Nicosia, Cyprus. Former energy minister Georgios Lakkotrypis submitted more than 10 applications for special permission to work in the private sector during the mandatory two-year hiatus after leaving office, according to sources close to the matter.
Applications during post-ministerial restriction period
Sources told the Cyprus Mail that the applications were filed between July 2020, when Lakkotrypis left the energy ministry, and July 2022, a period during which the law requires former ministers to obtain approval from a three-member committee before taking up private sector roles. The requests related either to participation on company boards or to the provision of consultancy services.
Parliamentary focus following covert video
The matter drew parliamentary attention following the publication of a covertly recorded video allegedly showing discussions of influence and investment access to the presidential palace. In the footage, Lakkotrypis appears as an energy consultant and later acknowledged receiving €15,000 for a three-month consultancy fee with the non-existent company Stratix Wealth, which claimed interest in investing €150 million in Cyprus’ energy sector.
Committee discussion and request for data
During a meeting of the House institutions committee on Wednesday, Akel MP Irene Charalambides requested that detailed data on post-ministerial employment applications be submitted to parliament. Sources said that during the part of the session closed to the public, it was revealed that Lakkotrypis had submitted at least eight applications within a nine-month period.
Approvals and questions over due diligence
Sources said the total number of applications across the full two-year period was in double digits, with the three-member commission seeking views from the energy ministry before approving requests. One approval involved ElvalHalcor, a Greek aluminium and copper company, which announced in July 2021 that Lakkotrypis had been appointed to its board as a temporary independent member. MPs said the key issue was whether the companies involved had links to the energy sector and whether the commission exercised due diligence in assessing potential conflicts with Lakkotrypis’ former ministerial responsibilities.
What information will parliament seek next about the approvals granted to former ministers for private sector roles?
