Nicosia, Cyprus. Assets worth €3.4 million belonging to former Football Association president Giorgos Koumas have been frozen by court order as proceedings advance ahead of his plea hearing in May. The order was issued by the district court on Friday and confirmed on Tuesday.
Court order and scope of the freeze
The freeze applies to real estate and funds held in bank accounts within Cyprus. Authorities said the measure ensures that, in the event of a conviction, the assets “will be forfeited to the state”.
Investigation and application for the order
The asset freeze was secured following an application by police through the anti-money laundering unit (Mokas). It forms part of an ongoing criminal case involving allegations of conflict of interest and money laundering.
Upcoming plea hearing and charges
Koumas is due to enter pleas on May 6 before the Nicosia district court, where he faces a total of 25 charges. Twenty-three counts relate to alleged conflicts of interest during his tenure in Cypriot football administration, while two counts concern the laundering of €6,562,447.
Allegations involving roles and companies
Prosecutors allege that Koumas held simultaneous roles which created a financial conflict, serving as a senior football official while also maintaining shareholdings in two companies, Triple AAA Productions Ltd and Triple AAA Village Studios Ltd. The entities were involved in the production and broadcasting of football matches and related services, including livestreaming.
Time period covered by the indictment
The charges span contracts signed between 2014 and 2025, a period during which the companies secured agreements with various organisations linked to sports broadcasting. According to the indictment, this dual capacity created an “incompatibility” by allowing financial benefit from activities directly connected to organised sport while holding an influential regulatory role.
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