The law firm connected with former Transport Minister Marios Demetriades on Tuesday issued a statement defending itself against allegations related to its involvement in the “golden passports” scheme.
Andreas Demetriades & Co LLC, a firm with over 50 years of experience in advising international real estate investors in Cyprus, rejected what it termed “false and manipulated testimonies” and “arbitrary conclusions” regarding its involvement in the citizenship-by-investment programme.
The firm asserted that legal proceedings would allow it to present its case and reveal “the reality of events”. It characterised the situation as an “unprecedented and limitless targeting” of the company, suggesting the aim was to shift blame for the programme’s “flawed implementation, shortcomings, and inherent design flaws”.
Demetriades & Co expressed confidence in the justice system, stating that the legal process is “the only institutional path that will lead to uncovering the truth”.
Cyprus’s now-terminated citizenship-by-investment scheme has been under scrutiny for alleged abuses and lack of proper vetting of applicants.
The country suspended its “golden passports” programme in 2020.
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