A man allegedly involved in a €270,000 swindle to the detriment of a local jeweller over two years ago was remanded in custody upon his arraignment on Friday. 

Valentino Jovanovic, 29, a French national, was the second suspect to face charges over the suspected fraud after his alleged accomplice had been likewise been targeted by a European Arrest Warrant and brought to Malta in January 2021.

The suspected fraud was first flagged to police in September 2019 when a local jeweller claimed to have been handed counterfeit currency in exchange for gold.

The alleged victim had met the “client” at a Sliema hotel where the deal was struck.

But the jeweller had realised too late he had been handed fake notes for some €270,000 worth of gold allegedly handed over to the “client”.

The report had sparked intensive investigations which indicated that the suspect had left the country. 

In January 2021, 24-year-old Frenchman Brindo Jovanovic, whom the court was told was not related to Friday’s suspect, was brought to Malta to face charges over his alleged involvement in the fraud. 

Friday’s suspect was subsequently tracked down and a request to French authorities was issued for the man to be brought to Malta to face justice.

On Friday, the tall bearded man who had allegedly met the jeweller on the deal pleaded not guilty to promoting and playing a role in a criminal organisation, fraud, as well as making fraudulent gains.

The man, assisted by a French-speaking interpreter and a legal aid lawyer, pleaded not guilty.

Lawyer Franco Debono, appearing parte civile, informed the court that, to date, the alleged victims, who were present at Friday’s hearing, had still not been reimbursed for their loss. 

No request for bail was put forward at this stage and the court, presided over by magistrate Claire Stafrace Zammit, remanded the accused in custody.  

Inspectors Shaun Friggieri and Colin Sheldon prosecuted, assisted by AG lawyers Karl Muscat and Godwin Cini. Lawyer Daniel Attard was defence counsel. Lawyers Franco Debono and Marion Camilleri appeared parte civile.