Explosion at the Home of Alleged "Metamax" Ponzi Scheme Leader in Cyprus

An explosion has occurred at the home of a suspect involved in the “Metamax” Ponzi scheme in Cyprus. The explosive device is believed to have detonated in the apartment of the scheme's leader.

According to the police press service, the bomb exploded in a residential building in the Mazotos area at around 2:30 AM on Monday, July 8. However, the homeowners reported the incident to the police only the following evening.

Preliminary reports indicate that the house was recently occupied by a 54-year-old man, who was arrested and is currently in custody on charges related to the "Metamax" Ponzi scheme. The police state that this individual represented himself as the head of the company in Cyprus.

Police officers arrived at the scene, cordoned off the area, and collected various pieces of evidence.

Previously, it was reported that the Cypriot police are seeking victims of the Ponzi scheme. Law enforcement has received two complaints and fifteen reports from victims of "Metamax."