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Cyprus throws Kenyan billionaire, Humphrey Kariuki, under the bus as EU calls for an end of 'golden passports' and presses for stricter controls

By michaelmwale373 • 7 days ago • 2710 views • 1000 comments


Businessmen Humphrey Kariuki

Kenyan billionaire, Humphrey Kariuki, may soon have nowhere to run to after Cyprus with pressure from European Union decided to reconsider his Cypriot passport.

Mr. Kariuki, who holds dual citizenship from Cyprus, is the owner of Africa Spirits and Wines of the World. Together with a number of directors from African Spirits Limited he is currently facing charges of tax evasion amounting to Sh41 billion ($410 million).

Cyprus. (Britannica)

The Kenyan billionaire and his wife Stella Nasike are among 26 investors identified by Cypriot authorities who may lose their Cypriot passports due to strict citizenship rules introduced by the European tax haven as part of a review of the 2013 policy that granted a passport to anybody who invested at least $2.2 million in the local economy, the Politis newspaper reported.

According to various news agencies from Cyprus, the crackdown could be effected as soon as the end of this month, leaving Mr Kariuki who has since 2016 had dual citizenship to only have a Kenyan passport.

Chinese national Zhang Shumin, reportedly linked to a gold scam, his wife and three children are on the same list as well as Kenyan Humphrey Kariuki Ndegwa, believed to be involved in a financial scam and his wife,” the Cyprus Mail reported on Wednesday.

A Cypriot passport. (The Bangkok Post)

Another prominent businessman who was stripped of his Cypriot citizenship is Olag Deripaska, a Russian billionaire with ties to the Kremlin. Mr Deripaska was once Russia’s richest man, making his fortune by consolidating Siberia’s vast aluminum resources under his control in the 1990s.

The loss of passports is as a result of a Cyprus Cabinet meeting three weeks ago that decided to introduce stricter controls.

“If there were nine investment cases, concerning 26 people among 4,000 applications, it is logical that some would be problematic when controls weren’t strict,” Cyprus Interior Minister Constantinos Petrides was quoted by the Cyprus Mail on November 4.

“There were mistakes, it was a mistake not to have criteria, for instance, for high-risk persons,” he said.

Cyprus president Nicos Anastasiades

Mr.Kariuki hit headlines early this year after the Director of Criminal Investigations, George Kinoti, led detectives in a major raid at his factories located in Thika where over a million bottles of assorted alcoholic drinks and 24,000 counterfeit excise stamps were seized.

But when a warrant of arrest against him was issued, Kariuki was nowhere to be seen forcing Kinoti to seek Interpol’s help in arresting the billionaire businessman who was out of the country at the time.

Director of Criminal Investigations, George Kinoti.

The DPP would alter express utter shock on learning that the Billionaire also a Cypriot citizenship.

A Cypriot passport does enables one to do business throughout the European Union, since Cyrus is a member. Its investor citizenship has, however, of late been criticised by other EU members and Transparency International, who fear it could become a “gateway to Europe for corrupt people and money laundering”, according to TI’s report released in August.

As a result, Cyprus has been under pressure from the EU to tighten entry of foreigners into the scheme.

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1000 Replies | Last update 6 days ago | Last comment

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    7 days ago

    Closely following

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    7 days ago

    Following

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    7 days ago

    Following the news noted thanks 

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    7 days ago

    Following

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    7 days ago

    Started small but now a big issue 

  • »
     
    7 days ago

    Following

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    7 days ago

    Thanks for sharing this information 

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    7 days ago

    thanks for the news

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    Interesting

  • »
     
    6 days ago

    Interesting

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    7 days ago

    Thank you so much for the information very helpful 

  • »
     
    7 days ago

    Billionaires have a lot of issues

  • »
     
    6 days ago

    Nice

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    7 days ago

    Following closely

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    7 days ago

    Thanks for sharing this information keep us posted thanks once more

  • »
     
    7 days ago

    $410million that's a lot of money

  • »
     
    7 days ago

    Okay

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    7 days ago

    Following

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    7 days ago

    Interesting

  • »
     
    7 days ago

    Following 

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    7 days ago

    Thanks for updating us 

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    7 days ago

    Sad

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    Thank you for sharing this information 

  • »
     
    7 days ago

    This is interesting

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    7 days ago

    thanks for sharing

  • »
     
    7 days ago

    facing charges of tax evasion amounting to Sh41 billion ($410 million).

  • »
     
    7 days ago

    Following 

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    7 days ago

    Nice news

  • »
     
    6 days ago

    Following 

  • »
     
    7 days ago

    It's something else 

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    Why all that tax why wouldn't he be paying sure

  • »
     
    7 days ago

    Interesting news

  • »
     
    7 days ago

    The loss of passports is as a result of a Cyprus Cabinet meeting three weeks ago that decided to introduce stricter controls

  • »
     
    6 days ago

    Thanks for sharing this information I really appreciate this alot and I have been updated and I have been updated

  • »
     
    7 days ago

    Am following

  • »
     
    7 days ago

    Why are most billionaires involved vin issues like tax evasion

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    Following

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    That's bad, it will affect the business

  • »
     
    7 days ago

    Kenyan billionaire, Humphrey Kariuki, may soon have nowhere to run to after Cyprus with pressure from European Union decided to reconsider his Cypriot passport.

    Mr. Kariuki, who holds dual citizenship from Cyprus, is the owner of Africa Spirits and Wines of the World. Together with a number of directors from African Spirits Limited he is currently facing charges of tax evasion amounting to Sh41 billion ($410 million)... Thanks for sharing 

  • »
     
    7 days ago

    Mr. Kariuki, who holds dual citizenship from Cyprus, is the owner of Africa Spirits and Wines of the World.

  • »
     
    6 days ago

    Complicated lol

  • »
     
    7 days ago

    Thank you so much for the information very helpful . It's feels good to be updated 

  • »
     
    7 days ago

    world drama will never end

  • »
     
    7 days ago

    Thank you for sharing this information with us and updating us

  • »
     
    7 days ago

    So sad

  • »
     
    7 days ago

    Following up closely

  • »
     
    6 days ago

    Following

  • »
     
    7 days ago

    Following 

  • »
     

    Thank you for the update

  • »
     
    6 days ago

    Nice

  • »
     
    7 days ago

    Thanks for sharing

  • »
     
    7 days ago

    How would he do such a thing and thank you for sharing this information very interesting and informative

  • »
     
    6 days ago

    Following 

  • »
     
    7 days ago

    Thanks for sharing this information and continue keeping us updated 

  • »
     
    7 days ago

    tax invasion

  • »
     
    6 days ago

    Following

  • »
     
    7 days ago

    Cyprus throws Kenyans billlionaire to bad for him. Thanks for sharing

  • »
     
    7 days ago

    Interesting 

  • »
     
    7 days ago

    interesting 

  • »
     
    6 days ago

    This is bad for business 

  • »
     
    6 days ago

    Kenya is just having issues i guess

  • »
     
    7 days ago

    Following 

  • »
     
    7 days ago

    Wow that was a really good mob and strategy though it was some kind of weird and funny no offence though

  • »
     
    7 days ago

    Following

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    7 days ago

    Am following

  • »
     
    7 days ago

    Thanks for the update and sharing this information

  • »
     
    7 days ago

    Nice

  • »
     
    7 days ago

    Kenya billionaire, ,,,,mmmmm Cyprus...thank you for this post am following it up so far 

  • »
     
    6 days ago

    eh sad

    following

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    Following closely ,its getting interested

  • »
     
    7 days ago

    Following

  • »
     
    6 days ago

    Interesting news all under one roof. I love primes International

  • »
     
    7 days ago

    So sad 

  • »
     
    7 days ago

    Interesting build up.. Hope everything shall be done in an oerderly manner

  • »
     
    7 days ago

    Following 

  • »
     
    7 days ago

    Thank you very much for the article you've shared 

    It's very important to know about whats happening in other countries 

  • »
     
    7 days ago

    Sure for that

  • »
     
    6 days ago

    Following closely 

  • »
     
    6 days ago

    Sad

  • »
     
    7 days ago

    Thank you for sharing this information with us its very valid

  • »
     
    7 days ago

    Thanks for  sharing 

  • »
     
    7 days ago

    Following

  • »
     
    7 days ago

    Thank you for sharing this information

  • »
     
    7 days ago

    According to various news agencies from Cyprus, the crackdown could be effected as soon as the end of this month

  • »
     
    7 days ago

    Following

  • »
     
    7 days ago

    Following 

  • »
     
    7 days ago

    The man committed fraud and should face the consequences

  • »
     
    6 days ago

    noted

  • »
     
    6 days ago

    following

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    6 days ago

    Rich people are getting arrested these days 😂 

  • »
     
    6 days ago

    okay

  • »
     
    7 days ago

    good to know

  • »
     
    7 days ago

    Love this one honestly speaking, thanks for sharing

  • »
     
    6 days ago

    very well written and vital piece of information, the update is greatly appreciated.

  • »
     
    7 days ago

    Interesting news, thanks for the update. Keep us updated on the issue.

  • »
     
    7 days ago

    Follo

  • »
     
    7 days ago

    Thanks for sharing

  • »
     
    7 days ago

    Following 

  • »
     
    7 days ago

    Sad for Humphrey Kariuki....they should not do that to him and his dual passport

  • »
     
    7 days ago

    This is a interesting. 

  • »
     
    6 days ago

    Following

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    6 days ago

    Following 

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    7 days ago

    Following

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    7 days ago

    Following

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    7 days ago

    Very interesting thanks

  • »
     
    7 days ago

    Interesting

    Thanks for sharing

  • »
     
    7 days ago

    That's really sad for him

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    Ouii

  • »
     
    7 days ago

    Thanks for the update

  • »
     
    7 days ago

    Okay good to know 

  • »
     
    7 days ago

    Interesting

  • »
     
    7 days ago

    Great update

  • »
     
    6 days ago

    thanks for information, interesting article

  • »
     
    7 days ago

    Following 

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    7 days ago

    Following

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    7 days ago

    Following 

  • »
     
    7 days ago

    Money is nothing after all

  • »
     
    6 days ago

    Following 

  • »
     
    6 days ago

    enyan billionaire, Humphrey Kariuki, may soon have nowhere to run to after Cyprus with pressure from European Union decided to reconsider his Cypriot passport

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