Posts by tag: Cyta

Local News July 15, 2014

Kickback claims ‘baseless’ Kittis tells court

By Angelos Anastasiou

FORMER CyTA chairman Stathis Kittis, one of the accused in the ‘Dromolaxia scandal’, in which a plot of land was bought illegally from its Turkish Cypriot owner and developed using money from the semi-state telecoms company CyTA’s employee pension fund in exchange for kickbacks, testified before the Larnaca Assize court on Monday.

Kittis denied having received kickbacks from Nikos Lillis, who had undertaken developing the plot into the ‘Aero’ office complex. Lillis, the key witness for the…

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Kickback claims ‘baseless’ Kittis tells court

Auditor-general takes on CyTA over past sins

By Angelos Anastasiou

USING surprisingly blunt language, Auditor-general Odysseas Michaelides yesterday slammed the board of state telecoms company CyTA for consciously attempting to cover up the alleged wrongdoings of previous boards.

In a letter to board chairman Christos Patsalides, dated June 24th, Michaelides referred to an earlier letter from May, in which he asked the board to investigate the actions of previous administrations that may have led to the loss of money, leading to possible criminal or civil liability….

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Auditor-general takes on CyTA over past sins
Local News June 12, 2014

Chief detective sheds more light on ‘Dromolaxia’ scandal

By Angelos Anastasiou

THE trial of a suspicious land deal, purchased illegally from its Turkish Cypriot owner by the CyTA employees’ pension fund, continued yesterday with the cross-examination of police chief inspector Charalampos Mavrommatis, who led police investigations on the notorious ‘Dromolaxia’ case.

Businessman Nikos Lillis and his company, Wadnic, are key players in the case concerning the financing of a multi-million development project – the Aero Centre – in Dromolaxia from the CyTA pension fund, where hundreds of…

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Chief detective sheds more light on ‘Dromolaxia’ scandal
Local News June 3, 2014

CyTA board member cost pension fund €4m court hears

Charalambos Tsouris, a former board member at the Cyprus Telecommunications Authority (CyTA) was instrumental in striking the Dromolaxia land deal that cost the organisation €4m, a witness testified yesterday in the ongoing criminal trial.
Lead police investigator Christodoulos Mavrommatis told the court it was Tsouris who drafted a report for CyTA which led to a follow-up agreement to buy into a development project in Larnaca.
He said Tsouris’ report advocated the purchase of additional surface area, which raised…

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CyTA board member cost pension fund €4m court hears
Local News May 27, 2014

Auditor-general eyes actions of former CyTA board

By Elias Hazou

AUDITOR-general Odysseas Michaelides has indicated that the previous board of telecoms utility CyTA may be liable for criminal and civil offences, and is advising that the current board look into it.

In a lengthy letter addressed to the current CyTA (Cyprus Telecommunications Authority) board, the official advises that the board query their employer (the government) to recommend possible investigation of such offences by the Attorney-general.

Moreover, in a first for Cyprus where semi-governmental organisations are concerned, Michaelides…

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Auditor-general eyes actions of former CyTA board
Local News May 24, 2014

CyTA declares voluntary redundancy scheme a success

By Constantinos Psillides

CYTA’S VOLUNTARY redundancy scheme has proved a major success, according to CyTA spokesman Lefteris Christou who said on Saturday that 549 employees had opted to leave.

The deadline for applying for the redundancy scheme expired on Friday, and despite being one employee short of the set goal of 550, Christou said the take up rate was good news for CyTA.

“We estimate that the financial gain for CyTA would be around €250 million. The average compensation being…

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CyTA declares voluntary redundancy scheme a success
Local News May 6, 2014

Top AKEL MP denies link to dodgy land deal

A TOP AKEL MP denied being linked to a suspicious land deal in Larnaca involving the pension fund of state telecoms company CyTA, a court heard on Tuesday.

Police investigator Costas Constantinou told the court he had taken a statement from MP Nicos Katsourides who had acted on his own initiative.
In his statement, Katsourides said he called the police to clarify certain things claimed by another witness.
Katsourides said he had never spoken on the phone about…

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Top AKEL MP denies link to dodgy land deal
Local News April 29, 2014

Charges dropped against key witness in land deal case

By Staff reporter

The state has withdrawn charges against a 43-year-old businessman in connection with a suspicious land deal in Larnaca involving the pension fund of state telecoms company CyTA.

Nicos Lillis and his company, Wadnic, were key players in a major corruption scandal involving the funding of a multi-million euro development project – the Aero Centre – in Dromolaxia from the pension fund of state-owned telecoms company CyTA, with hundreds of thousands allegedly exchanging hands in kickbacks and greasing…

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Charges dropped against key witness in land deal case
Local News April 12, 2014

Lillis tells all in latest round of Dromolaxia scandal hearings

By Angelos Anastasiou

IT WAS entrepreneur Nikos Lillis’ turn to testify for the prosecution at the Larnaca Assize court yesterday in the controversial CyTA land scandal trial, in which eight defendants – seven persons and a legal entity – pleaded not guilty to all 28 charges presented against them last month.

The case involves a suspicious land deal in Dromolaxia paid for by the state telecoms CyTA employees’ pension fund. The seven defendants face 28 charges relating to the alleged…

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Lillis tells all in latest round of Dromolaxia scandal hearings
Local News April 8, 2014

CyTA voluntary redundancy scheme remains under the microscope

CyTA chairman Aristos Riris has sought to address the House Finance committee’s concerns over perceived excessive compensation offered to voluntarily exiting employees, while the semi-state authority wants to hire 50 employees despite the hiring freeze in the public sector.
In a letter to the committee dated Monday which was examined yesterday too, Riris referred to the company’s revised voluntary exit scheme, which is part of its three-year restructuring plan. The latest scheme had compensation offered to exiting employees cut…

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CyTA voluntary redundancy scheme remains under the microscope

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