OPEN Letter to Cyprus Courts: Regarding Court case 525/2022

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This letter is drafted to bring to your attention pertinent details from a parallel legal proceeding in Russia, which bears significant relevance to the case before you, case number 525/2022, ECLI:CY: EDLEF:2023:A141, ECLI:CY: EDLEF:2023:A133.

The preliminary  hearings were held, and decisions were made on the 3rd of January, 2023 and the 16th of March, 2023. We cannot find any other information online about subsequent decisions, but we are able to see the case continues to be given directions. 

This civil case in Cyprus involves NOA Circle Ltd and several victims from Russia in relation to the QBF fraud case. NOA Circle Ltd, a provider of professional and fiduciary services for QBF, is being sued by the victims for the disclosure of information. 

The integrity of judicial processes is paramount, and several court proceedings overseas present a different version regarding the role of NOA Circle, its owners, and its directors than what has been alleged and attempted to be presented to this court. Evidence from various court cases and investigations across multiple countries, including the Russian Federation, the Hong Kong Special Administrative Region of the People's Republic of China, the Cayman Islands, the United Kingdom of Great Britain and Northern Ireland, the Republic of Vanuatu, the Grand Duchy of Luxembourg, the Republic of Armenia, and other jurisdictions, depict a contrasting picture concerning their actions and involvement. 

Specifically, a comprehensive investigation by the Russian courts revealed crucial details that may call into question the actions and credibility of the parties involved in the dispute before this esteemed court and under your jurisdiction.

We do not intend to undermine the procedures or bypass any of the rules of your esteemed court. However, it is crucial to highlight that Numerous individuals have repeatedly tried to alert Cypriot authorities, Police, regulators, and professional institutions—about various issues related to this case, providing substantial evidence. Despite these efforts, there has been no adequate response. Alarmingly, suspects have often become aware of these reports and have retaliated by filing false police reports against whistleblowers. The whistleblowers, in turn, have repeatedly informed the police of the crimes committed by these suspects and the fact that they were witnesses against them, only to be told they needed to file new reports with different departments, thereby ignoring the motives of the false accusers.

While we do not seek to critique the internal workings of law enforcement, as Cyprus taxpayers, we expect a level of coordination akin to that in business environments, where different departments collaborate to resolve issues. Unfortunately, this level of coordination seems to be lacking, allowing these suspects to continue their fraudulent activities unimpeded. The result has been a disjointed system that fails to deliver justice. No actions have been taken against the false accusers, even though the allegations against the whistleblowers were found to be baseless.

We appreciate that different court jurisdictions and proceedings address different matters, but evidence from the Russian court proceedings directly contradicts what has been claimed in your court by Mr. and Mrs. Athanasiadou. These contradictions potentially make the statements provided by Mr. and Mrs. Athanasiadou false, indicating they may have lied to the court. We believe someone should review and compare the statements made in both jurisdictions. We understand this is not the court's job and is not something we can formally request from you, but we have tried reporting this to several authorities with no result. Each attempt has placed us in difficult situations.

The Russian proceedings have surfaced critical evidence and testimonies that appear to contradict the assertions made by Mr. and Mrs. Athanasiadou in your esteemed court. This evidence is crucial as it highlights potential discrepancies in the narrative presented to you, specifically regarding the financial and business dealings of Mr. and Mrs. Athanasiadou, which are central to the case at hand.

Given the gravity of the discrepancies between the testimonies in Cyprus and the findings in Russia, the Cyprus court must seriously consider this new evidence. The details suggest that there may have been attempts to mislead the court by presenting information inconsistent with the facts established in the proceedings in Russia. The same evidence was presented to authorities in Cyprus as well as other professional organizations, yet it was repeatedly lost and ignored. This evidence includes communications, emails, recordings, and other relevant records. This raises questions about the reliability of the testimonies offered by Mr. and Mrs. Athanasiadou and impacts the overall assessment of the case.

We have reported these issues to several authorities. Still, unfortunately, we know that files 'have been ignored and lost', and our efforts to communicate the gravity of the situation have been in vain. We have reached a point where we do not know what more can be done to ensure that the right hand speaks to the left within the justice system. Instead of addressing the subject matter comprehensively, the system's disjointed approach allows these criminals to continue defrauding people. We are confident that if the court had been fully aware of these facts, it would have reacted very differently because, ultimately, the court must have known it was being misled. These individuals use various legal techniques to avoid exposing this information to the court. Having exhausted all legal avenues, we believe this open letter is the last way we can bring these matters to the court's attention, hoping that justice will prevail and the integrity of the judicial process will be upheld.

This correspondence aims to ensure that the Cyprus court has a complete and comprehensive understanding of all relevant facts and evidence, including those from external jurisdictions, to make an informed and just decision. We hope that the rule of law and the bound responsibilities of people involved in court proceedings—lawyers, police, and other professionals or individuals related to the matter—will ensure actions are taken against these false statements. The damages we have suffered from these people prevent us from exposing ourselves again to the authorities when making reports, as nothing happens, and it potentially leads to the suspects taking retaliatory actions against us, causing further problems. Therefore, we have decided to write this open letter, hoping that justice will prevail and the integrity of the judicial process will be upheld.

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The legal proceedings in Russia, which are central to the context of this letter, involved a comprehensive investigation into alleged fraudulent activities by Mr. and Mrs. Athanasiadou. The Russian court meticulously examined a series of financial transactions and business dealings that were purportedly used to misappropriate funds. The evidence presented included detailed financial records, witness testimonies, and expert analyses, which collectively pointed to a deliberate scheme to defraud investors and business partners. The criminal investigation in Russia obtained several documents and evidence from witnesses, convicted parties—some of whom pleaded guilty and provided further evidence to the police—and from the seizure of all the computers and records from the QBF office in Russia. This included WhatsApp communications, voice recordings, emails, and substantial data. This information details and proves the roles that Apollon and Linda Athanasiadou played in QBF, not only as nominees as they claimed but also in setting up the entire operation. They provided instructions on ensuring they would not be held accountable if the police investigated them and to protect other parts of the criminal organization from exposure. In certain instances, the evidence was unequivocal, such as in WhatsApp communications between Linda Athanasiadou, Roman Shpakov, and other members of the QBF criminal organization, where they gave explicit instructions on setting up structures and what to say or not say to avoid legal issues.

As part of the evidence in the court proceedings in Russia, it was revealed that Mr and Mrs Athanasiadou had established multiple shell companies to facilitate their fraudulent operations. These entities were used to funnel funds into various business accounts, legalizing the criminal money stolen from the victims. They withheld a percentage for themselves and remitted the rest to the accounts of Roman Shpakov. The court was presented with emails and documents that explicitly illustrated the couple's involvement in the decision-making processes that led to the misappropriation of substantial sums. This evidence was contrary to the narrative presented in the Cyprus court, where Mr and Mrs Athanasiadou claimed minimal involvement in the operational aspects of their businesses. Additionally, they used various companies with nominees to disguise and hide their roles, but they manipulated and orchestrated everything from the background.

The court's findings and overwhelming evidence, including witness statements, implicated and proved Mr and Mrs Athanasiadou's involvement in the QBF scam. This evidence highlighted their sophisticated methods of concealing their fraudulent activities. It established that they were not mere nominees but proactive participants who took deliberate actions to hide their crimes and ensure they would not be caught. This verdict is particularly relevant to the Cyprus case, as it directly contradicts the defence by Mr and Mrs Athanasiadou, who have portrayed themselves as unwitting participants in the alleged fraud.

The Russian court's findings provide a critical perspective on the credibility of Mr. and Mrs. Athanasiadou's testimony in the Cyprus proceedings. The detailed documentation and testimonies reviewed by the Russian court shed light on the discrepancies in the couple's accounts of their business practices and financial dealings. Evidence such as WhatsApp communications, emails, voice recordings, and witness statements from individuals who pleaded guilty demonstrate that Mr. and Mrs Athanasiadou were deeply involved in the fraudulent activities. This evidence is crucial for the Cyprus court to consider, as it not only questions the integrity of the testimonies provided by Mr and Mrs Athanasiadou but also underscores the need for a thorough reevaluation of the evidence they have presented.

Furthermore, witness reports made to Cyprus police before the investigations in Russia, were ignored, and no action were taken. After seeing news coverage of the QBF scandal, these witnesses flew to Russia to provide critical evidence despite the European Union's clear instructions not to travel to Russia due to the Ukraine conflict and safety concerns. Their bravery and the evidence they provided were crucial in putting together the full scope of the crime. The findings from the Russian court case present significant legal implications for the proceedings currently before the Cyprus court. 

The evidence of deliberate misrepresentation and fraudulent activities by Mr. and Mrs. Athanasiadou, as established in Russia, necessitates a reevaluation of the credibility of their testimonies and claims in Cyprus. This evidence is not merely supplementary but central to the integrity of the judicial process in Cyprus, as it directly challenges the accuracy and honesty of the information provided by the defendants.

(qbf exposed qbf fraud case)

Examining the court documents from Cyprus and Russia reveals significant discrepancies in the testimonies and information Mr. and Mrs. Athanasiadou provided. One of the most glaring inconsistencies is their personal and business involvement (via NOA Circle and Aelius Circle) with the QBF criminal organisation and entities. 

In the Cyprus proceedings, Mr and Mrs Athanasiadou portrayed their roles as merely peripheral, suggesting they were minimally involved in the operational decisions of these companies. However, evidence from the Russian court paints a starkly different picture, where both individuals and their Cyprus-controlled entities are shown to have played central, active roles in the QBF criminal organisation's strategic and operational management.

Furthermore, as detailed in the Russian documents, the financial transactions and regulatory interactions involving Constance Investment and CYSEC indicate a sophisticated understanding and manipulation of economic and regulatory frameworks. This contrasts sharply with the narrative in Cyprus, where Mr. and Mrs. Athanasiadou have claimed ignorance or limited knowledge of these dealings. The Russian documents include detailed records of transactions designed to obscure the flow of funds, directly implicating Mr. and Mrs. Athanasiadou in these schemes. Such evidence strongly suggests that the narrative provided to the Cyprus court was tailored to evade accountability and mislead the judicial process.

Before the investigations in Russia, police reports were made in Cyprus regarding QBF, NOA Circle, and the roles of Apollon and Linda Athanasiadou. These reports, made to the police in Nicosia, the Financial Crime Unit, CYSEC, and the Association of Accountants (SELK), were reportedly lost or no further actions were taken. When the individuals who filed these reports inquired about their status, they found that the reports were mishandled, and procedural misuses were evident, preventing a proper investigation into their claims.

Additionally, Mr. and Mrs. Athanasiadou operated several regulated financial and professional firms, which granted them a presumed status and recognition. This allowed them to effectively discredit individuals reporting their fraudulent activities. Notably, they instructed QBF to obtain several financial and professional licenses worldwide, a task exclusively handled by Apollon and Linda. This strategy was designed to add credibility and recognition to their operations, thereby misleading investors and authorities about the legitimacy of their activities.

The Russian documents include detailed records of transactions designed to obscure the flow of funds, directly implicating Mr. and Mrs. Athanasiadou in these schemes. Such evidence strongly suggests that the narrative provided to the Cyprus court was tailored to evade accountability and mislead the judicial process. Additionally, the Russian proceedings highlighted direct contradictions in the statements made by Mr. and Mrs. Athanasiadou regarding their financial practices and business strategies. For instance, while they denied certain economic activities in Cyprus, the Russian documents provided concrete evidence of their direct involvement in these same activities. This pattern of contradictory statements indicates an attempt to mislead and undermine the credibility of their entire defence in the Cyprus court.

These discrepancies are critical as they challenge the integrity of the testimonies provided by Mr and Mrs Athanasiadou and suggest a deliberate strategy to manipulate legal outcomes in their favour. These contradictions must be thoroughly examined to ensure justice is served and misinformation does not compromise the judicial process.

(qbf exposed qbf fraud case)

The findings from the Russian court case present significant legal implications for the proceedings currently before the Cyprus court. The evidence of deliberate misrepresentation and fraudulent activities by Mr. and Mrs. Athanasiadou, as established in Russia, necessitates a reevaluation of the credibility of their testimonies and claims in Cyprus. This evidence is not merely supplementary but central to the integrity of the judicial process in Cyprus, as it directly challenges the accuracy and honesty of the information provided by the defendants.

Given the gravity of the discrepancies between the testimonies in Cyprus and the findings in Russia, it is imperative that the Cyprus court considers this new evidence with the utmost seriousness. This consideration is crucial not only for the resolution of the current case but also for upholding the standards of justice and fairness in the judicial system. Therefore, I formally request that the Cyprus court take into account the findings from the Russian proceedings and evaluate the implications of these findings on the ongoing case.

Furthermore, to ensure a comprehensive and just examination of the case, I suggest that the Cyprus court coordinates with law enforcement agencies. This coordination could involve sharing information and possibly conducting a joint investigation to fully uncover the extent of the fraudulent activities and the involvement of Mr. and Mrs. Athanasiadou. Such steps would not only aid in the current case but also enhance the overall effectiveness of legal actions against similar cross-border fraudulent schemes.

In conclusion, the integrity of the judicial process relies heavily on the accuracy and honesty of the information presented. The discrepancies highlighted by the Russian court case are of such a nature that they could potentially alter the outcome of the proceedings in Cyprus. It is, therefore, crucial that these findings are given due consideration, and appropriate legal actions are taken to ensure that justice is served in a fair and equitable manner.

(qbf exposed qbf fraud case)

This letter has outlined significant evidence from the Russian court proceedings that cast doubt on the testimonies provided by Mr and Mrs Athanasiadou in the Cyprus court. The discrepancies noted between their statements in Cyprus and the findings in Russia suggest a deliberate attempt to mislead and manipulate the judicial process. These findings must be considered carefully to ensure the integrity of the legal proceedings and uphold the principles of justice and fairness.

To aid in your review, I have enclosed detailed documents and records from the Russian legal proceedings. These include transcripts of testimonies, financial records, and the final judgments, which collectively provide comprehensive insight into complete understanding of Mrs. Athanasiadou's actions and inconsistencies. These documents are essential for fully understanding the context and implications of the evidence presented.

I trust that the Cyprus court will review this information thoroughly and take the necessary steps to coordinate with law enforcement agencies as needed. This will address the current case with the depth it requires and set a precedent for handling similar cases of cross-border fraud in the future. Your efforts will contribute significantly to the broader pursuit of justice and legal integrity.

Allowing a few corrupt individuals to manipulate our system jeopardizes our country's credibility and future. We, as Cypriots, will not accept such behavior to tarnish our reputation and global standing. Justice is a collective responsibility, and we will do whatever it takes to ensure that justice prevails and that such abuses never happen again.

This correspondence aims to ensure that the Cyprus court has a complete and comprehensive understanding of all relevant facts and evidence, including those from external jurisdictions, to make an informed and just decision. We hope that the rule of law and the bound responsibilities of people involved in court proceedings—lawyers, police, and other professionals or individuals related to the matter—will ensure actions are taken against these false statements. The damages we have suffered from these people prevent us from exposing ourselves again to the authorities when making reports, as nothing happens, and it potentially leads to the suspects taking retaliatory actions against us, causing further problems. 

We understand that this might not be within your jurisdiction or within your authority, but at least maybe it's a starting point for justice to be ensured because we've tried everything we could, and every time instead of justice going forward, we find ourselves being in trouble. This is not acceptable. Therefore, we have decided to write this open letter, hoping that justice will prevail and the integrity of the judicial process will be upheld.

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