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Eurochange Clarifies That It Never Onboarded Keith Schembri Or Adrian Hillman As Clients

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Eurochange, a local company that was recently mentioned in court testimonies, has clarified that it has never held a relationship with ex-OPM chief of staff Keith Schembri or former newspaper boss Adrian Hillman, along with several other people facing corruption and money laundering charges.

“I wish to reconfirm that those individuals and entities recently referred to in the media, including Keith Schembri, Adrian Hillman, Vincent Buhagiar, Malcolm Scerri, Brian Tonna, Karl Cini, Manuel Castagna, Lester Holdings Ltd, Selson Holdings Corp, Colson Services Ltd, Nexia BT and Nexia Advisory Services Ltd are not and have at no time been clients of Eurochange Financial Services Ltd and that no services have been provided to them,” a spokesperson for Eurochange told Lovin Malta, when called for comment.

Lovin Malta is informed that Eurochange is not being investigated despite having been referred to, together with various banks and institutions, in testimonies describing the money laundering structures used by those involved in the sale of a printing press to Allied Newspapers.

Eurochange used to be among seven shareholders of the company MFSP, now Zenith Finance, which is linked to other key figures facing charges in court: Matthew Pace and Lorraine Falzon.

Eurochange sold its shares to MFSP after an approach by the original four shareholders to buy them in 2016. This happened a year before the commencement of the inquiry which led to current proceedings.

Asked whether MFSP were clients of Eurochange, Lovin Malta was informed that the company is not in a position to divulge information about previous or existing clients.

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Christian is an award-winning journalist and entrepreneur who founded Lovin Malta, a new media company dedicated to creating positive impact in society. He is passionate about justice, public finances and finding ways to build a better future.

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