**Sizopoulos Case File to be Submitted to Legal Service Soon**
The police investigation into allegations of fraud, forgery, conspiracy, and the circulation of forged comments involving former Edek leader Marinos Sizopoulos is nearing completion, with the case file expected to be submitted to the legal service within days. Police spokesman Vyron Vyronos confirmed this development on Friday, stating that the investigative work has been finalized and is now undergoing review by the police’s legal department.
"The file will be studied by the legal service," Vyronos remarked, while refraining from disclosing specific findings regarding Sizopoulos’s potential criminal liability. The investigation was initiated following a report from the anti-corruption authority, which suggested that Sizopoulos could be held criminally responsible based on a complaint filed by former Edek MP George Varnava.
Varnava, who departed from the party in 2024, raised concerns about Sizopoulos’s conduct, prompting the anti-corruption authority to conduct a thorough review. While the authority dismissed several of Varnava’s allegations, it identified Sizopoulos as the owner of Ktimatiki Ltd., one of four joint owners of Taxan Properties Developers Ltd. The report highlighted that Sizopoulos acted as a guarantor for a loan taken out by Taxan, which subsequently fell into default, leading the bank to pursue legal action for repayment.
In a significant development, the report detailed that Sizopoulos engaged in discussions with the bank, resulting in an agreement where a payment of €1.625 million would settle the outstanding loan balance of €956,900. Following this agreement, a foreign investor acquired Taxan for €2.025 million. Although Sizopoulos did not have prior knowledge of the investor, it was later revealed that the investor intended to utilize the Republic of Cyprus’s citizenship-through-investment scheme, commonly referred to as the “golden passport” scheme.
The investigation uncovered discrepancies in the sale documentation for Taxan. Two separate purchase and sale documents were prepared: one indicating a sale price of €2.025 million, which was submitted to the interior ministry for the investor's naturalization, and another stating a sale price of €1.6 million, provided to the bank to facilitate the reduction of Taxan’s debts. This led to complications when the tax department requested capital gains tax based on the higher sale figure from the four companies that previously owned Taxan, including Sizopoulos’s Ktimatiki.
In response to the tax demand, Ktimatiki and another company contested the claim, asserting that the actual sale price was indeed €1.6 million. This prompted Varnava, along with two officials from the other companies involved, to file complaints with the police, claiming they were unaware of the document stating the sale price as €2.025 million. Additionally, the bank lodged a complaint, indicating that had it known the true sale price, it would not have agreed to write off the loan balance.
The report from the anti-corruption authority concluded that there is "sufficient evidence to demonstrate" that Sizopoulos was aware of both the actual sale price of Taxan and the contract that indicated the higher price. In the wake of these findings, Sizopoulos has maintained his innocence, asserting that he will provide evidence to clear his name. In previous statements to media outlets, he has denied any involvement in the matters under investigation.
As the case file is prepared for submission to the legal service, it remains to be seen how the legal authorities will proceed with the findings of the police investigation. The outcome could have significant implications for Sizopoulos and potentially for the political landscape in Cyprus, particularly given his previous leadership role within the Edek party.
The public and political observers will be closely monitoring developments as the legal service reviews the case file and determines the next steps in this high-profile investigation.