€3.4m assets frozen as Koumas faces trial on 25 charges

Assets worth €3.4 million belonging to former Football Association president Giorgos Koumas have been frozen by court order, with proceedings advancing ahead of his plea hearing in May.

The order, issued by the district court on Friday, was confirmed on Tuesday as part of an ongoing criminal case involving allegations of conflict of interest and money laundering.

The freeze applies to real estate and funds held in bank accounts within Cyprus and was secured following an application by police through the anti-money laundering unit (Mokas).

Authorities said the measure ensures that, in the event of a conviction, the assets “will be forfeited to the state”.

Koumas is due to enter pleas on May 6 before the Nicosia district court, where he faces a total of 25 charges.

Twenty-three counts relate to alleged conflicts of interest during his tenure in Cypriot football administration, while two counts concern the laundering of €6,562,447.

Prosecutors allege that Koumas held simultaneous roles which created a financial conflict, serving as a senior football official while also maintaining shareholdings in two companies, Triple AAA Productions Ltd and Triple AAA Village Studios Ltd.

These entities were involved in the production and broadcasting of football matches and related services, including livestreaming.

The charges span contracts signed between 2014 and 2025, a period during which the companies secured agreements with various organisations linked to sports broadcasting.

According to the indictment, this dual capacity created an “incompatibility” by allowing financial benefit from activities directly connected to organised sport while holding an influential regulatory role.

The two money laundering charges relate to profits generated by the companies over that period.

Triple AAA Productions Ltd recorded revenues of €4,994,698, while Triple AAA Village Studios Ltd generated €1,567,749.

Koumas first appeared before the district court on February 26, when the case was formally presented.

He was released on a bail of €100,000 alongside a third-party guarantor.

A total of 33 witnesses are expected to testify during the proceedings.

The case stems from a wider investigation into the management of football television rights and related financial arrangements in Cyprus led by independent investigator Alexandra Lykourgou.

At the centre of the inquiry were claims that financial flows linked to television rights may have been influenced by decision-making within the football association.

Koumas has denied any wrongdoing throughout the process and maintains that his actions were lawful.

Resigning from his position in June 2025, he said the decision was taken to “protect football from further controversy”, adding that “the sport must stop being attacked because of me”.