Fenech says PL financial administrator linked to oil scandal company

Finance Minister Tonio Fenech said this evening that the financial administrator of the Labour Party, Joe Cordina, was one of three directors of a company at the heart of the oil procurement scandal. Speaking at a press conference this evening, Mr Fenech said that the commissions used to be paid by oil company Trafigura into a New York account of Wachovia Bank addressed to Aikon Ltd. Aikon Ltd was administered by Intershore Fiduciary Services Ltd of which Joe Cordina was a director along with Charles Scerri and Dr Martin Fenech. Mr Fenech said that public documents showed that Aikon Ltd was previously also called Mo Ltd and Petrotech Ltd. Intershore was its sole shareholder, director and legal representative. As a result, Mr Fenech said, while Labour had since January been trying to implicate the PN and the government in the oil procurement scandal, it had now resulted that the financial administrator of the Labour Party was actually involved. In saying all this, Mr Fenech said, he was not in any way trying to defend George Farrugia, who used Aikon Ltd to screen himself. But clearly Joseph Muscat now had to explain the activities of his party's financial administrator. Intershore...