A 62-year-old businessman has been placed in custody as police investigate 11 separate cases involving an estimated €12 million.
The alleged offences were committed in the Larnaca district between 2022 and 2024 and include obtaining money under false pretences, forgery and fraudulent transactions.
Arrest under a court warrant
According to police, the businessman was arrested on Tuesday under a court warrant issued as part of the ongoing investigation.
He is being investigated for alleged conspiracy to commit a felony, obtaining money through false representations, forgery, circulating forged documents and other related offences.
Investigations continue
The Larnaca District Court on Wednesday approved a police request for the suspect to remain in custody for four days.
The total amount allegedly obtained through the transactions is estimated at approximately €12 million.
The Larnaca Criminal Investigation Department is continuing its inquiries.
