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Mistral Pay Ltd.: €32K Fine

Public Announcement by the Malta Financial Services Authority that it has imposed a fine of €32,400 on Mistral Pay Ltd. "and has allowed the Institution to start the process for the voluntary surrender of their licence under the Financial Institutions Act". Editor's Note: Research by OffshoreAlert in the Malta Business Registry showed that Mistral Pay Ltd. was incorporated in Malta on January 27th, 2014, its directors are Joseph Mary Formosa, a citizen of Malta; Conrad Micallef, a citizen of Malta, and David Axel Trincia, a citizen and resident of Italy, its previous directors include David Marinelli, who resigned effective October 28th, 2019, and its shareholders are DM Capital Ltd. and MPHOL International Limited, both of Malta. DM Capital Ltd.'s directors are David Marinelli and its shareholders are SAFI Holdings, of Malta, and David Marinelli, while MPHOL International Limited's sole director is Ivano Luigi Porretiello, of Italy, and its shareholders are Easy Network SRL, of Italy; Sofia Inaudi, a citizen of Argentina with an address in Italy; David Marinelli, and Ivano Luigi Porretiello.
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Date:

October 22, 2020

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Regulatory


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