Former minister investigated for failing to declare assets

A former minister in the Christodoulides government is currently under scrutiny after failing to declare assets totaling €2.4 million in their official wealth statements, known as 'pothen esches'. The discrepancy, involving bank accounts in Cyprus and abroad as well as foreign real estate, was uncovered during a recent audit conducted by the tax department. This audit follows the implementation of new legislation in January 2026, which empowered the Tax Commissioner to verify the accuracy of wealth declarations for the first time.

The House of Representatives' special committee on 'pothen esches' was officially notified of the findings by the Tax Commissioner. Following the disclosure, the former minister submitted updated declarations for both 2023 and 2026. While initial reports suggest there is no evidence of illicit enrichment—as the assets existed prior to the minister taking office—authorities are investigating the potential for criminal charges related to false or misleading filings. Additionally, the official is being investigated for possible tax evasion. Under current regulations, the committee is required to notify the Attorney General, George Savvides, to determine whether criminal prosecution is warranted.