Tumas Group distances itself from ex-CEO Yorgen Fenech's money laundering case
Tumas Group has sought to distance itself from a
money-laundering case against its former CEO Yorgen Fenech.
In a statement signed by Fenech’s uncle Ray, Tumas Group
said it wishes to dissociate itself from the wrongdoing alleged in the
money-laundering case, and repeat previous statements expressing its
“disappointment with and dissociation” from other allegations against Fenech.
A text from Fenech asking "how much did we
launder?" was among a raft of WhatsApp messages submitted as evidence
against him in the case.
Fenech is accused of fraud and attempting to launder a total
of €45,000 in a case involving four other alleged associates via a company
associated with Tumas Group.
The latest charges come on top of his prosecution for
alleged complicity in journalist Daphne Caruana Galizia’s murder, as well as
allegedly ordering an array of weapons online in November 2018.
Bonus account was frozen
Tumas Group said the alleged money laundering case makes
reference to the operations of an associated company, Glimmer Limited, in
relation to a bonus account of €26,000.
This bonus award was picked up by the company’s compliance
systems, and the account immediately frozen, Tumas Group said.
A subsequent internal audit was also carried out.
The online gaming operations of Glimmer Ltd were
discontinued and its gaming license voluntarily surrendered in October 2019,
the statement said.
Tumas Group said it has no knowledge of alleged transfers of
cash between the individuals charged by the police.
MGA called in
The group said that while it maintains the alleged
manipulation of jackpots within its casinos “would not be possible”, it is
nevertheless taking the allegations “extremely seriously”.
“Apart from the investigations on the matter that will be
conducted by management, the group yesterday contacted the Malta Gaming
Authority (MGA), with a view to conducting independent enquiries to evaluate
the controls enforced within the casinos in this area.”
Times of Malta has previously exposed how former MGA
officials Joe Cuschieri and Edwina Licari secretly helped Fenech write a letter
lobbying the authority to renew one of the Tumas casino licenses.
Although Cuschieri has since resigned from his post as CEO
of the Malta Financial Services Authority over a Las Vegas trip he took with
Fenech, no known action was taken by the financial regulator against Licari,
who holds the title of general counsel.
Tumas Group said in its statement that “court allegations”
against two of its former employees, Anthony Farrugia and Patrick Demanuele, go
against their obligations to the company.
The group said Farrugia’s employment with the group ceased
in March 2020, while Demanuele’s resignation was accepted in light of the
recent court case.
Times of Malta recently revealed how Fenech had sought
Demanuele’s help in gaining access to cash to top up what he referred to as a
“slush fund”.
Farrugia has, in turn, been implicated in supplying
cryptocurrency suspected to have been used by Fenech to carry out illicit
purchases online.
He has, however, not faced any charges in relation to
supplying the Bitcoins to Fenech.
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