Newsroom
A 62-year-old businessman from Larnaca has been arrested as part of a major police investigation into an alleged web of property fraud, forged documents, and money laundering.
The arrest was made on Tuesday by officers from the Larnaca Criminal Investigation Department (CID), following an investigation into what police describe as a series of serious financial crimes allegedly committed between 2022 and 2024.
According to investigators, the case involves 10 separate offenses, ranging from fraud and forgery to suspicious real estate transactions and the alleged laundering of illegally obtained money.
Police say the businessman is suspected of offenses including conspiracy to commit a felony, obtaining money through false representations, preparing and using forged documents, carrying out fraudulent transactions involving property belonging to others, and defrauding creditors. He is also being investigated for allegedly falsifying company accounts while acting as a company director.
While authorities have not released further details about the alleged scheme or how many people may have been affected, the list of offenses suggests investigators believe the case involves both financial deception and questionable property dealings.
The suspect is expected to appear before the Larnaca District Court on Wednesday, where police will ask the court to keep him in custody while the investigation continues.
The Larnaca CID is continuing its investigation.
