A list published by the Politis newspaper in Cyprus includes dozens of billionaires © Getty Images / hamzehsh12Cyprus has revoked 77 passports from people who acquired citizenship through the country’s “golden visa” scheme, as part of action to address concerns surrounding the once-lucrative program, the Politis newspaper has reported, publishing a list of individuals whose access to the scheme has been revoked.False declarations, failure to meet local naturalization requirements and criminal backgrounds were among the key reasons for revoking the passports, according to the publication. Cyprus scrapped its controversial golden visa program in 2020. The scheme had allowed foreigners to secure residence and citizenship rights, as well as guaranteeing visa-free travel throughout the EU in return for investments of at least €2 million ($2.1 million) into the country’s economy. The decision followed allegations that local lawmakers and state officials were allegedly involved in issuing a passport to a Chinese businessman with a criminal record. Passports issued to the family members of those listed have also been revoked, according to Politis, which also reported the existence of a secret list with nine additional names, bringing the total number to 86.All cases of revoked passports will be further investigated by the Cypriot police, Politis added. READ MORE: Spain to end golden visa program The list of names released by the newspaper includes a number of Russians and Ukrainians. Ukrainian oligarch Igor Kolomoysky, a once-powerful media tycoon who was arrested on the orders of Vladimir Zelensky last year, and Oleg Bakhmatiuk, owner of the agricultural company UkrLandFarming, are listed in the published file.It also includes several Russians from the Forbes Billionaires List, such as aluminum magnate and Rusal founder Oleg Deripaska, owner of the Mercury Group and Megapolis Group Igor Kesaev, majority Safmar Group shareholder Mikhail Gutseriev, Alfa Group co-founder Aleksey Kuzmichev, construction tycoon and former chairman of the board of Moscow’s Sheremetyevo International Airport Aleksandr Ponomarenko, longtime chairman of agro-industrial firm Rusagro and former Russian MP Vadim Moshkovich, and co-founder of Russian discount retail chain Fix Price and owner of Cypriot football club Pafos FC Sergey Lomakin.Media reports emerged in 2022 that some of those listed by Politis, including Gutseriev, Kuzmichev, Ponomarenk, and Moshkovich, faced denationalization in Cyprus. Deripaska was reportedly stripped of his Cypriot passport in 2019. The country’s Interior Ministry had previously refused to disclose the names targeted by the annulment. Source