Former SKS365 Owner in Malta Ordered to Sell Bank Over Mafia Links
The Maltese financial regulator (MFSA) has ordered Dutch billionaire Marcel Boekhoorn to sell Novum Bank within six months.
Reasons Behind the MFSA Decision
Boekhoorn has been stripped of his fit and proper status, meaning he is no longer eligible to own financial institutions in Malta. The regulator’s decision is based on criminal proceedings in Italy, where his company Ramphastos Investments is accused of using funds of illegal origin.
The Italian prosecutor claims the money came from his partner Massimiliano Rizzo, who is linked to the Calabrian mafia, to acquire an 80% stake in provider Talenta Labs in 2017. Boekhoorn denies all allegations.
Boekhoorn’s Business History
- In 2015–2016, Italian authorities determined that Boekhoorn’s betting operator SKS365 had failed to declare around €4 billion in taxable income.
- In 2019, the company was sold to the holding Lottomatica Group for €639 million.
- In 2021, Boekhoorn’s online gaming company received a license from the Malta Gaming Authority on the condition that he would not receive dividends or exercise voting rights until the charges were resolved as reported.
Impact on Novum Bank
Bank representatives stated that the MFSA decision will not affect the bank’s operations, management, or financial stability, either in Malta or internationally.
The bank operates under a robust governance framework and complies with all regulatory requirements, including board independence, with the majority of members being non-executive independent directors.
Regulatory Checks and Fines
Novum Bank has previously faced regulatory scrutiny:
| Year | Regulator | Reason | Fine Amount |
|---|---|---|---|
| 2019 | FIAU | Inadequate transaction checks €400k–€16m | — |
| 2022 | FIAU | Insufficient anti-money laundering measures | €89,000 |
Boekhoorn’s Next Steps
A representative of Ramphastos Investments stated that the company is fully complying with the MFSA directive and is already in the advanced stages of implementing the required actions.
Key Points to Watch
- The deadline for divesting Novum Bank shares is six months.
- The sale will be completed after the conclusion of the Italian legal proceedings.
- All strategic decisions of the bank remain under the control of the board of directors.