Disgraced former prime minister Joseph Muscat has joined the board of directors of IKAR Holdings Limited, an international holding company and investment group for over 35 businesses operating in Europe, the Gulf states and Africa, according to a press release on Monday.
IKAR CEO Mario Diel described the former prime minister, who resigned in disgrace following widespread protests against government corruption in 2019, as “a distinguished statesman, a brilliant analyst, and visionary intellectual”.
One of IKAR Holdings’ subsidiary companies, Turkish BolaWrap, was contracted to supply the Malta Police Force with their product in May. The company produces a taser-like device that fires a rope to restrain suspects, marketed as a “compliance device”.
Besides forming part of IKAR Holdings’ board, Muscat is also listed as a board member for subsidiary IKAR Construction, a London-based contracting company offering construction, site management, and engineering services.
Muscat’s new venture with IKAR is the latest in a series of reputation laundering attempts by the former prime minister following his not-so-distinguished resignation, with IKAR Group President and BolaWrap CEO Sertan Ayçiçek saying he admires Muscat’s “extraordinary success as a political leader and former Prime Minister, as well his vision about the execution of successful leadership in the business world”.
On his part, Muscat said he was “fascinated” by IKAR’s vision of “supporting the next generation of potential leaders, both on the operational level of the group and in particular in their activities in the world of education,” a practice which he said “is very much in line with my own values and future activities”.
In his comment, Muscat did not elaborate on what those values and future activities might be.
A LinkedIn post by Sertan Ayçiçek celebrating Muscat’s membership – Photo: LinkedIn
In a LinkedIn post announcing Muscat’s membership, Diel and Ayçiçek addressed him as “your excellency”, a title usually reserved for high-ranking national officials, a role which Muscat no longer occupies. IKAR’s ‘Industries’ and ‘Aviation’ subsidiaries similarly celebrated his membership.
IKAR Aviation is another subsidiary of IKAR Industries, itself a subsidiary of IKAR Holdings, which produces a modernisation package for the Sikorsky Black Hawk helicopter.
IKAR Holdings’ subsidiaries span multiple sectors including energy, sports, technology, cyber security, real estate, hospitality, textile, education, construction, aviation, defence, and health, but are generally involved in the role of an investment partner.
Il-Malti jgħid, “Kull par għal paru” u “Għidli ma’ min tagħmilha u ngħidlek x’int.”
Ma nagħmlux mod li dan xi job bħal dawk il-konsulenzi mkallati hux? Qed nistaqsi jien…
Who says crime does not pay?
ajma xi hruq ta’ stonku ghandkom
“Most notably his administration led to large-scale changes to welfare with the introduction of social benefit tapering policies, increases in minimum wages and introduced private sector involvement in healthcare. His directional change resulted in economic growth of over 6%, the elimination of the public deficit and a decrease in the public debt burden.”
This IKAR eulogy about Muscat says more about IKAR than about Muscat himself.
“A delinquent statesman, a brilliant anal’ist, and a doubious intellectual”
I wish IKAR the best of luck.
They are going to need it.
Thats is unless you are going to invest in a Laundry and dry cleaning.business, he is good at that..
They should make Joseph the Sultan of Stealitstan or something like that and keep him there, else we will end up paying for his stay at the Auberge!
His excellence in corruption muscat, keeps trying to get himself into anything that smells of money. From 3rd division footall teams in italy , where gambling on the game results makes money to conglomerations that have their fingers in corrupt countries pies.
https://menafn.com/1103866360/IKAR-raises-70-Million-Euro-from-entrepreneur-and-multiple-investor-Boris-Verhey
Look at the last paragraph.
My interpretation of this paragraph.
A Company with the intention of taking over the world major countries by training young politicians as a team ” Free Mason Type” organisation . No wonder Muscat is there.
Keep him and give him an office near rajib erdogan – suits him to be near another corrupt leader.
no extradition agreement exists between Malta and Turkey and mixelle prepared the way as she was seen travelling to Turkey where dirty money is laundered.
Diplomatic passports come in handy,