Kevin Deguara resigns from role as Non-Executive Director of Dizz Group finance companies

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.

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.

“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.