Accountant sentenced to eight years in prison for embezzling €3.2 million from company

Accountant sentenced to eight years in prison for embezzling €3.2 million from company

The Limassol Criminal Court sentenced a 54-year-old female accountant to eight years in prison for embezzling more than €3.2 million from the group of companies where she worked. The court found her guilty of large-scale fraud that continued from 2017 to 2020.

During the investigation, it was established that the accused systematically forged documents, appropriated funds through fictitious payments, manipulated accounting data, and destroyed financial records. According to the court, the woman falsified 198 payment orders and appropriated large sums, concealing the origin of the money.

In addition, she hid assets worth around €3.5 million, knowing they were obtained illegally. Property and bank accounts amounting to hundreds of thousands of euros were found in her possession. Some of the assets have already been frozen.

The court also considered the case of her 68-year-old husband, who, according to investigators, participated in the scheme by helping to conceal his wife's criminal activities. He was sentenced to two years in prison, but the sentence was suspended for three years. The court noted that the man acted under his wife's influence and was not the organizer of the crimes.

The charges against the woman included document forgery, misappropriation of funds, money laundering, and violations of accounting law. The prosecution presented 34 witnesses, while the defense presented 12. The case included over 800 charges. The court decision was compiled into a 360-page document.

In sentencing, the court considered the defendants' age, health, lack of prior convictions, and the long delays in starting the trial. Despite this, the crimes were deemed extremely serious and caused significant damage to corporate trust.

This case has become one of the most high-profile financial crime cases in Cyprus in recent years.