Joe Cordina withdraws candidature, denies involvement in oil scandal

Labour candidate and party financial administrator Joe Cordina this evening withdrew his candidature for the general elections and suspended himself from his role as party financial administrator.

The resignation comes in the wake of statements by Finance Minister Tonio Fenech claiming that Cordina was "behind the oil scandal", as the director-shareholder of Intershore Fiduciary Services - the nominee company that owned George Farrugia's Aikon Ltd, before the trader assumed full ownership in January 2011.

"I categorically and strongly deny that I ever were involved in this scandal. This allegation is just part of the mudslinging campaign which the PN has embarked on to divert the attention from the scandal that occurred under the leadership of Prime Minister Lawrence Gonzi," Cordina said.

Cordina also denied that no monies were ever transferred through Intershore Fiduciary Services Ltd and which had anything to do with the oil commissions scandal.

"This general election is too important for Malta to allow the Nationalist Party to use me, in a bid to deviate the attention from the real issue and put the PL under bad light."

Cordina added that he would defend himself from the "unfounded allegation" made by the PN and the finance minister.