Fidias under investigation for embezzling EU funds, reports say

Cypriot MEP Fidias Panayiotou is under investigation on suspicion of embezzling EU funds, reports said on Tuesday, although the MEP himself said he is unaware of any such probe.

Contacted by newspaper Phileleftheros, Panayiotou – aged 25 – said he had no “official information” that he’s the subject of an investigation.

He said he was aware of the media reports, and that he planned to “respond” in a video he would upload in the coming days.

According to Phileleftheros, Politis and other news websites, the influencer-turned-politician is being investigated by the European Public Prosecutor’s Office. Some news sources claimed the matter is also being looked into by Olaf – the European Anti-Fraud Office.

According to the reports, the allegations against Panayiotou were initially made about one to two months ago, to Cyprus’ anti-corruption authority.

The allegation is that he used EU funds to rent a villa – others say an apartment – in Limassol, declaring the premises as ‘office space’.

The rent is said to be around €5,000 to €6,000 a month.

Cyprus’ anti-corruption authority looked into the matter, and passed on its findings to European authorities.

Though the anti-corruption authority will not comment publicly, Politis said it has confirmed that the authority has passed on the information to European prosecutors who are currently investigating.

Another news website sensationally claimed that Laura Kovesi, the European Chief Prosecutor, has instructed that the investigation be expedited so that it wraps up prior to May, when parliamentary elections will take place in Cyprus.

Contesting the upcoming elections will be the new political party Direct Democracy, founded by Panayiotou in October 2025.

In the June 2024 elections for the European parliament, Panayiotou ran as an independent, garnering 71,330 votes and winning a seat.

His channel on YouTube has 2.67 million subscribers.