Four individuals and three legal entities will face charges arising from Cyprus’ discredited citizenship by investment scheme, the attorney general’s office said on Friday, as it announced that a new case has been submitted to the courts.
The seven face a total of 15 charges over the granting of Republic of Cyprus passports to three foreign nationals under the now defunct scheme, the office said in an official announcement.
Based on the findings of a committee of inquiry chaired by former judge Myron Nicolatos, the charges concern among other conspiracy to defraud the Republic, fraudulent evasion of VAT payments and supplying false information in calculating VAT, it added.
“The offences were committed in the framework of the issue of three passports of the Republic of Cyprus to foreign individuals,” the announcement said. It did not elaborate.
The charges were submitted to the Nicosia district court, to be referred to trial to the criminal court.
In addition, on the instructions of the attorney general, police are continuing their investigations into cases arising both from the findings of the Kalogerou and Nicolatos reports.
“Some of these cases are at an advanced stage and are expected soon to be referred to the legal service for review and instructions,” it concluded.
Given the significance of the criminal cases and criminal investigation, the attorney general and his deputy underscored the importance of not publicising sensitive details of the cases so as to protect the investigations and procedures, comply with the principle of presumption of innocence and respect personal data.