Malta v. Yorgen Fenech, Joseph Cachia money laundering

[conflict]

A magistrates’ court has found there is sufficient evidence for Yorgen Fenech to be indicted over money laundering and fraud to the detriment of Glimmer Ltd, a company he partly owned.

Magistrate Donatella Frendo Dimech decreed there was a ‘case to answer’ on Tuesday morning – a day after the defence raised doubts over the prosecution’s case against the businessman.

Nicholas Cachia, 46 alongside his father Joseph Cachia, 67, also implicated in the alleged “system” to launder company funds through fictitious wagers, were likewise declared to have a case to answer.

Fenech stands accused of committing acts of money laundering between April and October 2019 by converting or transferring property known to have been derived from criminal activity.

The former Tumas businessman is further accused of acting as an accomplice under money laundering laws, misappropriation and fraud to the detriment of Glimmer Ltd, which he co-owns with his uncle, Ray.

€45,000 fraud

In the lengthy first sitting of the case on Monday, the court heard police testimony based on WhatsApp chats extracted from the businessman’s mobile phone, allegedly linking him and four other associates to the €45,000 fraud.

After the court repeatedly asked the prosecution to explain the evidence of the alleged underlying criminal activity behind the money-laundering charges, inspector Brian Camilleri identified it as fraud and misappropriation against Glimmer Ltd.

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