Malta’s political scene is abuzz with whispers of ‘corruption’ as news breaks that former US President Donald Trump’s company, The Trump Organization, is under investigation for alleged stock market manipulation. Locally, politicians are questioning the ethics of such transactions, drawing parallels with Malta’s own struggles against financial impropriety.

Prosecutors in New York are reportedly examining whether Trump’s company violated securities laws by manipulating the stock price of a company he owned, L Brands, which includes Victoria’s Secret. The investigation, first reported by The New York Times, centers around a series of trades Trump made in late 2019 and early 2020, around the time he was impeached for abuse of power.

Trump’s legal team has dismissed the probe as politically motivated, but the allegations have sparked outrage among Democrats and raised questions about the former president’s business dealings. In Malta, where the political scene is no stranger to financial scandals, the news has been met with a mix of shock and resignation.

Opposition MP Jason Azzopardi was quick to draw parallels between Trump’s alleged stock manipulation and Malta’s own financial woes. “We’ve seen enough of this kind of thing in Malta to know how it can lead to corruption and abuse of power,” he said, speaking to Hot Malta from his office in Parliament.

Meanwhile, government MP David Agius dismissed the allegations as “just another attempt to discredit Trump.” But even within the ruling party, there were murmurs of unease. One government official, speaking on condition of anonymity, told Hot Malta, “This is not the kind of thing we want to see from a former US president. It sets a bad example, especially for countries like Malta that are trying to clean up their own acts.”

Malta’s own financial sector has been under intense scrutiny in recent years, following a series of high-profile money laundering scandals. The country has been working to implement reforms to clean up its image and comply with international standards.

But with Trump’s alleged stock manipulation now under investigation, some Maltese politicians are questioning whether the country’s reforms are enough. “We can’t just focus on our own problems,” said Azzopardi. “We need to be aware of what’s happening elsewhere, too. If a former US president can be accused of this kind of thing, what does that say about the state of global finance?”

Malta’s Finance Minister, Clyde Caruana, declined to comment on the Trump investigation specifically. But he told Hot Malta, “Malta is committed to the highest standards of financial integrity. We will continue to work with our international partners to ensure that our financial sector is transparent and strong.”

The investigation into Trump’s stock trades is still in its early stages, and it could be months or even years before any charges are brought. In Malta, politicians on both sides of the aisle are watching closely, waiting to see how the situation develops.

For now, the focus remains on Malta’s own financial reforms. But with Trump’s alleged stock manipulation under investigation, there’s a renewed sense of urgency to ensure that Malta’s financial sector is beyond reproach.

“We can’t afford to rest on our laurels,” said Azzopardi. “Not when we see what’s happening elsewhere in the world. We need to keep pushing for transparency and accountability, both here in Malta and on the global stage.”