Yorgen Fenech tried to cash over €1.5 million worth of cheques linked to 17 Black in 2019, Lovin Malta can reveal. 

In court, lead investigator Keith Arnaud revealed that Fenech, who stands accused of the murder of journalist Daphne Caruana Galizia, had reached out to a certain Mirko Albertazzi concerning substantial cheques issued by Noor Bank, which counted 17 Black as a client

Lovin Malta is informed that a Maltese businessman introduced Fenech to Albertazzi, who had contacts in Monaco.

At the time, Fenech attempted to open a bank account in Monaco with the express intention to cash cheques from Wings Development Limited (formerly 17 Black) and Wings Investments Limited. The cheques were sent to the Italian national via DHL. 

Sources believe that Fenech was attempting to cash over €1.5 million.

Fenech had first authorised an Emirati national to collect cheques addressed to Noor Bank in 2018. Then in April 2019, several attempts to cash the cheques were made, however, it appears that there were major compliance concerns for banks in Monaco.

This came after the banks received a Europol report which revealed that he was under investigation for non-financial crimes. Fenech was even warned that he risked arrest if he entered the UAE.

Meanwhile, it has recently been revealed that Fenech was planning to liquidate his assets in Malta and relocate to the United States of America during 2019.

Fenech’s 17 Black has long been linked to government corruption ever since it was revealed that it was listed as the target clients for Tillgate and Hearnville, the two Panamanian companies owned by former Prime Minister’s chief of staff Keith Schembri and former minister Konrad Mizzi.

According to one e-mail found in the Panama Papers, Schembri and Mizzi were set to receive payments of up to $2 million from 17 Black.

Meanwhile, it has been recently revealed that Enemalta forked out €10.3 million to purchase a Montenegrin wind farm from a company linked to Yorgen Fenech.

A leaked report by the Financial Intelligence Analysis Unit (FIAU) found that 17 Black had received €161,000 from the local agent for the tanker supplying gas to the LNG power station, and two separate payments amounting to €1.4 million from Rufat Baratzada, a security guard at a construction site in Baku with links to the ruling elite.

The murky structures have been linked to the Electrogas deal, which Fenech forms part of. The deal itself has been flagged as a potential motive by Matthew Caruana Galizia.

Most recently, the Daphne Caruana Galizia Foundation has claimed that 17 Black forms part of an “Azerbaijani Laundromat,” a network of shell companies used to embezzle public funds out of Azerbaijan and pay bribes around the world.

Fenech was officially indicted earlier this week and will face trial for his role in the murder of Caruana Galizia with prosecutors seeking a life sentence.