Plasterer used shadow finance system to move millions, terrorism case told Man known as 'the banker' used hawala to send money to countries

November 1, 2023   

(Times of Malta) A Syrian man arrested following a magisterial inquiry into reports of terrorism-related activity in Malta transferred some €2.5 million to 13 countries in two years, an investigation has revealed.

A money laundering inspector testified that the transfers were multi-national, including Australia, Belgium, Iraq, Syria and the United Arab Emirates.

He was testifying against the 35-year-old plasterer Ebrahem Ahmad who stands accused of money laundering, operating an illegal banking service operation and involvement in a criminal organisation. He is pleading not guilty.

The officer’s investigation revealed that Ahmad had allegedly been offering banking services without a licence.

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