Gambling Magnate Marcel Boekhoorn Ordered to Sell Novum Bank Shares
Malta Financial Services Authority Orders Divestment
Dutch billionaire Marcel Boekhoorn, a significant figure in the gambling investment arena, has been instructed by the Malta Financial Services Authority (MFSA) to sell his shares in Novum Bank. This directive follows the loss of his “fit and proper” status with the regulator.
Background on Boekhoorn and the MFSA Decision
Boekhoorn, renowned for his investments including a stake in casino game developer Habanero Systems, is one of the wealthiest businessmen in the Netherlands with an estimated fortune exceeding EUR 1.9 billion (around $2.2 billion). The MFSA has provided him with a six-month period to comply with the order to divest his holdings. This directive will remain until ongoing legal matters in Italy are resolved.
Although the MFSA has not detailed the exact nature of these proceedings, reports indicate that Boekhoorn faces criminal accusations in Reggio Calabria. The charges center on allegations involving funds or assets obtained through illicit means. Specifically, Boekhoorn and his associates are suspected of using money linked to mafia-related criminal activities, via a business partner, to gain an 80% ownership stake in a casino game design firm through Boekhoorn’s private equity entity, Ramphastos Investments.
Responses from Boekhoorn’s Investment Firm and Novum Bank
A representative of Ramphastos Investments conveyed that the firm is committed to fully adhering to the MFSA’s directive and has already made significant progress in implementing the necessary steps. They emphasized that this order does not affect the day-to-day operations or financial stability of Novum Bank either locally in Malta or on an international scale.
Similarly, Novum Bank’s spokesperson reassured that the MFSA’s decision and its enforcement will not impact the bank’s governance, operational procedures, or financial health. The bank operates under stringent governance policies that conform to regulatory standards, ensuring strong institutional independence.
All key strategic and operational decisions are managed by Novum Bank’s board of directors, which is predominantly composed of independent non-executive members to uphold proper oversight and governance.
Previous Regulatory Scrutiny on Novum Bank
This is not the first instance that Novum Bank has been under regulatory examination in Malta. In 2022, the Financial Intelligence Analysis Unit (FIAU) fined the bank EUR 89,000 (approximately $94,300) due to deficiencies identified in its anti-money laundering controls.
Earlier, in 2019, an inspection revealed the bank had failed to clearly establish the purpose of a EUR 16 million (about $17 million) client transfer and had inadequately reviewed multiple transactions ranging between EUR 400,000 and EUR 2 million (roughly $424,000 to $2.12 million).
