The Malta Independent 22 June 2025, Sunday
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Beppe Fenech Adami declares a total of €617,688 in deposits

Kevin Schembri Orland and Helena Grech Thursday, 28 April 2016, 11:48 Last update: about 10 years ago

Nationalist Party Deputy Leader Beppe Fenech Adami has declared €306,516 in various corporate bonds, but failed to declare the names of the companies which issued the bonds.

Dr Fenech Adami declares a total of €617,688.75 deposited in various banks, together with a home loan of €155,851. He also declared share holdings in four properties and ownership of a further three properties - inclusive of his controversial Gharghur residence. 

Dr Fenech Adami has been accused of benefitting from favouritism, after his home, in 2006, was placed within the rationalization scheme which allegedly made him a millionaire overnight. Labour Party media dubbed his home as 'il-palazz ta' Beppe.' The PL claimed a number of other irregularities, such as unfairly being allowed to build a third floor. Dr Fenech Adami denied these claims, and accused the ruling party of trying divert public attention from government scandals.

Finance Minister Edward Scicluna registered €579,000 in bank accounts, including joint accounts, in his declarations of assets for the year 2015. In 2014, he registered €488,000 as being deposited in banks.

His shareholdings and bonds remained identical to the previous year, being 1,000 shares in AEC Ltd, 20,000 shares in CWG PLC (through AEC) and €327,000 worth of MG Bonds.

Gozo Minister Anton Refalo saw a rise in funds he has in his bank, jumping from €3,949.72 back in  his declaration of assets for the year ending 31 December 2014, up to €15,450 for the year ending 31 December 2015. In this year’s declaration, the minister wrote his government income to be €59,854.99 and his wife’s income to be €20,590.44. His total income, including that of his wife, amounted to €178,160.43, which also included rent as what seems to be around €87,000 coming from the sale of Half an undivided share of an Qala property.

Minister Refalo’s loans also dropped down to €693,100 from €781,200 listed for the year ending 31 December 2014.

The following MPs have not submitted their declaration of assets by 17.00h yesterday: Jason Azzopardi, Luciano Busuttil, Giovanna Debono, Kristy Debono,  Mario Galea, Emmanuel Mallia, Charles Mangion, Marthese Portelli and Stephen Spiteri.

 

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