Ex-FIAU head Galdes confirms he investigated Panama case

Manfred Galdes, the former head of the Financial Intelligence Analysis Unit, told the European Parliament’s Pana committee last Monday that he had investigated the Panama Papers case thoroughly, The Sunday Times of Malta has learnt. Dr Galdes, who resigned as the head of the FIAU last August, told the committee: “I did not leave any stone unturned, and we investigated fully.” Dr Galdes did not state what the conclusions of his investigations had been, as he is precluded by law from doing so. In another development, the CEO of Deloitte Malta, one of Malta’s largest audit firms, told the committee there was no chance his firm would have opened a company in Panama for Konrad Mizzi and Keith Schembri. “A transaction like that [to open a company in Panama] would not have been accepted from a client acceptance point of view,” Malcolm Booker told MEPs. Pressed by MEPs to state whether he would have felt any obligation under Maltese law to report such a request, Mr Booker did not mince his words. “The law is very prescriptive,” he said. “We would not have a choice but to inform the Financial Intelligence Analyses Unit of our concerns and suspicions. Sanctions are very serious,” he...