The extradited supermarket boss Ryan Schembri had sold his chain of six supermarkets to the Medasia restaurant entrepreneur Darren Casha for just €94,000 – weeks before absconding the island with tens of millions in debts left behind. Schembri was however retained only as a director of the More Supermarkets outlet of Hamrun, together with his father, Adrian Agius, Chris Delia and Kurt Camilleri. Schembri and Agius signed ‘secret’ constitution of debtBut after his share transfer to Darren Casha, Ryan Schembri had more debts to settle: a major headache was a €3.5 million loan from two creditors, Edmond Mugliett and Alex Farrugia. Using their roles as directors of More’s Hamrun outlet, Schembri and Agius signed the constitution of debt – allegedly unbeknownst to Casha. In a 2016 judicial protest, Casha accused Schembri of having “fraudulently and deceitfully” misled him into ‘investing’.

Source: Libya Today May 02, 2022 08:28 UTC