NICOSIA, CYPRUS – A Cypriot court on Tuesday acquitted former parliamentary speaker Demetris Syllouris of corruption charges tied to the country’s now-defunct citizenship-by-investment program, a scandal that once drew sharp rebukes from the European Union.
Syllouris, who ranked second in Cyprus’s state hierarchy before resigning in 2020, faced trial alongside ex-lawmaker Christakis Tziovannis. Both were charged with conspiracy to defraud and abuse of power over alleged efforts to fast-track passports for foreign investors. They pleaded not guilty throughout the proceedings.
In a majority decision, Nicosia’s three-judge Criminal Court ruled that prosecutors failed to demonstrate criminal intent or direct involvement in any fraud. The controversial Al Jazeera undercover video, which captured Syllouris and Tziovannis discussing aid for a fake investor with a criminal past, played no role in the trial.
Emerging triumphant from the courthouse, Syllouris declared to journalists: “I was, and remain, clean. Corruption and collusion result in wealth, and I have no wealth.”The case stemmed from Cyprus’s “golden passport” scheme, active from 2007 to 2020, which issued over 7,000 documents mainly to wealthy Russians and Chinese nationals. Public fury erupted after revelations of lax oversight, with a state probe confirming approvals bypassed safeguards despite EU warnings. The program was ultimately scrapped amid accusations of systemic graft.
The acquittals may reopen debates on accountability in Cyprus’s investment-driven citizenship policies, which faced widespread international condemnation.