A firm at the centre of money-laundering accusations involving murder suspect Yorgen Fenech and the Labour Party is in the process of being liquidated.

Corporate filings show the process to shutter B.E.D Limited began just days before Times of Malta outed plans for Fenech to pay the Labour-linked company €6,000 monthly ostensibly for “consultancy services”.

The consultancy agreement drafted in 2016 was sent to Fenech that same year by then Labour CEO Gino Cauchi.

Times of Malta’s findings, published last September, led the opposition to demand a police investigation and accuse Labour of being involved in money laundering.

The PN said the governing party had designed a system to receive up to €200,000 from Fenech, “after giving him a power station in a corrupt deal that leaves consumers worse off”.

In an apparent breach of auditing standards and ethics, B.E.D’s owner, accountant Robert Borg, signed off on ‘independent’ audits of his own company.

Soon after Times of Malta had contacted Borg in May 2021, B.E.D Limited submitted “re-audited accounts” for 2017, carried out by a different auditor.

In now transpires that Borg also set about dissolving the company after facing questions about its links to Fenech and Labour.

Borg himself is known to be close to the Labour government, having been one of three men entrusted with the ill-fated decision to choose the inexperienced Vitals Global Healthcare as the preferred bidder to run three public hospitals.

Corporate documents filed with the Malta Business Registry this month show the process to dissolve and wind up B.E.D Limited began last August.

B.E.D Limited’s marketing material shows the company name is an abbreviation of Brand Expo Design. In December 2020, a new company going by the name Brand Expo Design was set up by ONE Productions.

According to the business registry, the company is still active.

Its directors include ONE chairman Jason Micallef and newly elected MP Alison Zerafa Civelli.

Civelli is Prime Minister Robert Abela’s sister-in-law.

Abela was evasive when questioned last September about B.E.D Limited’s dealings with Fenech.

“That is an allegation made by the Times, so feel free to hand over any information you have. It is something which happened before January 2020 [when Abela became PM],” Abela had said.

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