What The Vitals Inquiry Found From An Analysis Of Joseph Muscat’s Bank Accounts
Bank accounts held in the name of former Prime Minister Joseph Muscat started to receive substantial and regular monthly payments from a number of companies linked to Vitals Global Healthcare and later Steward Health Care, according to investigators’ findings.
The Vitals Inquiry has uncovered a series of transactions that raise serious questions about Muscat’s financial dealings, most notably revealing patterns of suspicious activity and financial inflows.
Transactions linked to Muscat’s primary bank account between May 2014 to December 2019 indicate that the account was used for his monthly salary with “no significant activity until early 2019”.
Muscat was forced to step down as a result of widespread protests that engulfed the country in November 2019. A few weeks later, Muscat announced his intention to step down, which he eventually did in mid-January 2020.
The only transaction that raised investigators’ suspicion during his time in office was a “notable deposit of €20,500 was made by Grace Muscat”, a large portion of which was subsequently transferred to his wife, Michelle.
The period following March 2020 saw a series of significant inflows into Muscat’s account. These included payments from Accutor Consulting AG, Global Ports Holding PLC, Kohli Ventures Limited, and Spring XMedia AG, among others.
The consistent pattern of monthly payments, often in substantial amounts, suggests a regular flow of funds from these entities.
Accutor Consulting AG, formerly known as VGH Europe AG, was formed in April 2017 by Ram Tumuluri and Shaukat Ali. This company, alongside Spring XMedia AG, played a central role in transferring funds to Muscat. Payments from these entities to Muscat’s account began in early 2020, with amounts typically set at €15,000 per transaction. This pattern continued through mid-2020, raising red flags about the nature of these transfers and their intended purpose.
Nothing is known about the relationship between Muscat and Global Ports Holding PLC and Kohli Ventures Limited, and it is entirely possible that they represent legitimate consultancy fees.
Having said this, it is interesting that Muscat, who until November 2019 presumably intended to remain in office at least for the remainder of his term, was able to set up a lucrative private consultancy practice within a month or so of resigning.
What do you make of this?