🇲🇹 Malta Orders Bank Sale Over Mafia Links

The Malta Financial Services Authority (MFSA) has directed Dutch billionaire, Marcel Boekhoorn, to sell Novum Bank within six months due to alleged mafia connections. This mandate will remain until the completion of a legal trial in Italy. Boekhoorn has been stripped of his rights to own financial institutions in Malta amid accusations that his company, Ramphastos Investments, used illegally sourced funds to acquire 80% of Talenta Labs in 2017. These funds allegedly came from Massimiliano Rizzo, who has ties to the Calabrian mafia. Boekhoorn denies any wrongdoing. Back in 2019, it came to light that Boekhoorn's former betting operator, SKS365, had undeclared taxable income of approximately €4 billion for 2015-2016. He sold the operator in 2023 to Lottomatica Group for €639 million. 🏦🔍