Cyprus-registered firms linked to Slovak speed camera contract scrutiny

Nicosia, Cyprus. Three Nicosia-registered companies sharing common ownership have been linked to a controversy in Slovakia over a government contract to purchase 279 speed cameras. Slovak opposition politicians, media and Swiss outlet Neue Zürcher Zeitung have reported concerns that the contract may be connected to a Russian intelligence operation.

Companies named in documents

Phileleftheros identified Sodasus Ltd, Fidesta Management Ltd and Fidesta Ltd as entities directly or indirectly involved in the case. Slovak state documents list Sodasus Ltd as the manufacturer of the cameras.

Corporate filings in Cyprus, however, list Sodasus Ltd’s stated business activity as “Investment operations and other” and contain no public record of manufacturing activity.

Ownership structure

Sodasus Ltd is solely owned by Fidesta Management Ltd, which in turn is owned by Fidesta Ltd. Fidesta Ltd is held equally by Latvian nationals Sens Zalitis and Artis Rozenbergs, who each own 50 shares.

All three companies listed identical primary business objectives when they were incorporated. Registry records show limited financial activity for Sodasus Ltd and Fidesta Management Ltd, involving several hundred euros.

Fidesta operations

Audited financial statements for Fidesta Ltd show active turnover. On its website, the company advertises administrative management services and describes itself as a corporate management firm licensed and regulated by the Cyprus Securities and Exchange Commission as an Administrative Services Provider specialising in Cyprus company and trust formations.

Authorities and company response

Relevant authorities confirmed that Slovak officials have not requested assistance from Cyprus Police and that law enforcement agencies have not opened inquiries into possible offences.

A Cypriot representative of Fidesta Ltd provided a written response to questions sent by Phileleftheros on behalf of the companies’ owners.