Financial irregularities revealed in Osiou Avvakoum monastery trial

The Nicosia Criminal Court is currently hearing testimony regarding extensive financial irregularities at the Osiou Avvakoum monastery. Monks Nektarios and Porfyrios are facing multiple charges, including conspiracy to defraud, money laundering, and submitting fraudulent tax returns. Witnesses, including a concrete company CEO and a builder, testified that they were instructed by Nektarios to omit invoices for construction works and materials to avoid VAT payments.

Evidence presented in court detailed over €101,000 in cash payments for concrete deliveries made between 2022 and 2024, alongside approximately €38,700 in undocumented construction labor. Other irregularities include a €3,600 payment for a wood stove and a forgotten €8,000 receipt. While the prosecution asserts these actions were deliberate attempts to evade taxes, the defense has challenged the witnesses' credibility, suggesting they are shifting blame for their own tax negligence onto the former abbot.

The trial continues as the court examines the sequence of these transactions and the alleged involvement of the defendants in systematic tax evasion and financial mismanagement. Future proceedings will likely focus on the cross-examination of further witnesses to determine the extent of the alleged fraud.