The golden passports trial, involving ten individuals and companies, has been postponed until December 19 by the Nicosia criminal court. This case revolves around the controversial issuance of Cypriot passports to foreign nationals and includes former transport minister Marios Demetriades among the defendants.
- The law firm at the centre of the case has faced scrutiny for its involvement in these dubious applications, highlighting potential systemic issues within the naturalisation process.
The group faces serious allegations, including corruption, bribery, extortion, conspiracy to defraud, and money laundering. Notably, eight of the defendants are individuals, while two are firms, namely Andreas Demetriades & Co LLC and Delsk (Cyprus) Business Services Ltd.
In a significant twist, all defendants, including Demetriades, have pleaded not guilty. Demetriades served as a minister under former president Nicos Anastasiades from 2014 to 2018, and he claims he is being unfairly targeted as a scapegoat.
Central to the case is Demetriades’ family law firm, which has been linked to the approval of 137 naturalisations during cabinet meetings he attended. This information emerged from interim findings of an investigation into the ‘golden passports’ scheme conducted in 2021.
Compounding the situation, the criminal case was initiated a year ago, following suspicions that improper dealings occurred regarding the naturalisation of 19 foreign investors. A particular focal point in the investigation is an individual married to a former Cypriot embassy official in China, who reportedly played a crucial role in facilitating these transactions.
Reports reveal that police suspected that commissions of up to 25 per cent were paid for the issuance of passports, with funds flowing through various companies before reaching certain individuals. This complex web of financial transactions came to light during investigations into the citizenship granted to three Cambodians who allegedly obtained Cypriot nationality under false pretences.
The law firm at the centre of the case has faced scrutiny for its involvement in these dubious applications, highlighting potential systemic issues within the naturalisation process.
