Reuters and “The Times of Malta” report that 17 Black is owned by the entrepreneur Yorgen Fenech
According to a report that appeared in Reuters and “The Times of Malta”, the Maltese entrepreneur Yorgen Fenech is the owner of the company 17 Black in Dubai. According to the same report, Fenech has been identified by the Financial Intelligence Analysis Unit (FIAU). Yorgen Fenech is the CEO of the Tumas Group, a group that is involved in the Electrogas Power Station Project.
In joint investigations that followed up work during the last year by ‘The Daphne Project’, Reuters and “The Times of Malta” revealed that about seven months ago the Police Section that deals with economic criminality received a report from FIAU requesting investigations into money laundering.
17 Black has been mentioned in alleged corruption for some time after 18 months ago Daphne Caruana Galizia had reported that through the company had to pass transactions by the companies Tillgate and Hearnville, both registered in Panama under the names of Keith Schembri and Konrad Mizzi. Last April a report published by a German newspaper stated that 17 Black had received more than €1 million and these had to be passed on to Tillgate and Hearnville.
However, from the Reuters report it emerges that money did not pass to the two companies, neither Konrad Mizzi’s nor Keith Schembri’s. The same report states that Mizzi and Schembri stated they did not know about the connection of 17 Black to Yorgen Fenech.
Schembri had said that 17 Black and MacBridge were in the draft of a commercial business plan drawn up by his group. He said that companies in his group draw up many similar plans but that no transactions had ever taken place with these companies and he knew of transactio0ns as had been alleged.
Reuters said that Yorgen Fenech refused to comment whether he is the owner of 17 Black. He said that neither his companies nor he had ever had commercial transactions with politicians or individuals associated with politics.
The news agency Reuters quoted a United Arab Emirates official saying that his country’s financial authorities are examining the activities of 17 Black following a request made by Maltese authorities.