Fintelegram can reveal that the Malta Gaming Authority (MGA) has been using the services of outsourced lawyers rather than its in-house lawyers to defend itself against license holders and selected persons. One of the law firms that is raking in tens of thousands of euros is GVZH Advocates. It is not known how they were selected. Fintelegram is publishing proof that this law firm has been enjoying a hefty retainer for years. The published invoice is addressed to MGA CEO Carl Brincat.
Carl Brincat replaced disgraced Joe Cuschieri, who was appointed CEO of the Malta Financial Services Authority (MFSA) in 2018. However, he was made to resign as MFSA’s CEO following a scandal that rocked the Maltese islands.
Joe Cuschieri was the travel companion of Edwina Licari, who still enjoys a €100,000 salary at MFSA and gets to decide who obtains a license or not. Carl Brincat hit the headlines when it was revealed that he referred to due diligence as a “shit show.”
Andrew J. Zammit (pictured left) heads GVZH Advocates. He acts as a director of one of the companies of Calamatta Cuschieri Group, which also hit the headlines for the wrong reasons. Calamatta Cuschieri Investments Services Limited did hand €500,000 in hard cash to a client with a criminal record. So far, the Maltese authorities have remained silent on this shocking news which was revealed in the Courts. Andrew J. Zammit also promotes himself to potential clients with experience in the online gaming sector. He does so simultaneously when his law firm acts as legal advisor to the Malta Gaming Authority!
GVZH Advocates (www.gvzh.mt) offers a full spectrum of services, including company registration, preparation, and coordination of all aspects of the application process with the MGA. Moreover, the law firm also offers its services in connection with MFSA licenses.
Sources said that it is baffling how a lawyer acts as a paid defendant to Maltese authorities, such as the MGA and the MFSA, whilst at the same time being a subject person who should be under scrutiny by the same authorities! This is unheard of in other European countries. The same sources explained that this clear conflict of interest should trigger police investigations.
The top officials at MFSA and MGA do not publish their conflicts of interest. Lately, Christopher Buttigieg, who has enjoyed a record number of promotions at MFSA, was sued by an insurance firm for serious multiple reasons.
