Dizz Group

Dizz Finance plc and D Shopping Malls Finance plc on Friday (today) announced that Kevin Deguara, who is facing charges related to a hospital privatisation deal, has resigned from his role as Non-Executive Director.

In separate statements, the two subsidiaries of retail fashion business Dizz Group stated that he has resigned from the position as well as member of the companies’ audit committees.

Kevin Deguara / LinkedIn
Outgoing Dizz Finance plc and D Shopping Malls Finance plc Non-Executive Director Kevin Deguara / LinkedIn

Dizz Finance acts as the finance company of Dizz Group, involved in raising funds and lending to the group. D Shopping Malls Finance is the finance company of D Shopping Malls Limited, the company engaged in investing in, acquiring, holding and managing shopping malls and properties.

The two companies also stated that Adrian Sciberras, a Certified Public Accountant and Advocate, has been appointed Non-Executive Director in his stead. Dr Sciberras specialises in corporate law, taxation, and business consulting, and is the Founder of Sciberras Advocates, a boutique law firm. He holds degrees in accounting and advocacy and is a Member of the Association of Chartered Certified Accountants (ACCA) and of the Malta Chamber of Advocates.

Adrian Sciberras / Sciberras Advocates
New Dizz Finance plc and D Shopping Malls Finance plc Non-Executive Director Adrian Sciberras / Sciberras Advocates

“The Board would like to formally thank Dr Deguara for his support towards the company over the years, and simultaneously, welcomes Dr Sciberras to the Board,” the companies said.

Dr Deguara is one of a number of individuals and companies facing charges related to the Vitals scandal, a deal to privatise three state hospitals that saw around €400 million in public funds being spent. The deal, pushed by former Prime Minister Joseph Muscat and his administration, was later annulled by court and is now engulfed in legal proceedings.

He was included in the second batch of charges filed by the Attorney General, together with several other high-profile individuals. He is facing charges tied to money laundering, having participated in a criminal activity and criminal association.

As at the time of writing, the inquiry has already led to the resignation of Chris Fearne from his position as Deputy Prime Minister and Government Minister, as well as a number of professionals linked to the case, including former civil servant Joseph Rapa. Additionally, local financial services firm Calamatta Cuschieri Moneybase and Calamatta Cuschieri Investment Services have terminated agreements with DF Consultancy Services and Horizon Finance plc, two companies which are owned by Dr Deguara and Jean Carl Farrugia, who is also facing charges.

Featured Image:

Dizz Group

Related

Kevin J. Borg / LinkedIn

Kevin J. Borg named new Malta Employers’ Association Director General

20 June 2024
by Fabrizio Tabone

He takes over from Joseph Farrugia, who will continue to serve as Consultant for the association.

Alliance CEO Michael Bonello ‘couldn’t be prouder’ as daughter closes first contract as letting agent

19 June 2024
by Anthea Cachia

Thea, Michael Bonello's eldest daughter, joined the Alliance team recently.

JD Holdings Owner and Chairman Josef Dimech celebrated on his birthday

19 June 2024
by Fabrizio Tabone

He first entered the business at the age of 16, working in his father’s garage in Msida.

Luxurious Four Seasons Yachts adds Malta to list of destinations for inaugural year

19 June 2024
by Fabrizio Tabone

Four Seasons Yachts is jointly-owned and operated by Canada’s Four Seasons and Malta-based Marc-Henry Cruise Holdings Ltd.

Close Bitnami banner
Bitnami