Cyprus files first prosecution in passports-for-investment scheme

[troubled soul]

https://www.aljazeera.com/news/2021...tent&utm_medium=trueAnthem&utm_source=twitter

 

[Martin Everson]

wow...

"About 51 percent of 6,779 passports issued from 2007-2020 went to recipients who should not have qualified, according to interim findings of an independent inquiry."

 

[Golden Fleece]

Henley & Partners always seems involved with these sketchy programs, as well as with the actual problems.

Henley & Partners told the FT that the payment was a fee from a Cypriot developer under a pre-existing agreement for Henley Estates to provide “marketing support services”, and the money did not originate from any entity linked to Mr Low or his associates. Juerg Steffen, H&P chief executive, said the payment should nonetheless not have been taken, since his company had previously rejected Mr Low as a client following due diligence checks. Mr Steffen said the case had helped trigger an overhaul of governance standards in the Henley companies. “Hindsight is a wonderful thing,” he said.

https://www.ft.com/content/9e2a67f6-06cd-11ea-a984-fbbacad9e7dd

 

[Sols]

Henley & Partners aren't just involved. They write the laws in some cases.