According to a joint journalistic investigation published by “L’Espresso” and the ‘Sunday Times of Malta’, an offshore company belonging to prime murder suspect and business tycoon, Yorgen Fenech, pass on millions to a corrupt Italian oil firm.
The published investigation reveals traces of monies going through the United Arab Emirates (UAE) to Malta with Italy and Azerbaijan being their final destinations.
The sum of € 2.5 million paid by Fenech’s offshore company based in the UAE, Wings Investment, went to the Italian oil traders at Napag Italia. This news opens a pandora’s box of secrets about the Maltese businessman’s affairs in the field of oil trading.
Documents seen by the joint-investigation showed how Wings Investment transferred € 1.3 million to Napag Italia in October 2017, with a balance of € 1.2 million paid to Napag a few months later through Noorbank.
Questions about Fenech’s relationship with Napag were also raised in September 2018 by Noorbank due to accounts held by the Maltese businessman in the bank for his two UAE firms, namely 17 Black and Wings Investments.
All activities and transactions carried out by 17 Black and Wings are the subject of magisterial investigation into potential corruption and money laundering activities.