot down on Friday, shortly after arriving in Malta, BirdLife said. The NGO originally said on Facebook that an unidentified man had been spot- ted shooting three storks, which arrived in Malta along with 15 others. "Two of the three shot birds were col- lected, but when the hunter realised he was being watched, he left the third one behind," BirdLife's post read. It added that the police's Administra- tive Law Enforcement section were late to arrive on site, with the dead bird hav- ing to be collected by an inspector due to a "lack of available police". It said that the police from the Rabat district were monitoring some storks which had rested in the limits of Zeb- bug, Malta. BirdLife called on the public's watch- ful eye to inform the NGO, as well as the police, if they suspect any illegal hunting on protected birds. The Prime Minister must "get en- forcement in order" In a statement issued yesterday, the NGO stressed that the incident was not an isolated one, and showed the "ex- tent of widespread illegal hunting". "For years BirdLife Malta has called on the Prime Minister to set up a wildlife crime unit and it said that the reluctance to implement this was incomprehensible." The NGO said it was ironic that at the moment, the Wild Birds Regulation Unit and parliamentary secretary Clint Camilleri were proposing a change in the law on wild rabbit hunting, starting next June. "They want to allow hunting to be done wherever the hunter pleases rath- er than stating the exact private land on which the hunter will hunt," BirdLife said, adding that this would weaken the law. "It will allow it to be a stronger smokescreen than what it is presently." This wild rabbit season, the NGO said, would allow hunters to easily target protected birds, stressing that the Ornis committee should not allow the law to be amended and weakened. Furthermore, it said that in the coming weeks, hundreds of birds of prey would be migrating over Malta and once again the authorities would be asked to "get their act together". Killing of protected birds an inexcusable criminal act Kaċċaturi San Ubertu (KSU) said in a statement that "the killing of protected birds is inexcusable in civilised society and can only be termed as a criminal act". "Malta happens to have the harshest penalties for such crime and yet these acts occur sporadically notwithstanding the exemplary behaviour of the vast ma- jority of hunters," KSU said. "Such acts cast a bad light on all hunt- ers since a sector of those thriving from bird protection deceitfully depict apa- thy on the part of the authorities and anarchy and mayhem among the hunt- ing community in their bid to gain pub- lic support against hunting. " It said that reality and fact "prove ex- actly the opposite" and show that to- day's hunters are at the forefront of attempts to educate society about pro- tected species and environmental initia- tives aimed at "helping visiting birds". KSU said that the actions of "a few irresponsible criminals", who likely do not possess a hunting licence or li- censed shotgun, jeopardise "all the good done by hunters due to their despicable vandal acts". Furthermore it said that the govern- ment was holding out on enacting its electoral pledge to revise hunting pen- alties because of such illegal acts. "It would certainly help if all the hunting community would follow Kaccaturi San Ubertu's example and cooperate with the authorities to identify any perpetrators whose ac- tions mean nothing but damage to sustainable hunting no matter how this is being promoted." Hunters shoot down four white storks