‘We will not be sacrificed on the altar of other interests’

A massive volume of evidence has been gathered by investigators looking into the suspicious naturalisation of foreign investors, with the fourth case alone – involving former Transport Minister Marios Demetriades – filling 200 box files.

Demetriades has been charged with offences related to corruption, bribery and money laundering in the golden passports scandal.

A meeting was held on Tuesday morning at the Law Office, chaired by attorney-general George Savvides, to look into all cases still being investigated and instructions were given to the Law Office on how to handle them.

The chief of police and investigators were also present.

Police spokesman Christos Andreou confirmed a number of other cases are being investigated.

He said eight individuals and two legal entities have been charged in the Demetriades case and are facing a total of 59 charges.

Among the individuals who will appear before the Nicosia district court on October 30 are Demetriades, who said on Monday he was being made a scapegoat and that his targeting was predetermined.

“For three full years my personal, family and professional life has been thoroughly checked, as have all my political decisions [and] no fault was found,” he said.

“I have absolute trust in justice, knowing that in the end truth and justice always prevail,” Demetriades added.

Investigations began in July 2021 after a government-appointed, independent commission of inquiry in November 2019 to look into the naturalisation of investors submitted a report.

The case started to unravel through investigations into the naturalisation of three people from Cambodia – a couple and their grown son – which had been processed by the law firm in question.

The case was filed against Demetriades at the Nicosia district court on Friday in relation to Cyprus’ investment programme.

Demetriades is also charged with intervening in the procedure of approving naturalisations.

The charges relate to when Demetriades was on a trip to China as a member of the government.

Those indicted include Demetriades’ father and two siblings, with interests in the family’s law firm, through which the naturalisations were being made.

The Demetriades family law firm hit back on Tuesday by claiming they had been targeted with the purpose of shifting the blame for the misapplication, shortcomings and inherent problems of the now-defunct citizenship-by-investment programme.

“The commencement of the legal process will enable us to articulate our position and arguments to highlight the reality of the facts, in the face of false and driven testimony, unsubstantiated assumptions, unstable assessments and arbitrary conclusions,” Andreas Demetriades & Co LLC said.

“The aim is clear: An unprecedented, limitless targeting of us, to serve other purposes,” the firm said.

“Some are looking for scapegoats. We will not be sacrificed on the altar of other interests.”

A lawyer working for the firm, a foreign investor, a member of staff at Cyprus’ embassy in China and her spouse are also being charged.

Over the next few days, those involved will be handed the indictment.

A proposal for criminal prosecutions was first made in September 2023 as police had reason to believe offences had been committed regarding the naturalisation of 19 investors.

Investigators gathered evidence according to which the man married to an embassy employee played a key role in attracting interested people, who paid for their ‘golden passports’ and part of the amount ended up in the hands of a third party.

Furthermore, a published affidavit given by a police officer referred to the role of the law firm and the family relationship of a political figure with the founder of the firm.

The police officer said emails were found indicating that the firm was using its relationship with the political figure to attract clients.

An arrest warrant is pending against a Chinese man, holder of a Cypriot passport, who tried to annul the court order, which the Supreme Court dismissed in September 2023.

Demetriades, a minister in Nicos Anastasiades’ government, resigned from his post on February 12, 2018.

A year earlier, in February 2017, he had refused to step down despite a storm of calls for his resignation over problems at Limassol port.

On April 27, 2021, the interim findings of an investigation into the citizenship-by-investment scheme were released, recording a litany of irregularities and outright unlawful practices in the granting of Cypriot passports down the years.

A month later, on May 25, 2021, Marios Demetriades’ brother, Demetris, testifying under oath, flatly denied the former minister had anything to do with applications filed by their family’s law firm on behalf of foreign nationals seeking a Cypriot passport or permanent residence under the now-defunct citizenship-by-investment programme.