Tumas Group distances itself from money laundering case, taking allegations ‘seriously’

The Tumas Group has disassociated itself from money laundering allegations involving its former director Yorgen Fenech.

In a statement, the Group said it wants to disassociate itself from the wrongdoing alleged in this case “and to repeat previous statements expressing its disappointment with and disassociation from other allegations made with respect to Mr Yorgen Fenech”.

Fenech stands charged with being a mastermind in the murder of journalist Daphne Caruana Galizia. He has also been charged with the online purchase of weapons and poison and, along with other individuals, with money laundering.

“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 bonus amount immediately frozen and rendered inoperative; this, apart from a subsequent examination by Internal Audit,” the company said.

Glimmer’s online gaming operations had been discontinued and it had voluntarily surrendered its gaming licence in October 2019, the statement continued.

The Group said it has no knowledge of other alleged illicit transfers of cash between some of the individuals charged by the police.

During the court proceedings, reference was made to the possibility of manipulation at one of the Group’s casinos, involving the arranged payment of a jackpot in favour of pre-designated individuals. It said that such a thing is not possible but is taking the allegations extremely seriously nonetheless.

It said that, apart from investigations being carried out by the management, it has contacted the Malta Gaming Authority with a view to conduct independent inquiries to evaluate the controls enforced at the casinos in this area.

With regards Anthony Farrugia and Patrick Demanuele, Fenech said that the court allegations inferred “behaviour that is contrary to their obligations towards the Tumas Group”.

Farrugia’s employment ceased on 31 March 2020, while Demanuele had offered his resignation and this had been accepted in the light of the recent court revelations.