Lands Authority CEO James Piscopo only flagged his personal business interests and potential conflicts of interests a day after receiving questions by Times of Malta.
The regulator’s chairman, Judge Lino Farrugia Sacco, confirmed that the board of governors was informed by Mr Piscopo about his business interests on September 28. Mr Piscopo was appointed in July.
A set of questions on business partners and his potential conflict of interest in negotiations with the Fortina Hotel shareholders were e-mailed to Mr Piscopo On September 27.
The Sunday Times of Malta reported that Mr Piscopo owned shares in two private companies together with the owners of the Fortina Hotel.
Judge Farrugia Sacco said Mr Piscopo informed the board of his interests in two companies and that he had sold his stake in one of them and was in the process of selling his shares in the other.
Upon Mr Piscopo’s request, the board “felt that he should not be involved in negotiations with the Fortina Hotel”, the chairman added.
Questions to the chairman on whether Mr Piscopo’s ‘disclosure’ was made within the parameters of the law and if the board would be taking action against the CEO over a potential infringement…
