OUTGOING Anorthosis chairman Andreas Panteli was released from police custody late last night without being charged, after detectives swiftly wrapped up their probe into allegations of financial irregularities at the football club.
Panteli, 48, was suspected of embezzling Champions League cash, with the club’s board of directors accusing him of stealing €418,000 from Champions League proceeds, and attempting to appropriate some €500,000 from the club through false pretences.
He was also being probed on suspicion of forgery, circulating forged documents and attempting to cover up the offences.
Earlier this week, Panteli resigned his post after striking a deal with the club, where he agreed to return any money “that may be found to be owed”. In return, the club dropped the charges, but the police are obliged by law to pursue their investigation.
The club is conducting an audit of its books, while police have requested a court order for the disclosure of Panteli’s bank accounts.
Panteli was questioned for two hours yesterday at CID headquarters. Reports said that Panteli did not answer any questions. He insists he is innocent.
Panteli was then escorted back to the Lykavitos police station, where he was being detained. Around 7.30pm he was hurried outside through a back entrance, avoiding media gathered at the front gate.
His release came a day before his remand was due to expire. However, he may be re-arrested if fresh evidence comes to light.
Justice Minister Kypros Chrysostomides said that Panteli was released as detectives had nothing incriminating against him at this time.
“Mr. Panteli’s detainment has been terminated precisely because all investigations in Cyprus…concerning Anorthosis have been completed,” he said.
Chrysostomides did not rule out the possibility of investigations continuing abroad. This would be decided sometime over the next few days, he added.
Earlier this week, the case investigator said that police were to travel to Greece and Switzerland to take statements from people with whom Panteli had contact for the transfer of an Anorthosis player.
The authorities’ decision to let Panteli go had nothing to do with the fact the club itself had dropped the charges, Chrysostomides said. It was now up to the Attorney-general to decide whether to prosecute.
The scandal has broke out at the worst possible timing for the club, just days before Anorthosis faces the biggest game in their history, when they take on Panathinaikos in Athens. Only a win will ensure the Cypriot squad progresses to the last 16 of the Champions League.
The affair has inevitably drawn the attention of UEFA, the administrative and controlling body for European football.
UEFA Executive Committee member Marios Lefkaritis revealed yesterday that the European body had addressed a letter to the Cypriot Football Association seeking to be briefed on the case.
“Obviously, they want to be kept posted on what is going on here in Cyprus,” Lefkaritis told the Cyprus Mail.
“This is because Anorthosis is taking part in the Champions League, otherwise UEFA would have kept away,” he added.
For the time being, Lefkaritis said, the matter is in the hands of local authorities. But in the event that investigations pointed to a sporting offence, it was possible for UEFA to become actively involved.
“But that’s hypothetical…it’s too early to speculate about that,” Lefkaritis said.
