The Audit Service’s new report on the controversial and now scrubbed Cyprus Investment Program is set to be published in mid-August and includes fresh findings pinpointing to real flawed procedures.
Cyprus has suspended its citizenship by investment program, in its current form, effective from November 1, 2020 following a scandal sparked by an expose by Al Jazeera network.
Insiders told Philenews the group of audit officers evaluated evidence demonstrating that, in several cases, foreign investors did not meet the conditions for obtaining a Cypriot passport but for some reason these remained pending.
These are people whose application should have been rejected immediately, however, for reasons that are not clear, this had not happened.
Warning memos are there by a competent officer of the Interior Ministry, who, as part of her duties, had checked and marked controversial applicants.
Some indicative memos refer to applicants burdened with “Allegation for Abuse of Power” and “Open Criminal Case” as well as “Politically Exposed Person”.
