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MALTATODAY 2 October 2022

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8 NEWS maltatoday | SUNDAY • 2 OCTOBER 2022 MALTA GOVERNMENT STOCK FOR SAFE INVESTMENT AND LIQUIDITY WITH INTEREST PAID UP TO THE DAY OF RE-SALE OF STOCK SECURITY CONTINUOUS LIQUIDITY INTEREST EVERY SIX MONTHS (The value of the investment may go up or down during the tenor of the Stock.) Treasury Department, Development House, Level 2-3, St. Anne Street – Floriana, Malta Tel: 2596 7125 Secure Investment Issue of €200,000,000 in Fixed Rate Malta Government Stocks (subject to the over-allotment option up to a maximum of €100,000,000) MALTA GOVERNMENT STOCKS STOCK TAL-GVERN ________ The price for each Stock at (i) and (ii), offered for subscription by members of the public shall be established on Thursday, 6 th October 2022, based indicatively on the prevailing secondary market prices, and shall be announced through a Press Release issued by the Department of Information (DOI). (i) 3.40% Malta Government Stock (Sixth Issue) maturing in 2027, and (ii) 4.00% Malta Government Stock (Seventh Issue) maturing in 2032. Fixed Rate Malta Government Stocks Applications from members of the public for an amount up to a maximum of €100,000 per person in any one or in each of the two stocks on offer open on Monday 10 th October 2022 at 8.30 a.m. and close at 2.30 p.m. on Wednesday 12 th October 2022. Applications from wholesale investors in the form of sealed bids (auction) open at 8.30 a.m. on Friday 14 th October 2022 and close on the same day at noon (CET), or earlier at the discretion of the Accountant General. The application forms may be obtained from, and lodged at, all Members of the Malta Stock Exchange and other authorized Investment Service Providers on the indicated dates. Application forms may also be downloaded from the Treasury's website at with effect from Friday, 7 th October 2022. Bids on the prescribed forms are to be transmitted by e-mail at the e-mail addresses indicated on the application forms. The Accountant General announces the issue of €200,000,000 Malta Government Stock in either or each of the following two stocks: The sum of money to be raised may be increased by an additional €100,000,000 in the event of oversubscription. MATTHEW VELLA THE gaming consultant Iosif Galea, arrested in Italy on the strength of a German arrest warrant, has been sentenced to two and a half years in prison by a German court for tax evasion. As director of Tipbet Limited, Galea was found guilty in Frankfurt of evading €1.7 million in taxes over between 2017 and 2019, which were owed to the German state. Tipbet is owned by a Turkish national but is registered as a Maltese company. Galea was arrested in Italy after landing in the country for a three- day holiday to join his partner and her employer, Michelle Muscat, to- gether with husband Joseph Muscat – the former prime minister, earlier this year. Galea had been granted police bail in Malta to take leave for his short holiday. He was being investigated in connection with trading in in- fluence charges against a top Malta Gaming Authority official. But police failed to carry out rele- vant checks on Galea before grant- ing him discretionary leave: it turns out that he had been the subject of a German-issued European Arrest Warrant. In an internal police complaint filed by the Commissioner of Police Angelo Gafà, who had investigated Galea in connection with the Dalli- gate scandal of 2012, it was revealed that three German requests to the Maltese police had been ignored. The first request was sent in late 2021. By the time Galea was placed on police bail over the MGA in- vestigation, and then granted leave to travel in June, it turned out that three reminders from the Germans had been ignored by the Maltese po- lice liaison officer for EAWs. Galea was handed over to the Ger- man authorities by the Italian police after being arrested upon arrival in Italy. Galea has asked the German authorities to allow him to serve his prison sentence in Malta. Iosif Galea was already investigat- ed back in 2012 as part of the Mal- tese Dalligate investigation, in which former EU Commissioner John Dalli was suspected of having com- municated with a canvasser, Silvio Zammit, on the prospect of a mul- ti-million bribe related to smokeless tobacco legislation. Galea was then identified as a friend of both Dalli and Zammit, as well as of lobbyist Gayle Kimberley, also implicated in the OLAF investigation carried out in Brussels. Jail for Iosif Galea in German tax evasion case Gaming consultant Iosiof Galea sentenced to two and a half years in prison over €1.7 million tax evasion

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