Michelle Muscat’s philanthropy: Gives less, spends more

Michelle Muscat, wife of disgraced former prime minister Joseph Muscat, spent more than double the amount of funds received by the Marigold Foundation in 2022 on events rather than donations to other organisations,  according to the latest financial declarations obtained by The Shift.

While it declared receiving donations of some €169,000, mostly from its main sponsor, the government-controlled Bank of Valletta, and other government entities, it spent 66% of its yearly income on events, primarily promotional opportunities for the former prime minister’s wife.

Less than €54,000 was distributed in donations to support other NGOs and those in need, which is supposed to be the Foundation’s mission.

Still bearing the name of its main sponsor, Bank Of Valletta, The Marigold Foundation’s accounts for 2022, signed off by auditor Charles Scerri, show that the Foundation, managed primarily by Muscat, registered a deficit of almost €12,000 in 2022.

The documents submitted to the Voluntary Organisations Commissioner, as required by law and signed by the administrator, FMS CEO Robert Xuereb, are scant on details of who received donations, the costs of events including several parties, who was paid for logistics, catering, administration, and other expenses.

The only significant comment in the financial report was a direct reference to Michelle Muscat, aimed at praising her contribution.

“The foundation’s financial standing is substantially aided by the fact that the chairperson, who is one of the co-founders, Michelle Muscat, dedicates substantial time to the work of the entity without being remunerated,” the financial statements emphasise.

Several government employees selected by Muscat have been seconded to work full-time for Michelle Muscat and paid by taxpayers.

These include two assistants who work as Muscat’s personal drivers, taking her children to school while driving them around for errands.

Joseph Muscat and Michelle Muscat have had their assets frozen (€30 million) as the former prime minister has been charged with bribery, fraud, and money laundering.

Set up in 2014, at the height of Muscat’s popularity, The Marigold Foundation was initially set up by the Bank of Valletta, but Michelle Muscat took control in 2019, just before her husband’s forced resignation, through a token sum of €100.

Despite recent charges, BOV has not withdrawn its endorsement of the Marigold Foundation.

Between 2017 and 2019, more than €300,000 in taxpayer funds were donated to the Foundation.

                           

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13 Comments
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Mick
Mick
24 days ago

Obviously the BOV is still on the habibs list.

wenzu
wenzu
24 days ago

This is one of the reasons my money is leaving BOV for good. A bank controlled by crooks, not bankers.

Nigel Baker
Nigel Baker
24 days ago

How on earth does a politician accrue personal assets totaling 30 million euros?

Carmel Sammut
Carmel Sammut
24 days ago
Reply to  Nigel Baker

And that’s small change! How about Crypto Currency, Dubai deposits, Swiss deposits and God knows where else.

Toni Borg
Toni Borg
24 days ago

Parties, make ups, hairdoes, pricy hand bags…..and the poor and needy begging in the street to live another day.

What hypocrites! What criminals!!!!

saviour mamo
saviour mamo
24 days ago

It seems to me that the 30 million assets freezing didn’t affect much the Muscats.

Austin Sammut
Austin Sammut
23 days ago

She’s undoubtedly a fraud. But better keep an eye on FMS.

joe tedesco
joe tedesco
23 days ago

ANOTHER UNTRUSTWORTHY PERSON.

S. Camilleri
S. Camilleri
23 days ago

When will BOV shake off its stupor and start showing respect towards its clients by safeguarding their assets?!

Mick
Mick
22 days ago

I do believe that she’s busy out in Barbados training a team to support her super fast swimming appearances and to gather some rich sponsors

Roger Calleja
Roger Calleja
22 days ago

It would be interesting to know how many people at the Marigold foundation are employed, who they are and what their salaries consist of.

Aggie
Aggie
22 days ago

If their accounts are frozen, who is funding them and their current lifestyle ?

Robert pace bonello
Robert pace bonello
20 days ago

How can the NATIONAL BANK OF MALTA be associated with the wife of a corrupt prime ministet in a supposedly charity which is, at best, rather shady?

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