Newsroom
Attorney General George Savvides announced the members of the newly-established four-member committee tasked with probing the entire length of the Cyprus Investment Program, which was introduced in 2007.
According to Savvides on Monday, former Supreme Court President Myron Nicolatos was appointed head of the committee, while the three members will be Costas Pampallis, former Supreme Court judge, Kyriakos Kyriakou, deputy Auditor General, and Pavlos Ioannou, Financial Commissioner.
The investigative committee is expected to complete its probe within three months, but may be granted an extension if deemed necessary by the Attorney General.
The committee was set up after the Cabinet agreed on September 3 to propose to Savvides that he moves to appoint an investigative committee and define its parameters of investigation.
The probe will sift through all exceptional cases of Cypriot citizenship granted through the investment program since its introduction in 2007 and until August 17, 2020, when a new legislative framework covering the program was published.
The committee will be tasked with assessing whether laws in place at the time of the filing or examination of the applications were adhered to, as well as Cabinet decisions, and all necessary criteria, procedures, and prerequisites, including financial prerequisites.
The committee will also need to investigate whether any details emerge which may involve legal responsibilities of any involved party, and whether any such details warrant the launching of a process of revocation of a Cyprus citizenship.
