Apostolos Tomaras
While investigations continue into the footage that triggered two resignations at the Presidential Palace, all eyes are now on the people behind the story and just how methodical they were in pulling off something so shocking. And yes, this isn’t an exaggeration: the whole setup feels like it was ripped straight from a movie, the kind of films based on real-life conspiracies.
Sources inside Cyprus’ security services say the masterminds behind the scandal relied more on appearances than the patience, persistence, and, crucially, money that a real operation of this scale would usually require. Because of this surface-level approach, officials believe it’s unlikely this was a journalist trying to “make a scoop,” like the Al Jazeera video incident years ago. Instead, early signs point to a hybrid attack with possible Russian ties.
Even if the suspicions are confirmed that this was meant to politically weaken President Christodoulides and tarnish Cyprus’ credibility as he took on the EU Council presidency, the behavior of a close presidential aide, a former energy minister, and a businessman went way beyond acceptable boundaries. No excuse can cover up their serious missteps. And given the earlier Al Jazeera video, authorities are watching closely for what they see as a dangerous repeating pattern.
The Setup
Early clues suggest that the trap and the exposure of the key players were planned nearly a year before the footage went public. The precision of the so-called “investors,” even if they weren’t the ones executing the plan, suggests the whole thing was orchestrated like an organized campaign. Security authorities are now focusing on Russian-style disinformation tactics, which have hit countries like France, the U.S., Germany, and Israel in the past.
According to initial information, Giorgos Lakkotrypis, a key link in the chain, reportedly held three meetings with the so-called Dutch investors outside Cyprus, in the Netherlands and the U.K., the last one apparently happening just last month. A foreign lawyer acted as the go-between. Sources close to Lakkotrypis say that after the first meetings, and before finalizing his consultancy role, he did what he considered “due diligence” on the investors.
The Phantom Company
That due diligence reportedly turned up a company that looked legitimate: Stratix Wealth, which had a website and even some office space. Lakkotrypis signed a consultancy contract, earning €5,000 per month. But insiders say both he and the intermediary lawyer barely scratched the surface, relying mostly on online appearances rather than checking if the company was actually active.
The setup to connect the “Dutch investors” with the former minister seems to confirm that the scheme may have started almost ten months before the video surfaced. Once the footage was made public, Stratix Wealth and the so-called investors, one of whom had a Romanian name, disappeared completely, and even the lawyer could no longer track them down.
The Weak Link
The investors’ story revolved around a €150 million energy deal in Cyprus. They used a dormant Cyfield power plant in Vasiliko, which had licensing problems, as a “Trojan horse” to get access to the Presidential Palace, clearly their real goal. Meetings with Lakkotrypis and signing a confidentiality agreement effectively unlocked the final door, delivering the investors exactly what they were after.
Institutional Lapses
Even if the three people behind the footage face legal consequences, Lakkotrypis and Charalambos Charalambous, the resigned Presidential Office director, are under fire for serious lapses in judgment and procedure. Sources say Lakkotrypis “said things he shouldn’t have,” even shocking some of his closest allies. Some of his claims about investment processes weren’t even his responsibility; they should have been handled by Invest Cyprus. Charalambous, due to his official position, may be in an even more difficult spot. Efforts to reach both men for comment were unsuccessful.
*Read the Greek version here.
