Former Central Bank of Cyprus (CBC) Governor Christodoulos Christodoulou was on Monday sentenced to five months prison time in relation to tax offences covering a €1 million undeclared cash transfer from a Greek shipowner. The Court also ordered his company (A.C Christodoulou Consultants Ltd) to pay an amount of 13,500 euro.
Christodoulou pleaded guilty last month to six charges of tax offences after the state went after him over the transfer of €1m to the company managed by his daughter in 2007, just a few months after his term as governor expired. Christodoulou also served as Minister of Finance and the Interior prior to his appointment as CB Governor.
