Investigation within Curaçao’s new gambling licensing system

[Wolf32]

A detailed report has been filed by financial forensic investigator Drs. Luigi Faneyte with the Public Prosecutor’s Office that accuses Finance Minister Javier Silvania and three other individuals of significant misconduct. This includes corruption, fraud, embezzlement, money laundering, and breaches related to the issuance of online gambling licenses under the LOK.

The investigation concentrates on the issuance of “provisional licenses” in November 2023 through a platform operated by Mario Galea, a “Maltese investor”, which is supported by Silvania. During a parliamentary technical briefing on February, 2024, Silvania introduced Galea, Aideen Shortt, and Mario Fiorini as key figures in the modernization of the gambling system. However, after parliament raised about critical questions about their roles and Silvania’s commitments, a promised action plan failed to materialize. Now, according to Faneyte, Silvania’s refusal to comply with parliamentary oversight demands that the issue be brought before criminal justice authorities.

Faneyte’s investigation began after remarks made on November 15, 2023, by Mario Galea, a Maltese investor appointed by Silvania. Galea claimed that 170 Curaçaoans had been hired to work in the gaming sector, a claim later contradicted by Silvania in a parliamentary briefing.

Faneyte mentioned:

It sounded ‘too good to be true.’ From that moment, I began looking into the case, and unfortunately, my suspicions were confirmed. During the technical briefing in parliament, more than three months later, Silvania stated that no one had been hired and that they were looking for 85 people.

The investigation revealed systemic irregularities in the licensing process, including the bankruptcy of crypto-casino BC.Game, which left behind a debt of at least NAf 15 million. Faneyte stated, “The process surrounding the issuance of these licenses was chaotic.” He also raised concerns about money laundering activities and violations of anti-money laundering laws.

Faneyte also criticized the proposed amendment to the LOK that would exempt the “third parties” from liability, and calls it as a move to protect those involved in the case.

With having other evidence including recorded conversations, emails, and financial transactions, Faneyte has urged a deep investigation into the financial flows.

He mentioned:

“There is a detailed money trail. This is a unique opportunity to uncover the truth and restore justice. Curaçao deserves transparency, integrity, and a chance to do better. This investigation must be pursued to the fullest.”

Faneyte’s findings not only doubt the integrity of the licensing system, but those also put an emphasis on the urgent need for accountability in Curaçao’s gambling sector.