MEP David Casa has called on the European Banking Authority to expand its investigation into Nexia BT.

In a statement on Friday he said: “Action plans are not worth the paper they are printed on so long as Nexia BT continues to operate without consequence. It is Nexia BT’s continued operation that confirms the capture of the regulatory authorities and their serious and systemic dereliction of duty.”

After this week’s confirmation by the EBA that Malta’s FIAU has breached the anti-money laundering directive, Mr Casa has asked the authority to expand its ongoing investigation into the treatment of Nexia BT.

In his letter, MEP Casa stated that Nexia BT was at the centre of several cases of money laundering and corruption, involving also Pilatus Bank and top Maltese government officials. 

READ: The four-page FIAU report extract leaked last May

Mr Casa referred to the last leaked FIAU report calling for police action against Minister Konrad Mizzi.

He said: “The last leaked FIAU report calling for police action against Tourism Minister Konrad Mizzi was presented to the judiciary, following the inaction of Maltese authorities. The report details the process to create the money laundering structures and attempts to open bank accounts that were set to receive funds that could not be legitimately explained.

“The report also shows how the FIAU was misled by Nexia BT Karl Cini’s, who happens to be the designated money laundering reporting officer. It shows how documents were fabricated to support public statements made by politicians and how pertinent information was withheld from FIAU investigators. It is the FIAU itself that reached these conclusions, making their inaction all the more disturbing”.  

Mr Casa provided the EBA with a copy of the FIAU report.