Cyprus law enforcement authorities have secured a freezing order on assets linked to one of the most high-profile cases connected to the Cyprus Investment Programme (CIP), also known as the “golden passports” scheme.
The case involves Russian businessman and former politician Mikhail Yurevich, who is reportedly wanted under an international arrest warrant.
Court order on luxury properties
The request was submitted by the Cyprus Police through the Anti-Money Laundering Unit (MOKAS), seeking a property restraint order on two real estate assets connected to Yurevich.
The order was approved by the Nicosia District Court within the past 20 days, covering assets valued at approximately €3.175 million.
These include a luxury apartment in Mesa Geitonia within the “ONE” development and another apartment in Germasogeia, linked to his father.
The court decision was published publicly, a step taken when the individual concerned cannot be located for formal service of the order.
International and political background
The Yurevich case has drawn international attention, including coverage by media outlets such as Al Jazeera during its “Cyprus Papers” investigations into the Cyprus Investment Programme.
He was granted Cypriot citizenship in 2016, despite later findings from the investigative committee led by Myron Nicolatos recommending the possible revocation of his passport.
Citizenship concerns and findings
The Committee found indications that some declarations in the citizenship application may have been false and noted inconsistencies regarding his presence in Cyprus.
It also highlighted procedural issues in related applications involving family members and questioned documentation in several cases.
The report further stated that Yurevich had not travelled to Cyprus after 2001, raising concerns over eligibility under the Cyprus Investment Programme rules at the time.
International warrants and sanctions
According to the committee report, Yurevich has been linked to corruption investigations abroad and has been subject to international arrest warrants and sanctions.
He was reportedly convicted in Russia in 2020 for large-scale bribery and later became internationally wanted.
Citizenship revocation
His Cypriot citizenship was eventually revoked in November 2024, as part of a broader list of 77 investors whose nationality was withdrawn under the current government review process.
Authorities confirm ongoing investigation
The Cyprus Police confirmed that the case remains under investigation and that no further announcements can be made at this stage.
Officials indicated that the probe is linked to findings contained in the Committee report on the Cyprus Investment Programme.
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