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James Scerri Worley, and the withdrawal of license of Money + Card Payment Institution Ltd

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James Scerri Worley is a practicing lawyer in Malta. He was an official of Money + Card Payment Institution Ltd d/b/a epayzz (www.epayzz.com) which had its license revoked by the Malta Financial Services Authority (MFSA). The company did not possess enough funds to cover the minimum required by law and did not meet its governance requirements. James Scerri Worley being an integral part of the company, also faced other decisions by the Authority. MFSA decided that Money + Card Payment Institution Ltd should wind up its business.

James Scerri Worley

Money + Card Payment Institution Ltd is doing business as Money+Card and as epayzz. Its registered office is at 19 Saint Mark Street, Valletta, Malta. This is the same address used for the offices of Primei Law, headed by James Scerri Worley. They also offer fiduciary services via Primei Fiduciary Ltd.

On the epayzz website, Money+Card Payment Institution Ltd still presents itself as an MFSA-regulated institution. Old habits die hard, right?

James Scerri Worley (picture) is also the founder of Advocates Primei, operating from Valletta, Malta. He also acts as a Director of Avanzia Taxand Ltd (link to website).

Worley was also highly involved in a serious investigation whereby he acted as company secretary. Reports stated that there was a money-laundering investigation related to Maugeri Foundation. However, James Scerri Worley was quoted saying that he did not know about such an investigation. The inquiry then resulted in the uncovering of a €56 million money-laundering system by the Maugeri Foundation, an institution in biomedical research in Italy.

Despite being involved in these high-profile cases, James Scerri Worley has managed to secure a seat within The Institute of Financial Services Practitioners (IFSP) in Malta (link to website). However, it is not clear how he has so far managed not to be fired from IFSP.

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