CyTA boss Stathis Kittis should have submitted his resignation pending the outcome of an ongoing investigation into a suspicious land deal involving the telecoms company’s pension fund, Interior Minister Socrates Hasikos has said,
The land in Dromolaxia, next to Larnaca airport was bought in 2007 from its Turkish Cypriot owner by the Greek Cypriot company Wadnic Trading Ltd. It was purchased at €1,273,770 but was valued at more than double this – €2,970,000 – by the land registry when calculating the transfer fees.
Allegations have surfaced that millions of euros had been given to grease the deal, intimating corruption across the spectrum, from within CyTA itself, to an MP, a political party and unions.
Commenting on statements made a few days ago by Kittis that he was cooperating fully with the investigation Hasikos said: “You can not be under investigation for a scandal of this magnitude and at the same time preside over an organisation like CyTA.”
It was a matter of ethics, said Hasikos. “He should have gone home until further notice.”