A report is being prepared into a former minister in the Christodoulides administration who allegedly failed to declare €2.4 million in assets in asset declaration statements submitted to parliament in 2023 and 2026.
The case centres on alleged submission of a false “Pothen Esches” declaration, an offence which, under legislation revised in 2024, carries potential criminal liability.
According to the law, a conviction may result in a fine of up to €5,000, imprisonment of up to one year, or both.
Concerns over handling of the case
The handling of the matter has reportedly sparked concern within parliament.
Opposition MPs told Politis that, rather than immediately referring the case to the Attorney-General after the Tax Commissioner determined that the former minister had omitted assets worth €2.4 million, the House Special Committee on Asset Declarations sought legal guidance from a major Nicosia law firm.
According to Politis, the law firm advised the committee to follow the procedure prescribed by law.
Tax Commissioner preparing findings
The first formal notification from the Tax Commissioner to the parliamentary committee was sent on 23 July 2026 through a confidential letter.
However, before the committee can proceed with a full examination of the case, the Tax Commissioner must complete and submit a formal report detailing the findings.
According to information obtained by Politis, that process is currently under way.
What happens next
Under the legislation, the parliamentary committee must first give the affected individual the opportunity, if they wish, to be heard or submit their views in writing before it prepares its own report.
The committee’s report will include:
- the factual circumstances of the case;
- the findings of the Tax Commissioner;
- and the position of the person under investigation.
The committee will then decide whether the report should be forwarded to the Attorney-General, who would determine whether criminal proceedings are justified.
The undeclared assets
The €2.4 million allegedly omitted from the declarations relates to:
- bank deposits held abroad; and
- the purchase of an apartment in Athens.
The assets were identified during the most recent review conducted after the former minister left office.
The review was carried out under legislation that came into force at the end of 2024, which transferred responsibility for auditing asset declarations to the Tax Commissioner.
Before the reform, no such verification process existed, meaning there was no mechanism to independently check the information contained in declarations.
No evidence of illicit enrichment
According to the information available, the case does not appear to involve illicit enrichment.
Investigators reportedly established that approximately €2 million in deposits had already been in the former minister’s possession before entering government in 2023.
The focus of the case is therefore on the alleged failure to declare the assets rather than on how they were acquired.
