Newsroom
A 32-year-old Ukrainian woman who brought nearly €8 million into Cyprus over the course of 20 trips has been sentenced to 20 months in prison by the Larnaca Permanent Criminal Court.
The case, which first grabbed headlines after the woman reported being robbed of €420,000 in Limassol, ended with the court convicting her on charges linked to false declarations made to Customs authorities.
However, the court also ruled that prosecutors failed to prove the money was connected to any criminal activity. As a result, the woman was acquitted of 20 money laundering charges, offences that carry prison sentences of up to 14 years.
A 43-year-old Ukrainian man who was also facing money laundering charges in connection with the case was likewise cleared.
The investigation began on March 1, 2024, when the woman told police she had been robbed by two people riding a motorcycle in Limassol. She claimed the suspects made off with €420,000 in cash.
The complaint triggered a wider investigation that uncovered an unusual pattern of travel. Authorities found that between August 2023 and March 2024, the woman had entered Cyprus 20 times, transporting a total of €7,769,300.
Police later arrested the 43-year-old man after investigators alleged he had received a package from the woman on the same day as the reported robbery. Authorities believed the package contained money linked to the incident.
Despite the large sums involved, the court found there was insufficient evidence to establish that the funds originated from criminal activity, leading to the acquittals on the money laundering counts.
When determining the sentence, the court took into account several mitigating factors, including the fact that the woman had declared the money to authorities and that she is the mother of two young children.
The case has drawn attention because of the extraordinary amount of cash moved into Cyprus in a relatively short period, raising questions about the movement of large sums of money through the island, even though the court ultimately found no proof that the funds were tied to criminal conduct.
