Following the controversial video alleging cash-for access practices around the Presidential Palace, the government on Friday denied any wrongdoing, suggesting it’s business as usual, while opposition parties demanded answers. The competent authorities, meanwhile, are focusing more on discovering who made the video rather than what it potentially reveals.
The eight-minute video of unknown origin was released on social media platform X on Thursday. Hidden cameras show footage of supposed investors talking separately to former Energy Minister Georgos Lakkotrypis, Cyfield Group CEO Georgios Chrysochos, and Director of the President’s Office Charalambos Charalambous about how to make donations allegedly to gain access and favour with the Presidential Palace. The First Lady’s social support fund came up, while Lakkotrypis was also seen discussing cash donations to overcome the one-million-euro cap on election campaigns. The two private sector figures said their comments were stitched together out of context, while the government dismissed the video as a malicious product of editing that makes false claims.
Opposition parties raised the alarm over allegations of illegal financing and practices linked to the Palace and its close circle, demanding answers while AKEL also called for the resignation of Charalambous.
Business as usual
President Nikos Christodoulides came out defiant on Friday afternoon, challenging anyone to provide proof of illicit funding. He insisted that companies that want to invest in Cyprus “must also offer social contributions, within the context of corporate social responsibility, to the state”.
With the government suggesting ‘nothing to see here, move on’, the state’s legal and security services focused investigations on the origin of the video, exploring potential “hybrid activities” by foreign actors.
After initial silence, the Legal Service confirmed on Friday that “specific instructions have been given to the competent authorities” regarding the video, without elaborating further.
According to Politis sources, following the video’s release the President held meetings with the Attorney-general, legal officers and other services, including the intelligence service (KYP), to ascertain whether it is a product of “hybrid activity” aimed at undermining the Republic of Cyprus. The video’s release came a day after the opening ceremony of Cyprus’ EU Presidency.
A long time in the making
There are various rumours doing the rounds as to the potential origin of the video. A reliable source told Politis that indications so far point to Russia as a possible actor behind the video. Details emerging suggest a long and carefully constructed chain of contacts between individuals presenting themselves as investors and figures close to the Presidential Palace. According to information obtained by Politis, the approach began almost two years ago and involved repeated meetings abroad. Politis has learned that the so-called 'investors' first approached Lakkotrypis nearly two years ago expressing interest in investing €150 million in the energy sector in Cyprus. They built a working relationship with him, hiring him as a paid consultant.
The 'investors' said they represented a Netherlands-based company called Stratix Wealth. While meetings were held in London and in the Netherlands, they never took place in offices but in hotels and restaurants.
When the controversial footage of Lakkotrypis speaking to the 'investors' came out, he filed a complaint with the police while on Friday evening, he visited CID (Criminal Investigation Department) headquarters to give a statement and hand over evidence of bank statements and receipts.
Digital traces vanish
Following the publication of the video on X, the ‘investors’ and every trace of their digital presence disappeared. Email accounts and the company website were taken offline, leaving no apparent electronic footprint.
Even if the video proves to be a sting, it does not take away the fact that all three figures – two of whom admit to meeting with the so-called investors – can be seen on video discussing a range of potentially dubious practices, from election campaign contributions in cash, to access to the halls of power, using donations as a means to potentially buy favour, and even allegedly influence Brussels on who to put on the sanctions list.
Regarding the argument that comments were taken out of context, unlike the Al Jazeera investigation into Cyprus’ ‘golden passports’, there is no news organisation behind this video and no way to demand the full, unedited material – as happened in that case during court proceedings in Cyprus.
Fact Check Cyprus
The Fact Check Cyprus Centre for Countering Misinformation based at the Cyprus University of Technology examined the video and the social media account that shared it. According to the Centre, the video is presented as a “leak” and was reposted by an X account under the name ‘Emily Thompson’, who claims to be an “independent analyst”. It is a UK-based account, set up in 2022 but which only got verified on X last month.
No public or verifiable information has been found that confirms the real identity of the individual behind the account.
Speaking to Politis, Théophile Bloudanis from Fact Check Cyprus said the team did not identify signs of AI-generated or deepfake content. The footage, as it stands, does not appear to contain synthetic faces or fabricated visual material. However, this does not rule out editing, selective cuts or other forms of manipulation.
Police investigation
Police spokesperson Byron Byronos told CNA on Friday that the police investigation remains at a preliminary stage, with authorities awaiting the formal statement from Lakkotrypis before determining the scope of the probe or any potential offences. According to police, it is still too early to assess the authenticity of the material or draw conclusions about its origin.
Byronos said the investigation is not limited to a single offence, such as the illegal recording of private conversations. “All offences that may arise from the investigation will be examined.”
Given that the investigation was prompted by the former minister’s complaint, it remains to be seen whether the same competent authorities will expand their probe – beyond investigating its origin – to cover all possible criminal offences that may arise, including in terms of its content.
Pharmaceutical company
In one part of the video, Lakkotrypis is seen discussing work he did for a pharmaceutical company whose holding company includes sanctioned individuals. The former minister allegedly tells the ‘investors’ that he spoke to the president to ensure “Cyprus puts a firm stance in the EU” for one of the three individuals not to be sanctioned, and also put the company chairman in touch with the president after the former donated €75,000 to the state.
The company Remedica issued a statement on Friday denying making donations for the benefit of President Christodoulides while stating that the company LetterOne is not under sanctions.
Remedica clarified the following: “LetterOne is not subject to sanctions and is fully separated from those shareholders who are under sanctions. The shareholdings of those individuals are frozen, they exercise no influence over LetterOne and derive no benefit from it, and LetterOne does not represent them nor act on their behalf.”
“Second, neither LetterOne nor Remedica has made any political donations for the benefit of President Christodoulides.”
According to Remedica, LetterOne responded to a government appeal to support those affected by last year’s destructive wildfires, which also impacted members of Remedica’s staff, donating in July 2025, €75,000 to the Republic of Cyprus’ official Wildfire Support.
Additional reporting by Yannis Seitanides