While shuffling through the old news section of ‘The Sunday times news of Malta’, I came across a name that surged my interest for knowing more about him.
Edward Banayoti who owns Banayoti holdings Ltd and is currently in talks about the purchase of 49.9% of Air Malta, must have raised brows of many looking for the deal. The guy has already made a formal offer to the Maltese government.
A statement made by one of the spokespersons from Banayoti was reflected in the Sunday times.
“We can confirm that talks with the Office of the Prime Minister and other senior government officials are ongoing and that we have submitted a formal offer for the minority shareholding in Air Malta (49.9%), currently for sale. We are now awaiting an official response from the government.”
The confirmation about discussing the matter formally with Banayoti is already in air. However, the government has given no further hints about the formal agreement between them. As per the negotiation agreement with Alitalia, government cannot open any formal discussion with any other party, until the deal with the Italian airline are terminated formally.
The Sunday times was able to find a lead and exposed the government for breaching the Alitalia’s negotiation agreement by making an attempt to open the conversation for the Air Malta sale with Edward.
When I was scrolling down the news, I couldn’t resist myself from trying to find more about the billionaire Edward Banayoti, for whom the government of Malta has gone beyond the negotiation agreement to serve him. That was when the socking story came out front, side lining the current negotiation talks.
Who is Edward Banayoti?
When I tried to google about him, I found none of the information that dated back 2015. Banayoti is a billionaire and that made me presume of his huge online history with lots of businesses around the world. However, I was disheartened to find such little detail about him.
I continued my search and discovered that the guy was married to Princess Aisha who is a major-general in the Jordanian army and lives in Washington. Here she is a defence attaché at the Jordanian embassy. Their marriage tool place on 27 January 2016. However, it did not last long and only after four weeks, they got separated. The divorce happened in July.
This information did not make much difference until I found a secret about the guy. Edward Banayoti, who offered his interest for buying the minority shareholding in Air Malta, is none other than Ernie or Ernest Anderson. He changed his name from Ernest to Edward Banayoti under the Canadian law. The smog started clearing and I could relate the intention of the marriage that took place right before he changed his name.
This helped him find a cover for his long history of scams and frauds. And, that was the reason, there is not much mentioning of his past business under the name of Edward Banayoti. In short, Edward is a con artist who has lived his life with aliases.
An insight into the past of Ernest Anderson
Ernest is from Egypt and migrated to Canada and got the Canadian citizenship. This is when he changed his name to Ernie Anderson. Being an Egyptian, he was not aware of the fact that Ernie was a nickname. Hence, he started mentioning himself as Ernest while on legal papers, he remained Ernie. However, I couldn’t find a reference to the original name as there were no online access years ago.
After changing his name, Ernest Anderson became an investment adviser without a licence in Ontario. He owned Golden Gate Funds, which was unlicensed too. This firm lead to multiple penalties totaling for $4 million. After this, he was barred forever from acting as an investments advisor.
In August 2013, a Canadian newspaper described about the huge loss of 150 investors who invested more than $8 million to this firm. Later, when the firm died, Ontario Securities Commission tribunal heard the case and imposed a fine of more than $4 million on Ernest Anderson. The court could not impose jail sentence. So, he managed to get away with the fraud. According to the last update on the matter, the penalties have not been paid till date.
Edward Banayoti and his current companies
When I got access to a pdf that listed the names of the individuals who changed their names, I came with a proof of connection with Edward and Ernest as the same person. The pictures posted with the blog are of Ernest Anderson (left) and Edward Banayoti (right). One, when he was younger and slimmer and the other the age factor. But, both pictures has the same person in it, Edward Banayoti.
I checked the company that are registered with the name of Edward Banayoti and found out two names. They both have the UK address of a virtual office which provides letter boxes with no office premise.
The company address is ‘239 High Street Kensington’. This is a flexible office building where he is not having a proper space but a mail service. Edward Banayoti’s offices in in Mississauga and Toronto are also ‘virtual addresses’ operated by the Regus, a rental company.
This clearly indicates that the name has only changed to hide his intentions, but not to change them.