Stella Michaelidou, the 66-year-old president of the Support Centre for People Living with HIV/AIDS (K.Y.F.A.A.), was arrested on December 9, 2024, following allegations of serious financial fraud. According to reports by 24News’ Stella Markou, Michaelidou appeared before the Nicosia District Court on December 10, where an eight-day detention order was issued for further investigation.
Michaelidou faces multiple charges, including forgery, circulating forged documents, securing money by false representation, and conspiracy to commit fraud. These charges stem from a fraudulent scheme that spanned from 2021 to 2023. Investigators found that Michaelidou and her organization submitted 51 falsified invoices to the Ministry of Health in order to secure over €122,000 in funding. The invoices raised suspicion when discrepancies in VAT rates were noticed, prompting an investigation that eventually uncovered the scheme.
The situation took a more controversial turn when Michaelidou allegedly accused a deceased Ministry official of being responsible for falsifying the invoices, though the validity of this claim remains unclear. The revelation has sparked concerns about transparency and oversight within K.Y.F.A.A., an organization dedicated to supporting individuals affected by HIV/AIDS.
The investigation is ongoing, with authorities seeking access to Michaelidou’s bank accounts to trace the flow of the illicit funds. Michaelidou, who has been detained, remains under scrutiny as prosecutors work to uncover the full extent of the fraud.
Founded in 2000, K.Y.F.A.A. is the first recognized non-profit organization in Cyprus focused on HIV/AIDS prevention and support. However, this alleged scandal threatens the credibility and future of the NGO, as public confidence in the organization is shaken.
As the case unfolds, the public eagerly awaits further updates on what is being described as one of the largest financial fraud investigations in the country’s history.
