LAX OVERSIGHT LET ALLEGED CHEATS GET CYPRUS PASSPORT

On 29 December, the Daily Mail carried an article saying that a redacted report just published says that the authorities in Cyprus should consider stripping citizenship from a dozen individuals over their alleged involvement in acts of theft and fraud.  The probe was into 42 foreign nationals who obtained a Cypriot passport in exchange for millions in investments.  A redacted, 53-page report comes from the review of the country’s now-defunct citizenship-for-investment (CBI) programme.  Along with those facing the loss of Cypriot citizenship, another 5 individuals could face charges for allegedly lying on their applications.  According to the report, one investor used 2 different names and had tried to open bank accounts with each of them Another investor paid over €3.2 million to obtain citizenship in 25 credit card instalments inside of 30 minutes without raising any red flags.  The report criticises the Cypriot Interior Ministry.

https://www.dailymail.co.uk/wires/ap/article-9096883/Probe-Lax-oversight-let-alleged-cheats-Cyprus-passport.html

I had omitted the following link (as it did not seem to generate much interest!), but it seemed time to add it again and say that, if you would like to make a (polite) gesture and help me with my removal and computer costs, I have a page at https://www.buymeacoffee.com/KoIvM842y

Author: raytodd2017

Chartered Legal Executive and former senior manager with Isle of Man Customs and Excise, where I was (amongst other things) Sanctions Officer (for UN/EU sanctions), Export Licensing Officer and Manager of the Legal-Library & Collectorate Support Section

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