**Former Minister Fails to Declare €2.4 Million in Assets, Confirms MP**
A former minister from the Christodoulides government has come under scrutiny for failing to declare €2.4 million in assets, as confirmed by Disy MP Demetris Demetriou on Monday. The revelation was made during an interview on Alpha TV, where Demetriou, a member of the special parliamentary committee responsible for overseeing the wealth and income declarations of public officials, discussed the findings of an audit conducted after the minister's departure from office.
The undeclared assets include significant bank deposits both in Cyprus and abroad, as well as an overseas property. This oversight was identified during a recent audit, which was mandated under new legislation that assigns the tax department the responsibility of reviewing these declarations for the first time. Demetriou noted that in the past, there was no systematic audit process, allowing public officials to declare whatever they chose without thorough verification.
Despite the substantial sum involved, Demetriou clarified that the audit did not suggest any unjust enrichment on the part of the former minister. The investigation revealed that the assets in question were in the minister's possession prior to their appointment in 2023. The primary concern is that these assets were not included in the minister's wealth declarations for that year.
Following the intervention of the tax commissioner, the former minister updated their declarations for both 2023 and 2026 to rectify the omission. The parliamentary committee was informed of this case through a confidential letter from the tax department dated July 23. The committee convened last Thursday to discuss the situation and is now considering whether the former minister may have committed a criminal offense due to the failure to declare the assets, as stipulated by the new law.
Demetriou expressed his disagreement with the committee's approach, suggesting that the case should be directly referred to Attorney General George Savvides for further consideration. The committee, chaired by House President Annita Demetriou, includes members from various political parties, including Akel, Elam, and Diko.
Under the current regulations, the committee is required to inform the Attorney General about potential criminal offenses, as failing to declare assets is considered a criminal act under the new legislative framework. While the former minister has not been publicly identified at this time, it has been reported that their identity will be disclosed once they provide an explanation for the omission of these assets.
In an additional development, it was revealed that the former minister had voluntarily submitted an updated declaration in April, prompted by the tax department's notification regarding the missing bank accounts from the original 2023 filing. This proactive step indicates the minister's attempt to comply with the regulations after the oversight was brought to light.
As the situation unfolds, the parliamentary committee's actions and the potential legal implications for the former minister will be closely monitored, reflecting the government's ongoing commitment to transparency and accountability among public officials.