Edward Banayoti

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Edward Banayoti (formerly known as Ernest Anderson)
Born Egypt
Nationality Canadian
Alma mater University of Toronto
York University[no citations needed here]
Occupation Founder of Defence Unlimited International
Spouse(s) Template:Marriage[1]

Edward Sawiris Banayoti, formerly known as Ernie Anderson, a businessman of Egyptian origin based in Canada.[2]


Banayoti started his entrepreneurial career in trading and real estate, where he purchased, and upgraded many hotels, which were then sold to a major hotel chain.[no citations needed here] He is also involved in commodities exports and trading from the American continent to Egypt and other African countries.[no citations needed here]

In 2015, he established Defence Unlimited International, a defence and security contracting company headquartered in Canada with various subsidiaries around the globe and operating internationally with over 240 consultants and a few security sub-contractors.[3]Template:Failed verification

Banayoti attracted attention in Malta when he made a bid for a 49.9% stake in Air Malta through his UK company Banayoti Holdings, he was the subject of many different newspaper articles concerning the bid.[4][5] His offer was rejected with a spokesperson saying, "His companies would not match government plans to identify a strategic partner which can assure a positive turnaround for Air Malta."[6]

This press coverage brought him to the attention of Daphne Caruana Galizia, a Maltese journalist who’s work specialised in anti-corruption. She investigated Banayoti’s activities in Canada under his former name Ernie or Ernest Anderson.[5][7] In an article posted on 14 November 2016, Daphne Caruana Galizia quotes directly from an Ontario Tribunal and CTV News, a national Canadian newspaper linking Banayoti to a "ponzi scheme".[8] According to the article, Anderson was investigated on suspicion of dealing in fake mortgages through his defunct company Golden Gate Funds.[5][9]

More than 150 other investors put over $8-million into Golden Gate Funds, run by Anderson, before the company went bankrupt. A case was heard before an Ontario Securities Commission (OSC) tribunal before a settlement was agreed in 2009 in which Mr. Anderson acknowledged using investor funds not to invest in mortgages, as he told investors, but to cover operating costs and make payments to previous investors. As part of the settlement, the OSC demanded $4.7-million in monetary penalties.[10][11]

Personal life

Ernest Anderson was previously married.[9]

In January 2016, Banayoti married Princess Aisha Bint Al Hussein.[12][13] When he converted to Islam, he took the Muslim name Ashraf Banayoti, but goes by his current legal name, Edward Banayoti. The couple divorced in Jordan in July 2016.[14]


  1. "Aisha of Jordan : The princess divorce, after less than 6 months of marriage". 12 July 2016. http://appnews.be/2016/07/12/aisha-of-jordan-the-princess-divorce-after-less-than-6-months-of-marriage/. Retrieved 24 April 2017. 
  2. "Arms dealer Ed Banayoti partners with MetOcean". 2018-04-11. https://www.intelligenceonline.com/corporate-intelligence/2018/04/11/arms-dealer-ed-banayoti-partners-with-metocean,108306587-bre. 
  3. "There’s another security-focused phone in Canada and it’s not a BlackBerry" (in en-US). Computer Dealer News. https://www.computerdealernews.com/news/theres-another-security-focused-phone-in-canada-and-its-not-a-blackberry/45206. 
  4. Camilleri, Ivan (2016-11-13). "New offer to buy into Air Malta" (in en-gb). https://timesofmalta.com/articles/view/new-offer-to-buy-into-air-malta.630790. 
  5. 5.0 5.1 5.2 Vella, Matthew (2019-04-09). "Defence consultant Edward Banayoti sets up EU base in Malta". https://www.maltatoday.com.mt/news/national/94174/defence_consultant_edward_banayoti_sets_up_eu_base_in_malta. 
  6. Camilleri, Ivan (2016-11-18). "No go on Air Malta offer, now it’s back to Brussels" (in en-gb). https://timesofmalta.com/articles/view/no-go-on-air-malta-offer-now-its-back-to-brussels.631399. 
  7. ""Government Notices — Other: Change of Name Act". https://www.ontario.ca/document/ontario-gazette-volume-148-issue-12-march-21-2015/government-notices-other. 
  8. "So what sort of Ponzi scheme did Edward Banayoti run when he was called Ernest Anderson?" (in en-GB). 2016-11-14. https://daphnecaruanagalizia.com/2016/11/sort-ponzi-scheme-edward-banayoti-run-called-ernest-anderson/. 
  9. 9.0 9.1 Popyk, Tom (2010-04-24). "Golden Gate Funds leaves a trail of lost investments". https://www.ctvnews.ca/golden-gate-funds-leaves-a-trail-of-lost-investments-1.505747. 
  10. Gray, Jeff; McFarland, Janet (2013-08-24). "Crime without punishment: Canada’s investment fraud problem". The Globe and Mail. https://www.theglobeandmail.com/report-on-business/crime-and-no-punishment-canadas-investment-fraud-problem/article13938792/. 
  11. "Settlement Agreement Between Staff and Ernest Anderson and Golden Gate Funds LP". 2009-09-25. https://www.osc.gov.on.ca/documents/en/Proceedings-SET/set_20090925_andersone.pdf. Retrieved 26 June 2019. 
  12. "CANADA : Arms broker Banayoti woos EU" (in en-US). Intelligence Online. 2017-04-05. https://www.intelligenceonline.com/due-diligence/2017/04/05/arms-broker-banayoti-woos-eu,108228883-art. 
  13. "Princess Aisha Bint Al Hussein Gets Married". Arabia Weddings. 2016-01-29. https://www.arabiaweddings.com/news/princess-aisha-bint-al-hussein-gets-married. 
  14. "Princess Aisha, Edward Banayoti divorced". Jordan Times. 2016-07-01. http://www.jordantimes.com/news/local/princess-aisha-edward-banayoti-divorced. 

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