Second major cocaine haul at Freeport Police have seized 100 kilograms of suspected cocaine after intercepting a container at Malta Freeport. If confirmed, the haul has an estimated street value of €14 million. The drugs were concealed in 50 packets hidden among cables in a shipment originating from Guayaquil, Ecuador. A magisterial inquiry is underway, though police have not disclosed whether the consignment was intended for the Maltese market. This marks the second significant drug bust at the Freeport this month. Earlier, 146 kilograms of cocaine were discovered on a truck leaving the facility, a shipment confirmed to be destined for Malta. Three individuals have since been arraigned in connection with that case. (Times of Malta)
APS confirms HSBC Bank Malta bid
APS Bank plc has confirmed its interest in acquiring HSBC Continental Europe’s 70.03% stake in HSBC Bank Malta plc, submitting a non-binding offer to HSBC Holdings. Earlier, HSBC Bank Malta announced that several parties had expressed interest in the stake and requested to conduct due diligence before formalising their intentions. The bank also plans to convene an extraordinary general meeting to seek shareholder approval for these checks. In its statement, APS Bank declared its participation in the process and announced Alvarez & Marsal as its lead financial advisor, with Ganado Advocates providing legal counsel. (The Malta Independent)
30-year-old charged with bribing the police to access sensitive information A gym owner from Marsascala has been remanded in custody after denying charges of bribery, involvement in a criminal organisation, and other serious offences. Ruud Buhagiar, 30, was arraigned on Thursday, accused of bribing a police sergeant to gain access to sensitive information about ongoing police operations. Prosecutors claim that Buhagiar’s actions compromised the integrity of the police force and enabled criminal activity.Further investigations uncovered data from Buhagiar’s phone linked to various police operations, including raids conducted by the drug squad. Upon arraignment, he faced multiple charges, including promoting a criminal organisation, bribery, complicity in drug trafficking, and cannabis possession under circumstances suggesting intent beyond personal use. (Maltatoday)
