Criminal figure Stavros Demosthenous, linked to Russian businessman Dmitriy Punin and his Pin-Up, shot dead in Cyprus

In Cyprus, criminal figure Stavros Demosthenous, linked to Dmitriy Punin and his Pin-Up business, was shot dead.

On the territory of Cyprus, hitmen killed Stavros Demosthenous, the chairman of the second division football club "Karmiotissa" and simultaneously the most influential local mobster with extensive connections.

Demosthenous was actively involved in the wars of Russian oligarchs over Cypriot assets. When a wave of illegal seizures of Russian businessmen’s properties began on the island, he found himself at the center of events, Rucriminal reported.

Several well-known millionaires from Russia lost their Cypriot companies, and their assets "miraculously" ended up in the hands of partners or competitors—without their knowledge or consent. In some cases, information about these raider seizures reached the press and was even discussed in the government, but despite the scandals, no one was punished. Moreover, one of these episodes became the reason for a loud accusation of corruption against the Attorney General’s Office of Cyprus.

 The affected businessman’s lawyer openly stated that senior officials in the prosecutor’s office were covering up illegal property seizures and even named the bribe amount received by prosecutors. Demosthenous’ influence proved stronger than Cypriot laws. For his "services" in these schemes, he earned tens of millions of euros. Recently, Demosthenous was known as the "roof" of the Russian-Ukrainian businessman, the owner of the entire casino empire "PIN-UP," Dmitriy Punin.

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The fatal shot was fired on Friday around 9:30 in the morning when Demosthenous was sitting in the passenger seat of the car driven by his 18-year-old son. The shooting occurred about 500 meters from the victim’s house as the car was moving. The victim was shot from a car driving ahead of them.

After the shooting, Demosthenous’ son drove toward the hospital but had an accident on the highway. He then stopped another car and asked the driver to take them to the hospital.

Demosthenous was taken to Limassol General Hospital, where he was declared dead.

Police reported that the suspects were believed to have been traveling in a white van that left the scene immediately after the shots were fired.

The vehicle believed to have been used by the perpetrators was stolen on September 4. Later, it was found burning near the crime scene and was seized by police for forensic examination. Investigators say they are tracking CCTV footage and witness testimonies to map the vehicle’s movements from the time of theft and link it to the suspects.

Police stated that the murder appeared to have been carefully premeditated.

In 2022, Dmitriy Punin acquired the Cypriot football club "Karmiotissa." However, by the end of 2023, after a series of scandals related to allegations of match-fixing, he sold the club to his business partner Stavros Demosthenous. According to several well-informed sources, the deal was fictitious. They claim that Punin hid to avoid potential legal and financial problems associated with the investigation of match-fixing.

Demosthenous controls an extensive network of betting points on the island, and according to those same sources, Punin’s club conducted match-fixing in coordination with Demosthenous’ betting houses.

The main source of income for Punin is the laundering and legalization of money obtained from the activities of the online casino "PIN-UP." Everything else—elite restaurants, wine boutiques, entertainment venues, and the football club—are a cover for this activity and a way to distract attention from suspicious financial flows.

Through a network of companies registered in Cyprus and offshore jurisdictions, astronomical sums generated from the gambling business are moved around in circumvention of strict laws.

Punin makes his main investments in the island secretly, non-publicly. He buys everything he can reach, and a large part of his secret assets are registered under Stavros Demosthenous and his trusted individuals, thus hiding his investments.

Who is Stavros Demosthenous? The head of one of the most influential mafia clans, with deep ties in the island’s criminal world. Stavros is the godson of the legendary crime boss Antonis Fanyeros, a close associate of the first president of the Republic of Cyprus, Archbishop Makarios, who was once called the "boss of all bosses" of the Cypriot mafia.

In the 1990s, a bloody criminal war was raging in Limassol between gangs for control of the city. Among them was Stavros and his gang. He was fighting for the opportunity to control racketeering and receive income from nightclubs, illegal casinos, brothels, car dealerships, and other profitable objects.

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Possessing a rampant and highly aggressive nature, Stavros emerged victorious from this battle by the early 2000s.

To the credit of Stavros Demosthenous, it is worth noting that he never engaged in drug trafficking, considering this type of criminal activity dirty and unworthy. For this, he acquired a reputation in certain circles as a "noble gangster"—a person who adheres to the strict rules of the criminal code of honor.

Stavros Demosthenous owned the Sesto Senso nightclub in Limassol, which in the 1990s and early 2000s was an extremely popular venue in the city.

This club was often frequented by Theophanis (Phanos) Philippou, a partner in the law firm Nicos Chr. Anastasiades and Partners LLC, founded by Nikos Anastasiades.

Phanos became acquainted with Stavros, and they became friends. Stavros often bailed his friend out when he got into difficult situations, mainly these were conflicts over women. One could say that Stavros took on the role of Phanos’ protector and helped him solve his problems. Phanos quickly realized the prospects from collaborating with the most powerful bandit in Limassol and introduced Stavros to his business partner, lawyer Nikos Anastasiades.

From that moment, Stavros Demosthenous’ gang turned into a combat squad for lawyer Nikos Anastasiades. In cases where it was not possible to achieve their goals through legal methods, they resorted to the help of bandits.

According to sources, using force and intimidation, Demosthenous pressured people and forced them to sign necessary documents, transfer ownership of real estate, rewrite businesses to other persons, intimidated witnesses obstructing the lawyer and his clients, or simply took their money. In exchange for his services, Stavros received a generous share of the profits. The business thrived.

The alliance between the lawyer and the gangster became a prototype of the functioning system of power in Cyprus, where state and criminal structures are closely intertwined, forming a single state organism.

In 2013, Nikos Anastasiades was elected president of the Republic of Cyprus. Needless to say, after this, unprecedented opportunities opened up for Stavros Demosthenous. The newly elected president of Cyprus handed Limassol over to his tamed bandit almost entirely.

From this moment begins the unstoppable rise of Stavros Demosthenous and his relatives to the heights of wealth and business success. This does not mean that Stavros broke with the bandit craft, not at all. He, like no one else in Cyprus, managed to create an effective symbiosis of business, organized crime, and power, which became a model of the functioning system of power in Cyprus, where state and criminal structures are closely intertwined, forming a single state organism.

His success is directly linked to the support of Anastasiades. Without the patronage of the president of the country, such a rapid rise in Demosthenous’ influence and wealth would have been impossible.

Anastasiades handed over the port of Limassol to him. Taking advantage of this, Stavros, already having a business selling used cars, began importing cars of the most expensive and prestigious brands from England. The main feature of these cars was that they were stolen. For this, Stavros agreed with the English "brotherhood," who hijacked expensive cars, loaded them into containers, and sent them to their Cypriot colleague under false documents. Customs at the port of Limassol noticed nothing strange and processed all the necessary documents.

In Cyprus, many knew about the close relationship between the bandit and the president, but they said nothing and pretended that nothing was happening.

Very quickly, the company owned by Stavros and his brother became the largest in Cyprus.

In these years, wealthy citizens from Russia were moving en masse to Cyprus, with corresponding habits and lifestyle. They bought the same cars they were used to driving at home, and the best selection of expensive cars was in Stavros’ showroom. He unmistakably recognized the potential of each buyer and not just sold them cars, but offered them help in solving their problems on the island and became their "friend." Every immigrant, even a very rich one, faces various difficulties in a new country: someone needs to speed up obtaining a residence permit, someone cannot open a bank account, someone needs a license to open a business, etc. Stavros helped everyone and masterfully made many dependent on him. Some turned to him for help in obtaining Cypriot citizenship. They were taken to his friend Phanos, and with the help of his partner-president, they became holders of a Cypriot passport.

A Russian businessman living in Cyprus, on condition of anonymity, told us that in Limassol, Stavros participates in every business owned by Russians. "Dig into any company, and you will find Stavros there," our source said.

Connections with the highest political circles of Cyprus turned Stavros Demosthenous into one of the most influential and dangerous figures on the island. He allows himself much of what any other citizen would be immediately prosecuted for. With complete impunity, he became the shadow ruler of Limassol, possessing an influence that many high-ranking officials do not have. He not only controls the criminal world—he solves issues that determine the fate of business, politics, and justice on the island.

Demosthenous is the person whom representatives of the Cypriot political elite turn to when they cannot solve their problems by legal methods. He can make the police turn a blind eye to a crime, influence a judge’s decision, force a minister to adopt the necessary resolution, and no one dares to object. At Demosthenous’ disposal is a sprawling network of influence encompassing law enforcement, the judicial system, and the government. For example, with one phone call to the Minister of Health, he can arrange for the necessary person to be sent for treatment abroad, even if the ministry previously categorically refused such assistance. Or he can send his people to a judge’s relative who is considering an important case so that he "explains" what decision should be made.

Demosthenous demonstrated his capabilities in the war of Russian oligarchs over Cypriot assets. When a wave of illegal seizures of Russian businessmen’s properties began on the island, he found himself at the center of events. Several well-known millionaires from Russia lost their Cypriot companies, and their assets "miraculously" ended up in the hands of partners or competitors—without their knowledge or consent. In some cases, information about these raider seizures reached the press and was even discussed in the government, but despite the scandals, no one was punished. Moreover, one of these episodes became the reason for a loud accusation of corruption against the Attorney General’s Office of Cyprus. The affected businessman’s lawyer openly stated that senior officials in the prosecutor’s office were covering up illegal property seizures and even named the bribe amount received by prosecutors. Demosthenous’ influence proved stronger than Cypriot laws. For his "services" in these schemes, he earned tens of millions of euros.

Dmitriy Punin was born in 1985 in Moscow, into a family of a high-ranking RZD employee. In 2001, he was convicted under criminal article 158, part 2 (theft), and received a two-year suspended sentence for robbing a grocery store.

Punin claims to be a graduate of Moscow State University. In reality, this is a lie; he does not have a higher education. He graduated from the Moscow College of Railway Transport with a specialty in "rolling stock technician."

In 2019, Punin settled in Cyprus and immediately attracted attention with his demonstratively luxurious lifestyle and provocative behavior.

On the island, he registered several dozen companies, some of which are registered to nominees and trusted individuals.

Punin is the owner of Pin-Up Global and the founder of PUNIN Group, a holding company actively developing business in Cyprus. According to the Cypriot press, PUNIN Group owns a number of prestigious real estate sites and businesses in Limassol. Among them:

•      multifactorial office centers and retail stores,
•      concert venue ZANTE VENUE,
•      wine boutiques PUNIN WINE and Le Frenchie (Le Petit Marche),
•      gastro-bar MIXOLOGY BAR,
•      restaurants Do Grill House and Le Frenchie,
•      pastry shop TOY Confectionery,
•      aesthetic services center Prive Aesthetic by Punin,
•      fast food chain The Shawarma by Punin.

These businesses are positioned as elite and targeted at a wealthy audience.

In Limassol, the name of his establishments can be seen on every corner. The logo of his company PUNIN WINE appears everywhere. Many city buses are covered with advertisements bearing his surname. Marketing campaigns span all possible channels—from social networks to radio and print media, never letting you forget for a moment that millions of people are lucky to live on the same island with Punin.

Such aggressive marketing and the dominating presence of Punin’s brands raise questions for many in Cyprus and beyond regarding the sources of his wealth and the legality of the methods he uses to promote his business.

An egotist and narcissist by nature, he genuinely believes he has made Cyprus a better place.

However, he is not alone. Similar confidence is expressed by practically all Russian businessmen who have settled in Cyprus. Representatives of other nationalities, who also conduct business on the island, behave much more modestly, avoiding self-promotion.

In March, Punin gave an interview to several Cypriot media outlets where he talked about the prospects of conducting business in Cyprus. In it, he mentioned a phrase that explains the success of his business projects on the island: "When choosing a place to invest, it is crucial to conduct thorough research and find reliable partners with vast experience and administrative capabilities." Before starting a business on the island, Punin was looking for a partner who could take care of all the issues of interaction with the authorities, banks, and supervisory bodies. Someone with the ability to quickly resolve problems with contractors, debtors, and competitors. Someone who has connections at the highest level, can resolve any issue in government, expedite the approval of any project at any level, provide forceful support in eliminating competitors, and collect debts from debtors.

In simpler terms, he was looking for a powerful "roof." Such a partner, or rather patron, for Punin, became the leader of one of the most influential mafia clans in Cyprus, Stavros Demosthenous.

Dmitriy Punin’s choice in favor of Demosthenous as a patron was quite deliberate. He thoroughly studied his capabilities and work methods. According to informed sources, it was Demosthenous who arranged for the arson of the cars of Punin’s competitors at his request—of course, the police did not find the culprits. And journalists who dared to criticize Punin faced harsh pressure: some media outlets removed exposing articles after pressure from Demosthenous, and several journalists received threats of physical violence.

Feeling the support of Demosthenous behind him, Punin behaved extremely arrogantly and rudely. According to eyewitnesses, he regularly grossly violates traffic rules, but the police seem not to notice this. As a source in the law enforcement agencies told us, no policeman wants to mess with Demosthenous and risk their position, knowing about his connections in the leadership of the Ministry of Internal Affairs.

Автор: Dmitriy Dagulis