Cyprus Mail 15 December 2020 - by Elias Hazou
Police have secured search warrants for two companies in connection with investigations into possible criminal wrongdoing relating to the now-defunct passports scheme, reports said on Tuesday.
According to Politis, one of the companies for which warrants were secured is the Harris Kyriakides LLC law firm, based in Larnaca. Citing police sources, the daily said authorities will also be searching the homes of three employees of the same law firm.
In addition, police have secured warrants to search the premises of Quality Property Developments, likewise based in Larnaca.
Politis said that police may conduct investigations into other law firms or audit firms.
Quality Property Developments offers immigration advisory services, according to its website.
“Quality Property Developments assists clients in a new and accelerated permanent residency procedure wherein permanent residency can be obtained with an investment of €300,000 in any residential property,” the website states.
It boasts an “accelerated process (two months) from submission of application” as well as a “100 per cent approval rate.”
Politis said the company was flagged in a report prepared by an ad hoc investigative committee appointed earlier this year to look into suspect naturalisations granted under the citizenship-by-investment (CBI) scheme.
That committee, headed by Securities and Exchange Commission (Cysec) chair Demetra Kalogirou, looked into about 30 files of naturalisations deemed ‘high-risk.’
In its findings, the panel had referred to the potential commission of criminal offences in a handful of cases. This included the provision of misleading information or forged documents by citizenship applicants or their representatives.
The ad hoc committee had been tasked with scrutinising ‘high-risk’ CBI cases for the 2008 to 2018 timeframe.
Kalogirou currently sits on the four-member committee of inquiry looking into all naturalisations granted between 2007 and August 17, 2020 – the date on which the new legal framework on Cyprus’ CBI programme came into effect.
The committee of inquiry was appointed following reports by Al Jazeera in August and a document dump pertaining to the Cypriot investment programme, and which the media outlet claimed showed citizenship was “sold to dozens of foreigners linked to crime and corruption.”
The CBI itself was scrapped in October after an undercover video by Al Jazeera showed then-House president Demetris Syllouris and Akel MP Christakis Giovani appearing ready to help a Chinese businessman with a criminal record – who it later emerged was fictitious – secure a Cypriot passport.
