Chetcuti Cauchi Raw Footage clears Malta's foremost IIP Agent
Raw footage transcribed by this portal came to light yesterday when Chetcuti Cauchi published the raw footage obtained by court order after the French court fined the French media house for obstruction of justice. In the footage, Chetcuti and other representatives explained at length how even a bad reputation would necessitate an assessment prior to taking on the client and that clients with a criminal background should not even apply.
Malta Citizenship Due Diligence described professionally in rare undercover camera test
Raw footage transcribed by this portal came to light yesterday when Chetcuti Cauchi published the raw footage obtained by court order after the French court fined the French media house for obstruction of justice. As the transcripts below demonstrate, the raw footage out-rightly disproves the allegation by the journalist that Chetcuti Cauchi IIP lawyers were caught on camera boasting of government relations and of using such relations to assist clients with dubious backgrounds.
The IIP Regulator had reviewed the MIIP Agency's practices and found no facts to back this allegation - see ORiip Report on IIP Applications submitted by Chetcuti Cauchi of November 2019. This Report crucially gave a clean bill of health to Chetcuti Cauchi's citizenship work and found the IIP Agency’s conduct strict, professional and impartial.
Raw footage clearly shows malicious editing
Now the raw footage seen by Legal-Malta proves the direct opposite of the allegations. In the footage, Chetcuti and other representatives explained at length how even a bad reputation would necessitate an assessment prior to taking on the client and that clients with a criminal background should not even apply.
Chetcuti's schooldays relations were mentioned only in response to a third, repeated question by the journalist, which was then used out of context to portray the 'boasting'. The journalist clearly left out statements that didn't fit his agenda in what media sources told us was an act of unethical journalism.
Footage shows that when asked directly by the undercover journalist about the use of Chetcuti's professional relations with the authorities, the senior partner promptly reacted:
“I am always very careful to explain to people like that, look it doesn't mean I can get something done if it's not. So that's the way I operate, so to do it the right way, if there is a concern, address the concern. And if it's not doable, we can be honest and say, I can't help here.”
and
“coz with a passport check we will immediately know what there is.... so we offer a free assessment at the outset, passport check, if it's a complete no go, we don't waste your time, we tell you, don't waste your time.”
Transcript of Chetcuti Cauchi's Exonerating Raw Footage
The following is a transcript of the TRUE conversation describing the due diligence standards applied by the Malta Individual Investor Programme:
“one thing that you need to look at in Malta is that .. our (CIP) Due Diligence Index outlines this: Malta ranks 1st in due diligence because it also takes into account Reputation … so even though they might be cleared or they might prove they're innocent, it's still bad press.”
“So one thing we offer … is an assessment, where we don't just take an application, yes we can do it, apply, you're clean. Coz being clean is not good enough.”
“One thing I will tell you is that the odds are... they (African countries) are treated as high risk already... so the starting point isn't a pleasant one. People from these countries start with a disadvantage… So that's why I think for them an assessment would be critical coz there will be cases where we will not waste time. In other cases, it just means we are better equipped because the best equipment is to know all the facts. And that is another way where we feel we are better positioned as a law firm, of course, they can open up.”
“So we basically offer our clients, if there is this kind of scenario of bad press and so on, we prefer if the client pays a much smaller fee for an assessment. This covers an EDDR that we get from a third party company.”
“They (MIIP Agency) conduct… engage two or three due diligence agents, … they have boots on the ground.”
“No, the best thing is to disclose it. It's better to disclose it and explain it. If you get caught then sometimes you don't even get a chance to explain, you get rejected. and you won't even know why.”
“coz with a passport check we will immediately know what there is.... so we offer a free assessment at the outset, passport check, if it's a complete no go, we don't waste your time, we tell you, don't waste your time.”
“No I think the fact that there is this (European) Expert committee with the specific objective to set minimum standards, its saying they are here to stay: we don't mind them as long as they follow the rules, and that's what we want. Malta doesn't want them to be easy.”
“The OECD in its Report said we recognise the legitimate reasons for Citizenship Programmes, the right to move to a stable country, the right to set up a business in a different country, job opportunities, education for the kids and so on.... but they can be misused, so (OECD) we recommend to banks to apply these,.... check the country of birth... ask for his other passport. don't accept just a Maltese residency or a Portuguese residency or a St Kitts Passport and you're happy with that... you need to ask for where are you resident. In reality banks already knew this. They ask for a Certificate of Tax Residency, not a PP or a residence card. Anyone can have multiple residence cards, So it's a lot of the same thing. The rules are there.”
“And the European Commission, … makes sure that the existing rules on money laundering, border control, security, the Schengen Information System all the checks... and existing money laundering rules are applied...”
“So at the moment, the European Commission set up an Expert Group where all the representatives of all these programmes are meeting. I'm supporting … the MIIP Agency, basically giving our (CIP) Due Diligence Report, our Index where Malta ranks 1st, and the points, the minimum standards, they asked Malta to suggest minimum standards because ironically they recogize Malta as a very good standard of Due Diligence.”
“Coz the reality is the Maltese programme is the cleanest of them all. They haven't given any one passport that was found to be wrongly given. Of course, you cannot exclude that someone who got a Maltese passport 10 years ago, might do something wrong in the future ... but in the past no.”
“No I think the fact that there is this (European) Expert committee with the specific objective to set minimum standards, that should apply across the board, its saying they are here to stay: we don't mind them as long as they follow the rules, which is what we want.Malta doesn't want them to be easy. Nobody wants criminals in their programmes.”