One of the biggest figures in Malta’s lucrative construction industry, Charles Polidano, together with his son Gordon were on Friday morning arrested and taken in for questioning as part of a police probe into suspected money laundering and corruption, the Times of Malta reports.
Best known as ‘ic-Caqnu’, he is a co-founder of one of the most successful and controversial construction companies in Malta, Polidano Brothers Limited, which evolved into Polidano Group. The company has been involved in many major national infrastructure projects.
Mr Polidano is said to have been arrested at his home, after which he was questioned by the Financial Crime Investigation Department within the Malta Police Force.
The Times cites police sources who claim that Mr Polidano was taken in for questioning in connection with a “lengthy investigation” into suspected money laundering and corruption.
In addition, police suspect him of having corrupted a senior official at a major entity via a property sale.
The arrest comes a month after Mr Polidano reportedly paid off €20 million in taxes owed to the Government for a number of years. In 2020, it emerged that Polidano Brothers Limited owed an eye-watering €30.4 million in unpaid corporate taxes.
Commercial vessels ‘must never become targets of violence’ – Malta International Shipowners’ Association
The association asserted that freedom of navigation and transit passage through international straits are fundamental principles protected under international law
Labour pledges 175% tax credit for research and innovation investments
PL proposes 60% tax credit on digital investment
PN proposes tax reduction for SMEs in latest electoral pledges
PN Leader Alex Borg announced a package of seven measures