Creditors fainted and collapsed in shock after Ryan Shemburi fled Malta

A man who was advised to invest his savings in Ryan Shemburi’s business told the court how he fainted and fell when he learned that Ryan Shemburi had fled the island.

“I cried when he ran away. I fainted and fell in shock,” Joe Diffesa told the court.

Former OPM Chief of Staff Keith Schembri’s cousin, Schembri, fled the country in 2014 and is reported to have left a debt of € 40 million due to the crash of the More Supermarket. He is believed to have borrowed a large amount of money from an entrepreneur before he realized he was unable to repay a loan originally intended for ambitious import and export operations.

Difesa talked about how he met a person familiar with Schemebri at the office of his financial investment adviser Calamatta Cuschieri in September 2013.

“He told me there was no investment opportunity at the time, but he mentioned Ryan Shemburi and took me to his office in Chandak,” Diffesa testified to Shemburi on Tuesday. did.

Following the proposal, Diffesa went to Chambly to oversee the business structure of Shembly and explained that he was very confident in what he found. Shemburi’s secretary arranged a meeting for Difesa and his boss at a rental villa in Birkirkara.

Witnesses said they observed a lot of activity, such as people coming and going, managing files, and so on. Defesa gets the impression that the business is thriving and Shemburi explains how a private investor in his meat industry trusted him with his money and thanks to him a good return on their investment. When I did, I was even more relieved.

When Defesa expressed his concerns about what would happen if something went wrong, Shemburi issued an insurance policy to reassure his potential investors. “But I don’t know how to read it, so he might have shown them upside down,” the Witness said.

After asking around and convinced that Schemeri came from a “good family,” he withdrew € 500,000 in cash from his financial adviser and handed the money over to Chembri for a year. I agreed.

In April 2014, he presented one of the checks at Banif Bank, but it was rejected and told not to return because Schemebri “did not have money”. After calling Difesa himself and explaining what had happened, he was invited to go directly to him for cash.

Checks are not monetized

Difesa said Schemeri wasn’t complaining and was telling him to monetize all or part of the check as needed. However, when Schemebri’s business went bankrupt, Difesa was left with some unlicensed checks. Witnesses presented these checks in court as evidence.

Among these were checks of € 16,000 and checks of € 27,000 each. When asked why he continued to accept checks after the bank refused them, Defesa pointed out that he was making a living and didn’t need all the money he had at the time, and he always gave cash from Schemebri. I said I can receive it. ..

In addition, he kept those unpaid checks, invested in Schemebri’s promised new venture, and supplied meat and other food to cruise ships. He has invested US $ 1,015,000 in Schemebri’s business, Difesa said.

Before handing over the money, he went to Hamrun looking for Ryan’s father to make sure the business was credible. “Can you confirm that it’s okay? If I lose this money, I’ll talk to myself,” the Witness told Ryan’s father. “We have been in this business for three years,” his father reassuredly said.

Under cross-examination, Witnesses refuted the defense’s allegations that he actually monetized “a lot of checks and a lot of money.” “No checks have been returned to the drawer,” asked Schemebri’s lawyer, Roberto Montalto. Difesa emphasized that he tried to monetize these checks only once at the bank and started receiving cash from Schemebri after they were returned.

The final payment was affected about four to six months before Schemebri fled Malta, leaving traces of creditors. Schembri will say that if things go wrong, it will be refunded to the creditor within two years.

Shemburi demanded a small loan just before fleeing the island

Diffesa remembered requesting a small loan shortly before Shemburi fled.

He handed over the money and told him to collect them next Monday’s birthday. “You seem to remember how much you invested, but you can’t remember how much you returned,” Montart asked.

Witnesses said it was less than € 150,000 in two years. When asked why he had opened the check for so long, Defessa said, “I believed in his project. […] I’m still waiting. “

The case presided over by Judge Donatella Frendo Dimech continues in July.

Attorneys at the Attorney General’s office, Karl Muscat and Francesco Rifaro, assisted prosecutor Anthony Seri.

Attorney Jose Herrera represented the interests of Diffesa, and Attorney Ian Bella Galea emerged as a citizen.

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