Unemployed ‘loan shark’ has nearly €700,000, 15 vehicles and 19 properties frozen

Keith Pace, 46, and unemployed from Marsa, who was arraigned with five family members last February on money laundering and usury charges, had almost €700,000 in assets, alongside 15 vehicles and 19 properties frozen, according to a new freezing order imposed by the Court.

His partner, Maria Rosaria Grixti and his son Carlos also face usury charges. His stepson, Cleaven, is charged with breaching bail conditions, while  Pace’s parents, Lawrence and Emanuela, were charged with money laundering.

All six deny the charges.

Cash, rental income, loans, interest receipts and a collection of vehicles feature in the order, months after police testimony described Keith Pace as officially unemployed.

The freezing order against Keith Pace specifies €685,954 in assets, with property interests and a Revolut account listed separately. Neither the properties’ values nor the account balance is disclosed.

The largest components include €146,899 in cash found at a Marsa residence, €145,410 lent to various people and €179,100 in interest paid by borrowers.

Another €94,075 is attributed to rental income, without a stated period.

The order also lists 15 vehicles, including a Yamaha watercraft, collectively valued at €109,300.

These include an Isuzu DMAX, two Mercedes vehicles, an Austin Mini Moke and a BMW.

The 19 property entries associated with Keith Pace span Marsa, Santa Venera, Tarxien, Sliema, Ħamrun and Pietà, and include flats, residences and garages. The notice does not specify ownership shares or establish that he owns every property outright.

Carlos and Cleaven are also listed as unemployed; his partner, Maria Rosaria Grixti a housewife, and his parents, Lawrence and Emanuela as pensioners.

During recent proceedings, prosecutors alleged that recorded prison calls showed Keith continuing to issue instructions to his partner while incarcerated. Pace told the court he lived off rental earnings.

In March, a police inspector testified that Pace was officially listed as unemployed and had received approximately €53,000 in social security benefits between 2014 and 2025.

The court also heard that he had previously been arraigned around 40 times on various charges.

In February 2025, Pace pleaded guilty to threatening and insulting journalists outside court and received a suspended sentence.

The incident occurred during proceedings concerning an alleged cannabis theft from military barracks guarded by the Armed Forces of Malta.