Minister Chris Cardona and Parliamentary Secretary Roderick Galdes said during a press conference that Dr Busuttil failed to take action against former Ministers Tonio Fenech and Francis Zammit Dimech following the revelations in the Panama Papers, which they said show their involvement in companies registered in the British Virgin Islands, a place known for tax evasion and money laundering.
Minister Cardona also said that in the Panama Papers there is reference to the EMD company, which is an intermediary for 72 companies established in Panama. They said that this company belongs to the sister of Richard Cachia Caruana who is an adviser to the company. The Labour spokespersons said that the company, EMD Trust Services, is a shareholder in 12 companies in the British Virgin Islands.
Minister Cardona added that former Ministers Francis Zammit Dimech and Tonio Fenech are also implicated, and therefore they expected the Nationalist leader to take action against these persons after he himself had declared that whoever is involved in a way in these financial structures is corrupt and he dismisses them immediately.
The spokespersons said that with his own standards Dr Busuttil, to be taken seriously, should take action against deputies Tonio Fenech, Francis Zammit Dimech and other exponents of the Nationalist Party, including the President of the Nationalist Party Anne Fenech and former ambassador Noel Buttigieg Scicluna who is also involved in the Panama Papers.
Meanwhile, in a statement, Mr Cachia Caruana said that he never had a share in companies registered in Panama, the British Virgin Islands or in another tax haven. He added that he never gave advice on the opening of the companies in these countries. Mr Cachia Caruana said that his relation with the EMD company is strictly linked to giving advice on matters linked to the European Union and he never had any share or management position in this company.