Shocking Revelation: Government and Konrad Mizzi Deceived Public with Fake €9 Million Performance Guarantee
In a stunning exposé, it has been revealed that the government, along with the disgraced former minister Konrad Mizzi, went to great lengths to deceive the media and the public regarding a crucial €9 million performance guarantee. This guarantee was supposedly obligated to be provided by Vitals Global Healthcare (VGH) within 30 days of signing the concession on 30th November 2015. However, a recent report from the National Audit Office (NAO) has exposed the truth—neither VGH nor its successor, Steward Health Care, fulfilled this contractual obligation, while Projects Malta conveniently turned a blind eye.
It is nothing short of astonishing that both Projects Malta, the Office of the Prime Minister (OPM) agency responsible for administering this fraudulent deal, and Konrad Mizzi himself publicly declared that the performance guarantee was securely in place back in 2018. This bold claim was made despite the fact that Projects Malta had rejected a freedom of information request by The Times of Malta, denying access to the performance guarantee and the identity of the banking institution involved.
Back in January 2018, Projects Plus CEO James Camenzuli, in a remarkable display of audacity, insisted that the performance guarantee was indeed in place but required additional time for consultation with third parties before making it available. A month later, Konrad Mizzi himself echoed this narrative, adamantly asserting that VGH had promptly established the performance guarantee soon after signing the concession agreement in 2015. When pressed to reveal the name of the bank responsible for issuing the guarantee, Mizzi conveniently claimed to have forgotten the exact details, only noting that it was a “reputable international bank.”
However, a recent disclosure made by former VGH director Ram Tumuluri to the US Securities and Exchange Commission has shed light on the truth. Tumuluri revealed that the performance guarantee was issued by Deutsche Bank on 2nd March 2016, clearly indicating that it was well beyond the agreed deadline and long after Mizzi and the government had been insisting it was in their possession.
Now, the NAO report has unequivocally confirmed the shocking reality that the performance guarantee was never implemented by Steward Health Care. Moreover, it exposes the blatant lies propagated by both Projects Malta and Konrad Mizzi, who shamelessly misled the public.
“The failure to duly roll over the performance guarantee, as stipulated in the concession agreement, demonstrates the negligence of Steward Health Care (SHC),” states the NAO report. “Instead of fulfilling their obligations, SHC provided the government with a parent company guarantee.”
It is worth noting that Projects Malta, the orchestrator of this deception, had William Wait, who is currently serving as the chairman of Malta Enterprise, at its helm. Additionally, Alfred Camilleri, the then-permanent secretary of the finance ministry, was part of the board.
According to the contract signed for the privatization of the three state hospitals in 2015, the government reserved the right to call in the €9 million performance guarantee at any time if VGH was found to be in breach of its obligations. The contract clearly stipulated that the failure to provide the guarantee itself could have rendered the entire contract null and void.
This shocking revelation casts a dark shadow over the integrity of the government and raises serious concerns about transparency, accountability, and corruption within the system. The people of Malta deserve honest leadership and trustworthy governance, free from the deceit and manipulation that has come to define this scandal. It is high time for those responsible to be held accountable and for justice to prevail.
Source: TheShiftNews.com & TimesofMalta.com
Michael
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