Two Cypriot companies with a shareholder who owns a large accounting - auditing office hold all the key positions in the company based in Panama, which appears to be renting to the state through another company the building in Paralimni where the Famagusta Land Registry will be relocated, according to the newspaper HARAVGI ”.
According to the newspaper, the company Vereno Holdings Corp. registered in Panama, the three main positions of director, secretary and treasurer-financial director are held by the Cypriot companies XM Management Ltd and XM Secretarial Ltd. The sole shareholder in these companies based on the data of the Registrar of Companies in Cyprus is Mr. Christos Makridis, certified accountant and owner of the audit - accounting office Christos Makridis and Associates based in Deryneia.
Chr. Makridis, according to the newspaper article, is a person who enjoys the trust of the Council of Ministers, which appointed him to the position of member of the Cooperative Companies Service Committee on April 30, 2014, for a five-year term, while the article also states that The building was rented with the intervention of the Council of Ministers and a photo assignment.
The newspaper's investigation showed that in the Pan-American company, which was registered on January 18, 2006, the three basic and necessary positions of officials and directors are held by the following natural and legal persons: The Cypriot companies XM Management Ltd and XM Secretarial appear in the positions of directors. Ltd, as well as the Russian Artak Litman, who also holds the position of president.
The Russian is said to be the person who appears to have negotiated with the state the rent of the building in Paralimni representing the company Ruidoso Overseas Ltd, which is presented as the owner of the building and has as sole shareholder the company Vereno Holdings Ltd in Panama. The structure therefore starts from Cyprus with Ruidoso Overseas Ltd, passes through Panama and Vereno Holdings Ltd and returns to Cyprus with the companies XM Management Ltd and XM Secretarial Ltd. XM Management Ltd also holds the position of treasurer or financial director of the Panamanian company (treasurer), while the secretary is XM Secretarial Ltd.
The publication of "Haravgi" also notes that in the management structure of the company in Panama appear two natural persons from Panama as "subscribers" with the names Harmodio Herrera Villareal and Lilian De Muschet. These are persons who, as mentioned, are required by the legislation in Panama at the stage of registration of a company and based on the established practice, immediately after the registration of the company, they renounce their property rights by private contract, which they transfer to the real shareholders.
Unknown beneficiaries
The newspaper clarifies, at the same time, that the holding of the above managerial positions by the companies of Mr. Makridis does not necessarily mean that these companies are also the shareholders of the Pan-American company, but this is not excluded. What is certain is that the two Cypriot companies have complete control over the operation of the company in Panama, which will receive the rent of 18 thousand euros per month from the state as the owner of the shares of the company that owns the building.
It also remains unknown, according to the publication, if there is a real beneficiary of the building and therefore the rent and who he is. The practice used is the appointment by the beneficial owner (beneficiary) through private contracts (declaration of trust) of other persons (trustees), who take over the management of the assets of the beneficial owners without them appearing. These questions must be answered by the Council of Ministers.
To give convincing answers to reasonable and hot questions
The newspaper, at the same time, reports that convincing answers are pending from the Ministry of Interior, but also the Ministry of Transport for the procedures followed until the rental of the building for the needs of the Famagusta Land Registry in Paralimni, while it is reported that there was a difference from the initial announcement. and a second offer was prepared, which photographed the specific building. It is also noted that the government and not the company, spent € 500.000 to make the separation of the offices, while the payment of rent of € 18.000 per month began without the relocation being completed yet. The amount of rent, according to independent houses, is almost three times higher than the average rent in the area for similar uses. The newspaper also notes the fact that for the first time the Secretary of the Council of Ministers attended meetings of Committees and monitored the process.
At the same time, it addresses the question of what kind of supervision was done to ensure transparent, credible and advantageous to the public procedures.
Source: Haravgi / Tassos Perdios