Law enforcement authorities are now in possession of a vast volume of material, including bank transactions, names, law firms, addresses, travel documents, and credit card payments for airline tickets, hotels, and restaurants abroad. Investigators are under pressure to move swiftly to trace the individuals posing as investors, who are alleged to have deceived not only two businessmen but also the Presidential Palace itself.
The political exposure is severe. According to information available to the authorities, the Presidency appeared willing to receive contributions in exchange for resolving potential issues raised by the purported investors. On Friday, the Legal Service issued specific instructions to the competent authorities in relation to the controversial video posted on the platform X.
A complex investigative path
As Politis understands, investigators are facing a highly complex case. Their first task is to establish, beyond reasonable doubt, the authenticity of the video. They must then locate the full recordings of conversations that allegedly lasted hours and even days, and identify the individuals behind them. These include people operating under pseudonyms, as well as real names, all of whom are believed to be part of what authorities describe as a carefully orchestrated operation that has politically embarrassed the Republic of Cyprus.
With the involvement of the National Intelligence Service (KYP), Greece’s EYP, and other agencies, authorities are also examining suspicions of a hybrid operation. The timing is considered particularly sensitive for Cyprus, due to its EU Council Presidency and the upcoming parliamentary elections. According to the President’s entourage, the affair risks destabilisation and fuels populist narratives and forces.
Investigators believe the scenarios under examination point to a well-structured plan, for which substantial sums of money were spent. The trail of funds, travel arrangements, flights, restaurants, and hotels where meetings took place with Giorgos Lakkotrypis and Giorgos Chrysochos is now helping authorities retrace how and where this case originated.
The revelation and the outcry
On 8 January 2026, the video that sparked widespread controversy circulated extensively on X. Lakkotrypis filed a complaint with the Criminal Investigation Department in Nicosia, visiting the unit twice, stating that he neither knew of nor consented to the recording of his conversations in any form.
The discussions with the alleged investors were lengthy. In the edited video released publicly, statements were selectively extracted and rearranged to create a specific narrative.
The alleged investors
According to the evidence, the only confirmed real individual is a lawyer from the Netherlands. In June 2025, he contacted Lakkotrypis, claiming to represent a Dutch family office interested in investing in Cyprus’ energy sector. He proposed introducing his clients and exploring possible cooperation.
Emails were subsequently exchanged, in which a person using the name Florin Georghiou presented himself as a partner at Stratix Wealth, based in South Amsterdam. He reiterated Stratix Wealth’s interest in large-scale energy investments. In July, a video conference took place between Lakkotrypis and Georghiou, during which the investor’s intentions were outlined orally.
Amsterdam and London
The next contact was an in-person meeting in Amsterdam in July. Airline tickets with Aegean Airlines and accommodation at a specific hotel were arranged for Lakkotrypis.
Later, Georghiou invited Lakkotrypis to London for a meeting in the first week of September. Flights and hotel accommodation were again arranged. During these meetings, Georghiou was accompanied by another individual, who he claimed represented the investor.
Moving deeper into investments
Georghiou received from Lakkotrypis a study he had prepared on Cyprus’ energy landscape and prospects. That same month, a bank transfer was made to Lakkotrypis’ account as payment for his services. Similar payments from the same account followed in November and December 2025.
First contact with Chrysochos
Toward the end of October, a video conference was arranged between Georghiou and Cyfield CEO Giorgos Chrysochos, aimed at presenting the power generation project being developed by the company in Vasiliko. The meeting was initiated by Georghiou himself, who claimed to be familiar with Cyfield and interested in investing in a mature project.
On the same day, a non-disclosure agreement was signed between Stratix Wealth and Cyfield, allowing for an in-depth analysis of the power plant project.
Contacts with the Presidency
In November 2025, video conferences were also arranged with other companies to present their energy projects. During the same period, Georghiou met Chrysochos in London.
A new meeting between Georghiou and Lakkotrypis took place in December in Amsterdam, with flights, accommodation, and meeting venues arranged in the same manner as before.
During that period, a video conference was also held with the Director of the President’s Office, Charalambos Charalambous. Charalambous provided information on procedures for major investments and outlined the institutional framework in place.
When the alleged investors persistently asked how they could support the government’s work, Charalambous referred to examples of other companies contributing, through Corporate Social Responsibility (CSR), to specific public-benefit projects.
Given the size of the alleged investment — €150 million — the purported investors were invited to Cyprus for a meeting at the Presidential Palace to meet the President of the Republic.
Following the money
The detailed account of the alleged deception, the evidence gathered by police, and the expected testimonies of Charalambous and Chrysochos are now guiding investigators. Authorities believe they can trace the full route of meetings and payments in order to identify those behind the production of the video that has shaken the political landscape and attracted attention from Greek and international media.
Scientific reports under preparation
Speaking to the Cyprus News Agency (CNA), Police Headquarters spokesperson Vyronas Vyronos said that Lakkotrypis’ testimony is being evaluated and that the direction of the investigation will be decided based on guidance from the Legal Service.
He added that scientific reports are expected from specialised police units, including the Cyber Crime Subdivision and the Criminalistics Service. Other individuals appearing in the video will also be required to give statements, although no specific timeline has been set.
Vyronos confirmed ongoing communication between the Assistant Attorney General and the Chief of Police, aimed at evaluating the evidence and providing legal guidance for the investigation. He clarified, however, that he had no information on whether these instructions redefine the scope of the inquiry or relate to specific criminal offences or procedural issues, such as the handling of audiovisual material.
“The investigation covers the entire scope of the video that has entered the public domain,” he said. As for the account that uploaded the video on X, investigations into its origin and all related material are continuing, with no change so far compared to previous findings.