Malta Enterprise official testifies in compilation of evidence against Adrian Hillman
A Malta Enterprise official testified on the Progres Press cash grant when the compilation of evidence against Adrian Hillman continued on Tuesday.
The former Allied Newspapers managing director stands charged with money laundering, conspiracy to commit a crime, defrauding Progress Press, making fraudulent gain, making a false declaration to a public authority and accepting bribes as a company director.
ME official Joseph Zammit spoke about the investment application filed by Progress Press to Malta Enterprise. He explained that Malta Enterprise offers several schemes to incentivise business investment.
This investment aid often takes the form of cash grants or tax credits. Applicants have to present invoices before receiving assistance.
Progress Press submitted an investment proposal in July 2013.
The company wanted to purchase three printing machines, with the entire investment valued at around €5.5 million.
The proposal was signed by Adrian Hillman and Michel Rizzo.
Zammit said the recommended cash grant initially amounted to €1.9 million.
ME had initially offered a cash grant and an interest rate subsidy but the company chose not to take the interest subsidy since it was not going to take out a loan for the investment.
Engineers had gone on site to verify that the relevant machinery was purchased and installed.
Progress Press had purchased the equipment from Kasco, and ME also spoke to the latter company to make sure that the payments had gone through it.
The bulk of the cash grant payments were distributed between 2014 and 2015. However, the final payment was issued in 2019.
The final value of all payments totalled €1.5 million.
The compilation is being heard by Magistrate Donatella Frendo Dimech.
Lawyers Mark Refalo, Stefano Filletti and Nicole Galea are appearing for Hillman.
Inspector Joseph Xerri is prosecuting. He is assisted by lawyers Antoine Agius Bonnici, Andrea Zammit and Sean Xerri DeCaro from the Attorney General’s office.