Two New Case Files to Cyprus Law Office Related to Golden Passport Scheme

Police officials in Cyprus have submitted two new case files to the Cyprus Law Office, regarding the country’s Golden Passport scheme, indicating they go to trial, according to a report of In Cyprus.

The two new cases that are related to two different law firms functioning as service providers are involved in an inquiry committee findings, under Myron Nicolatos, who investigated Cyprus’ Citizenship by Investment program, also known as the Golden Passport scheme, reports.

The figures provided by Phileleftheros newspaper show that about 130 cases have opened following the probes into the Cyprus, Golden Passport, following the investigative report published previously by Al Jazeera, which brought to light the program’s involvement in many unlawful affairs.

Up to this point, investigations into seven naturalization cases have been completed, and four of them going to trial.

Earlier this month, it was reported that nine suspects in the first case related to the Cyprus Citizenship by Investment Program were cleared of all charges by Larnaca Criminal Court.

In addition, it was reported that five individuals together with four legal entities, taking into account a famous Lacrana lawyer and his business associates stood trial after reports of being involved in unlawful affairs such as granting Cypriot citizenship through the Citizenship by Investment scheme.

The defendants were subject to a total of 36 charges while they were also suspected of granting citizenship to an Iranian citizen who was part of Interpol’s wanted list.

“All charges shared the fact that the name T.N. was a false identity and the name M.E. was a real one, with the exception of charges 33 and 34, which dealt with a cover-up, and charges 36, which dealt with money laundering. However, the applicant for naturalization had a passport bearing the name T.N. from the Commonwealth of Dominica,” the Court revealed.

The Golden Passport program of Cyprus contributed significantly to the economic sector of this country. The program permitted foreigners to obtain citizenship in this country given that they met specific requirements and contributed financially to this country.

However, it was involved in many unlawful affairs, including money laundering, tax evasion and corruption.

Following the investigative report of Al Jazeera that brought valid evidence regarding the Golden Passport scheme’s involvement in unlawful affairs, authorities in Cyprus abolished this program back in 2020.

Previously, the government of Cyprus revealed that it initiated the process of revoking citizenship acquired through the Golden Passport scheme from ten more beneficiaries.

Read More: Two New Case Files to Cyprus Law Office Related to Golden Passport Scheme

2022-11-16 06:18:44

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