Police in Limassol are investigating the alleged misappropriation of more than €600,000 by a former company executive, in a case involving theft, fraud and money laundering.
According to police, the Limassol CID is examining offences including theft by an employee, obtaining money by false representations, and the laundering of proceeds from illegal activities. The alleged offences are said to have been committed between 2023 and 2026.
A 39-year-old man has been arrested in connection with the case.
Allegations by company director
Police said the investigation was launched following a complaint filed by a company director, who accused the suspect, a former senior executive, of misappropriating €610,215 over the specified period.
In addition, the suspect is alleged to have signed, on behalf of the company, customs clearance documents for a lifting machine after his dismissal, despite not having authorisation to do so.
A court warrant was issued for his arrest, and he was taken into custody on Saturday to facilitate police inquiries.
The Limassol CID continues its investigation.
Source: CNA
