Attorney General Giorgos Savvidis revealed that additional criminal prosecutions are imminent in connection with the irregularities observed in Cyprus’ now-defunct ‘golden passports’ programme.
Addressing the Parliament during the presentation of the Law Office of the Republic budget, Savvidis responded to queries about the progress of investigations into the ‘Cyprus Citizenship by Investment’ programme.
The Attorney General stated, “There are ongoing cases, and we are closely monitoring the progress of these investigations. I have held three meetings with investigators regarding cases related to sanctions, and in December, there is scheduled a meeting with investigators to discuss matters pertaining to citizenship cases.”
Cooperative Bank collapse
Concerning the investigations into the collapse of the Cyprus Cooperative Bank, the Attorney General declared their conclusion, citing the absence of further ongoing inquiries. He noted that issues of negligence within the Cooperative Bank are currently under scrutiny by the Cyprus Asset Management Company (KEDIPES).
Laiki Bank
Regarding the recent decision to award compensation to a depositor affected by the Laiki Bank haircut, Savvidis mentioned that an appeal is currently in preparation.
Courts
The head of the Legal Services also expressed his dissatisfaction with the cancellation of the construction of the new courthouse building. He responded once again to criticisms describing the project as “excessive and wasteful,” emphasising that this had been discredited based on calculations provided by the Ministry of Finance.
