Cyprus’ former Transport Minister, Marios Demetriades, has been charged in the Golden Passport program for offences related to money laundering, corruption and bribery.
In addition, the police under Law Office supervision, are investigating over 20 naturalisation cases acquired through the Citizenship by Investment scheme of Cyprus, Schengen.News reports.
Cyprus’ former Transport Minister is also charged with intervening in the procedure of approving naturalisations, according to a report from Philenews. The charges include a trip that Demetriades made to China as a member of Cyprus’ government.
The indictment consists of over 50 charges against eight persons and two legal entities. These include the father of the former Transport Minister and two siblings, with interests in the family’s law firm, through which the naturalisations were being made.
In addition, a lawyer working for the firm, as well as a foreign investor, a member of staff at Cyprus’ embassy in China and her spouses are also being charged.
According to Cyprus Mail, in the following days, those involved in irregular affairs through the Golden Passport scheme will be handed the indictment while the procedure to take the case to Nicosia criminal court is planned for next month.
In this regard, Demetriades said that he was being made a scapegoat, stressing 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. I have absolute trust in justice, knowing that in the end truth and justice always prevail.
The Transport Minister’s family law firm said that they had been targeted with the purpose of shifting the blame for misapplication, shortcomings, and inherent problems of Cyprus’ Golden Passport Program, which is no longer effective.
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.
Cyprus Scrutinising 100 Citizenships Granted Through Golden Passport Scheme
The Golden Passport Program of Cyprus allowed internationals to acquire citizenship in this country in exchange for financial investments and meeting some other required conditions.
However, a report from Al Jazeera revealing the program’s involvement in irregular affairs such as money laundering and corruption led to the termination of the scheme by authorities in Cyprus in 2020.
Cases related to the acquisition of citizenship through this program are continuously being examined carefully by authorities in this country.
In May alone, the country’s authorities reported that police are scrutinising a total of 100 citizenships granted through the Golden Passport program of Cyprus.
