HomeBussinessShoreline owner facing Vitals criminal charges resigns from DIZZ finance vehicles

Shoreline owner facing Vitals criminal charges resigns from DIZZ finance vehicles

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One of the lawyers facing a slew of charges in the criminal investigation on the Vitals hospitals PPP has resigned his directorships at D Shopping Malls Finance and Dizz Finance plc.

Kevin Deguara is one of five lawyers, together whis law firm DF Advocates and partner Jean Carl Farrugia, facing charges of having participated in a criminal activity and criminal association, and document fraud, including documents related to VAT.

Dr Adrian Sciberras was appointed in his stead as independent, non-executive director on the two companies.

“The Board would like to formally thank Dr Deguara for his support towards the company over the years, and simultaneously, welcomes Dr Sciberras to the board,” company owners and CEO Diane Izzo said.

Adrian Sciberras is a certified public accountant and advocate with specialisation in corporate law, taxation, and business consulting, who founded various businesses and currently practices in a law firm he founded.

Deguara is one of the main shareholders in the Shoreline project, a luxury apartment complex at Smart City, having joined the DIZZ group as a director in 2020.

DIZZ is led by retail fashion entrepreneur Diane Izzo, which recently launched a €10 million convertible notes programme to acquire shares in its own food subsidiaries.

Deguara is a director of The Convenience Shop Holding plc, the food retail chain, as well as Horizon Finance plc and Shoreline Mall plc, developers of the Shoreline at Smart City.

He has previously acted as a spokesperson for Sadeen Group, the Jordanian developers of American University of Malta.

In 2019, Deguara was part of a multi-million bond issuance for the acquisition of a 25% acquisition of grocery chain The Convenience Shop, and for the mini-market’s acquisition of various groceries and stores, where it has aimed at extending its network over a total of 100 stores.

Deguara’s Middletown Investments owns a 30% stake in Shoreline Holdings, the luxury apartment development at Smart City; as well as part of Gaia Investments, which holds a major interest in The Convenience Shop Holdings.

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