People were mistaken in thinking the saga of the golden passports was over. Earlier this week former Transport Minister Marios Demetriades, who served in the first Anastasiades government from 2014 to 2018, was charged in connection with a case of using his ministerial status to secure investors for his family law office. His father, who had served as a minister in another government, their law office and a public employee were also charged for bribery, corruption and money laundering.
Another two cases relating to the golden passports are being prepared by the attorney-general’s office, according to press reports. The last case brought against a Larnaca law firm in connection with the citizenship by investment scheme was unsuccessful, but the attorney-general has not given up on the matter, still looking into cases of possible wrongdoing highlighted by the investigations carried out in the past. It is strange that it has taken such a long time for cases to be put together, but at least the authorities have not given up on the matter.
It remains to be seen whether the case is successful or would fail as had happened in all the cases brought against bank executives and directors for the banking collapse of 2013. While a successful prosecution, so long as the evidence exists, would improve the way the system of justice is perceived by the public, the broader issue of corruption is still not being addressed. We should not forget that the citizenship by investment scheme took off under the presidency of Nicos Anastasiades, whose family businesses benefited significantly as a result. It is not just a legal matter, but an ethical one, when the family of the head of state benefits financially from a state policy he has prepared and promoted.
Worse still, his government persisted with the scheme even after the European Commission expressed objections about the rampant practice of issuing EU passports for money. Instead of immediately calling a halt, it was slightly modified and kept in place. Was the president at the time putting the financial interests of his family, which undertook big construction projects and sold properties to foreigners wanting an EU passport, above those of the Republic, the reputation of which suffered yet another big blow from the golden passports?
Reading that Demetriades was charged because he used his ministerial status to attract clients/investors to his family law firm, is there no possibility that the president at the time could have done the same? Or is it acceptable for the president to be taken on holiday with his entire family at the expense of businessman whose extended family was shortly afterwards issued Cyprus passports? Perhaps this was just a coincidence not worth investigating.
Anastasiades, who has claimed all along that his probity is indisputable, is currently being investigated by the Authority Against Corruption, but whether it attributes any wrongdoing to him remains to be seen.
