€57 Million Freezing Order Against Libyan Man in Żurrieq on Money Laundering Charges
A Maltese court issued a €57 million freezing order against Nasr Edin Jeray, accused of running a money laundering organisation, before granting him bail.
€57 Million Freezing Order Issued Against Żurrieq Resident
A Maltese court has imposed a €57 million freezing order on Nasr Edin Jeray, a 53-year-old Libyan-born resident of Żurrieq, following accusations that he helped run a money laundering organisation, Times of Malta reports. Four cars and additional assets were also seized as part of the order.
Jeray appeared before Magistrate Gabriella Vella and pleaded not guilty to the charges against him.
A financial investigation into a third party initially led police to Jeray, whom investigators identified as one of several individuals allegedly operating the laundering network. Officers requested an arrest warrant and detained him at his Żurrieq residence on Wednesday.
The prosecution, led by Inspectors Ton Joe Farrugia and Francesco Farugia and assisted by Attorney General lawyers Alessia Schembri and Neville Galea, left the question of bail to the court's discretion, while emphasising that any conditions should reflect the gravity of the charges.
Defence lawyer Kris Balzan argued that Jeray had lived in Malta for many years and that the case rested on a single civilian witness, presenting minimal risk of interference with evidence.
The court granted bail subject to strict conditions: Jeray must not travel outside Malta, make contact with witnesses, or commit further offences. He is required to sign the bail book twice daily. The court also set a cash deposit of €20,000 and a personal guarantee of €100,000.
Source: Times of Malta