Former government minister investigated for failing to declare assets

A former minister in the Christodoulides government is under scrutiny after failing to declare assets totaling approximately €4 million in their 'pothen esches' (wealth declaration) statements. The omission was uncovered during a recent audit conducted by the Tax Department, which assumed responsibility for verifying such declarations following new legislation that took effect in January 2026. This is the first time such comprehensive audits have been performed on official financial disclosures in Cyprus.

While the investigation reportedly shows no signs of illicit enrichment, as the funds were acquired prior to the minister taking office, the failure to report them constitutes a criminal offense under the new law. The Tax Department has formally notified the House's special committee on 'pothen esches', chaired by House Speaker Annita Demetriou, regarding the findings. The committee is now required to forward the case to Attorney General George Savvides to determine if criminal prosecution is warranted. Furthermore, authorities are conducting a separate inquiry into potential tax evasion regarding these undeclared assets.