Former MGA CEO among those accused of game licensing fraud

A 400-page report drafted by Financial Forensic Investigator Luigi Faneyte has accused former Malta Gaming Authority (MGA) CEO Mario Galea, Irish National Aideen Shortt and Founder and CEO of IGA Group Mario Fiorini of setting up a “web of fabrications” with the aim of embezzling and laundering money.

The report stems from the Caribbean Island of Curaçao and was sent to the country’s Attorney General (AG) Guillano Schoop last week, a Times of Malta (TOM) report details.

Mr Galea served as CEO of MGA (formerly known as the Lottery and Gaming Authority) between 2004 and 2008 and had a brief stint as its chair in 2013.

Ms Shortt is a well-known figure in the gaming industry and reportedly joined Mr Galea’s consulting company, Random Consulting Limited, in 2015. Shortly after, she left as she set up her own company Lilywhite Limited. She has also been recently engaged as a communications advisor to Curaçao’s gaming authority, the Gaming Control Board.

On the other hand, Mr Fiorini is the Founder and CEO of IGA Group, which provides advisory services to gaming companies.

The report further implicates Curaçao’s Finance Minister, Javier Silvania, of conspiring with the Malta-based trio and asks the AG to take criminal action against them.

Gaming portal NEXT.io’s sources have stated that the report might have political implications, as Mr Faneyte forms part of the country’s opposition party and its publication is timely, ahead of the March 2025 elections.

Nonetheless, Mr Silvania is currently working on a regulatory reform into the country’s gaming industry, widely believed to be more lenient in terms of enforcement and standards.

The proposed laws were set to strengthen the regulatory authority overseeing the sector and introduce a new licensing framework for industry operators, however this was met with a lot of opposition.

Mr Galea, along with “his life partner” Ms Shortt, were engaged by Mr Silvania as advisors for the reform process and described them as “Maltese investors.”

The Financial Forensic Investigator reported that a system of provisional licenses was set up during the reform process.

Through this system, any company that needed to obtain a licence had to apply through this portal, managed by Mr Galea. This, according to Mr Faneyte, “lead to concerns about monopoly formation and lack of transparency.”

Since its establishment, 155 provisional licences were granted with various companies declared bankruptcy in recent months. This, according to Mr Faneyte, has led to a trail of nearly €8 million in unpaid debts. This includes BC.Game, which declared bankruptcy after allegations of misconduct.

The investigator has alleged that Mr Fiorini “played a key role in the transferring assets and (illegal) income from BC.Game”, through IGA Group. This was denied by Mr Fiorini.

In comments to TOM he stated that he does not have and never had any involvement or financial interest in BC.Game. “This is only one example of false claims being made by Mr Faneyte,” he said.

However, in the report, Mr Faneyte, stated that Mr Silvania, Mr Galea, Ms Shortt and Mr Fiorini “actively participated in the setting up of a system that is fundamentally deficient in transparency,” through the use of private email addresses to carry out official business and hide supposed conflicts of interest.

Among the report’s other claims, Mr Faneyte stated that Mr Galea last year said that Curaçao authorities engaged 170 people to assess licence applications, but these do not exist. Minister Silvania stated that nobody had been engaged to date. Later, Mr Galea had said that licenses were being vetted and issued using AI.

Mr Galea rebutted these claims with TOM, while accusing the investigator of twisting his words.

He also stated that Mr Faneyte’s allegations are baseless and unfounded and based on “unsubstantiated assertions that are not supported by any credible evidence.”

He denier the suggestion of involvement in Curaçao’s licencing platform stating that “while we supply the platform, we do not manage it.”

“The Curaçao Gaming Control Board is the ultimate manager of the entire process, including the portal. We are not involved in any decisions related to licence issuance, nor do we collect any funds from operators. Furthermore, the licences issued through this process are not provisional but are proper licences granted under the current framework,” he added.

Additionally, Ms Shortt stated that the report “is a blatant attempt to derail the process of modernisation and reform of Curaçao as a gambling jurisdiction.” She also denied any involvement in Mr Galea’s consulting company, sharing that her company was engaged by Curaçao’s finance ministry for PR services.

Meanwhile, Mr Fiorini stated that “Luigi Faneyte is a member of the opposition party in Curaçao. He is currently running for election. Part of this campaign has been based on unfounded claims against Maltese citizens currently investing in Curaçao.”

The Minister also commented that the accusations were politically motivated aimed at influencing public opinion.

“I can only conclude that these allegations are part of a broader strategy to divert attention and mislead the public for political gain,” he said.