After lengthy criminal procedures Larnaca Assizes will deliver its judgement on November 4 in the first trial relating to the Mediterranean island’s controversial and now suspended citizenship-by-investment programme.
The case concerns the granting of “golden” passports to three Iranians and four legal entities and five natural persons are facing charges. One of them is a prominent Larnaca lawyer, Philenews reported on Wednesday.
The case was filed in May 2021, the closing arguments had been made by defense lawyers on August 31 and final clarifications were heard on Tuesday.
The court case is based on the findings of an ad hoc panel headed by then Securities and Exchange Commission head Demetra Kalogerou.
The investigation confirmed that the three Iranians obtained Cypriot citizenship through the investment program after presenting false identity information to authorities.
An Iranian man who appeared under two names and was wanted by Interpol for fraud and embezzlement of a large amount of money was the first to be granted citizenship. Citizenship to his parents followed.
The Cypriot defendants have allegedly acted as intermediaries with intent to subvert the state and illegally secure Cypriot citizenship to the three Iranians.