The Legal Service will examine whether evidence gathered during the VideoGate investigation supports possible offences involving two individuals, it was reported on Wednesday.

Government investigator Andreas Paschalides identified two areas warranting further assessment despite concluding that no offences had been established under the criminal code.

The review will focus on possible offences under the Council of Europe’s criminal law convention on Corruption Ratification Law of 2000, including provisions relating to bribery, trading in influence and money laundering.

The assessment will determine whether evidence collected during the investigation is sufficient to justify any further legal action.

The development comes as lawyer Antonis Demetriou, who represents Black Cube’s chief executive and two company operatives involved in the undercover operation, defended the company’s actions, insisting it acted solely for commercial purposes and not on behalf of any state, political party or political figure.

Speaking to Politis Radio, Demetriou said the police had verified the authenticity of the audiovisual material handed to investigators.

“The police certified the authenticity of the audiovisual material delivered to investigators in the VideoGate case,” he said, arguing the recordings were “neither fabricated nor false” and that editing excerpts from approximately 26 hours of footage did not alter their meaning.

Demetriou said Black Cube had sought legal opinions in both the Netherlands and England before conducting the operation.

He added that the company’s chief executive travelled to Cyprus three times to give statements to police, while the two operatives each provided one statement and fully cooperated with investigators.

He also claimed the recordings contained references to “access to the Presidential Palace”, “bypassing laws” and “financing election campaigns”, while making clear there was “no communication with the President of the Republic” contained in the material.

Demetriou’s comments follow Paschalides’ findings, published on Monday, which concluded there was insufficient evidence to establish criminal offences under the criminal code but highlighted two issues requiring examination under anti-corruption legislation.

The first concerns confidentiality and service agreements signed between three Cypriot participants and the purported investors, under which two individuals allegedly received financial benefits.

The second relates to whether the actions, representations, promises, statements and overall conduct of those involved could amount to offences under anti-corruption legislation.

Although Paschalides said investigators examined those possibilities, he also stated that both he and the police investigative team had reservations over whether such offences could ultimately be substantiated.

Separately, Black Cube reiterated its position that the recordings exposed genuine corruption in Cyprus, saying it “stands firmly behind its evidence”.

The company said the authenticity of its material had been verified by Cypriot authorities and expressed confidence that the Legal Service’s assessment would result in “those responsible” being brought to justice.

The VideoGate affair centred on undercover recordings published earlier this year which appeared to show senior political and business figures discussing campaign financing, political patronage and access to government.

The publication prompted the resignation of President Nikos Christodoulides’ then chief of staff Charalambos Charalambous and First Lady Philippa Karsera Christodoulides from her role as chair of the social support agency.