The stage is set in 2013 for a special performance of the Phantom of the Opera in the Triad National Theatre of Panama directed by Maestro Brian Tonna with the participation of The Karl Cini Skype Dance Studio.
The star actor who plays the part of the Phantom wears a mask right throughout the performance and carries the stage title of Lord Egrant. He is ably supported throughout by Count Hearnville and Baron Tillgate who start the play wearing a mask however they are, during the first act, unexpectedly stripped off their mask by Lady Clouseau and have to keep embarrassingly facing the audience with a naked dirty face.
Before we discuss the details of the plot, it is important to have a close up of the prototype below showing the curriculum vitae of the actors and how they made it to the special performance.
The challenge for the audience is to, at best, try and unmask the real Lord Egrant, failing which they have to make a good guess of the face under the mask after meticulously scrutinising and comparing the facts and comments below.
The main purposes and objects of each of the three companies are:
– To act as settlor or beneficiary in trusts within or outside the Republic of Panama.
– To receive and/or pay royalties, commissions and other income or outgoings of any kind.
– The opening and operation of bank accounts of any nature with any bank or financial establishment in any part of the world.
Joseph Muscat was asked many times on different occasions by journalists to state whether he knew the face behind the mask and the reply was always an embarrassing stare or advice to be careful whenever they ask questions in their capacity as journalists to avoid being sued for libel. On some other occasions he just jumped into the car and was sped away to avoid giving a reply.
After a year of deep discernment, Joseph Muscat in an aggressive and repeated tone, called the Leader of the Opposition a liar, and immediately Brian Tonna publicly took ownership of the title of Lord Egrant exactly as had been predicted by Lady Closeau. The self-declared Lord Egrant even denied that Karl Cini had referred to Egrant when he agreed with his counterpart Luis of Mossack Fonseca in Panama to whisper secretly the name of the intended beneficial owner via Skype.
I wonder why Joseph Muscat was so aggressive and angry in calling Simon Busuttil a liar however, it is very normal for someone who has an inner sense of guilt to act in this way.
Brian Tonna, knowing too well that the audience was attentive and would not be fooled easily, sought to authenticate his title to beneficial ownership of Egrant by seeking a declaration from Ricardo Samaniego who is the nominee director and president of the three companies, Tillgate, Hearnville and Egrant.
Unfortunately, Ricardo Samaniego who seems to have a shady background in his history of acting as nominee director for Panama companies on behalf of Bufete Mossack Fonseca, seems to have been taken by surprise and issued two suspicious declarations, one dated 16 February 2017 and the other 8 days later dated 24 February 2017.
The first declaration, which has the identity of Brian Tonna’s address blanked out, confirms that he had acquired the company as a shelf company on 9 August 2013 and has remained as its sole ultimate beneficial shareholder to date. It also states that the company is in dissolution.
The second declaration states that the company was registered on 8 July 2013 by means of a Public deed issued on 4 July 2013. It also confirms that the issued share capital of Egrant is, and has always been since the date of issuance of such share, ATC Administrators Inc., with the beneficial interest in, and ownership of, this one share being vested in favour of Brian Tonna.
There is also a footnote to this declaration which states that Nexia BT’s Brian Tonna says that this document proves no bearer shares were ever issued by Egrant.
My questions and comments on the above are as follows:
– Why was the company set up by a notarial public deed when the normal situation is to register articles of association? Hearnville and Tillgate have, to my knowledge, been registered with articles of association and not with a notarial public deed.
– Why did the nominee director have to issue two separate declarations within 8 days of each other? In my opinion, the total sum of the points mentioned could have easily been incorporated in one declaration.
– Why was Brian Tonna’s address blanked out and, if there was a valid reason, why was the declaration not reissued with the intended information?
– Why does the first declaration state that he had acquired the company on 9 August 2013 and the second declaration states that the company was registered by means of a public deed issued on 4 July 2013 and that since that date, the beneficial interest and ownership has been vested in Brian Tonna?
– Why does Brian Tonna state that only one share was issued when, according to Panama law, each nominee subscriber to a company has the right to one share and, in this case as is required by law, there are two nominee subscribers?
– Why did Brian Tonna not resort to absolute transparency by publishing the nominee agreement with the two subscribers Aliator and Dubro as well as with ATC Administrators to prove what is being stated in the declarations, rather than seek declarations by the nominee director? In doing so, Brian Tonna would have had no client professional secrecy to protect, as he is both the client and the beneficial owner.
– If Brian Tonna was the intended beneficial owner of Egrant, why did he not communicate with Luis of Mossack Fonseca directly himself, but left it to Karl Cini? I cannot understand what was so secret about his name not being communicated by email if he himself is the representative of Mossack Fonseca in Malta.
– If Egrant was intended for another client who fell out, why is the company still showing its Status in the company registry, at least up to 27 March 2017, as Active despite that the declaration states that the company is in dissolution?
– If the company is in dissolution, why did Brian Tonna not publish a certified copy of the company registered resolution notifying the dissolution?
– Why did Brian Tonna not mention whether Egrant has a holding company or Trust, and if so, what are the names, where are they registered and why does he not publish the certified documents setting them up?
– Brian Tonna makes a footnote declaration to prove that no bearer shares were issued. I am sure that Brian Tonna is well aware that despite this statement, he knows that one may easily have a witnessed side agreement with third parties confirming that any income arising to the company and assets held by the company belong to the third parties.
– If the shelf company was no longer needed, why did Brian Tonna hold on to it for nearly four years?
– Why did Brian Tonna and Karl Cini refuse to appear before the Pana Committee to be interviewed on the Panama issue?
It would also be interesting to find out whether The Financial Intelligence Analysis Unit of the MFSA, the Tax Compliance Unit of the Revenue Department and the Commissioner of Police through the Economic Crimes Unit, have initiated an investigation on Egrant Inc.
The end of the first part of the performance of this Panama Phantom of the Opera, is that the Phantom may be still running around the stage and possibly planning the second act in a different part of the secret world where he can access the fruits of our past, present and future taxes.
