Suspect detained in Limassol over €800,000 embezzlement and money laundering
Cyprus police continue to investigate a major financial crime case in Limassol. By decision of the city's District Court, a 50-year-old man was placed in custody for eight days on suspicion of theft and money laundering of illegally obtained funds.
According to law enforcement authorities, the suspect was located abroad and arrested on the basis of a European arrest warrant. He was brought to Cyprus the day before, where he was formally arrested under a court warrant.
According to the investigation, the man may be involved in the theft of around 800 thousand euros from one of the companies in Limassol. The crimes are believed to have been committed between 2016 and 2019.
The investigation is being conducted by Limassol's Economic Crime Unit. Investigators are examining financial transactions as well as possible schemes to conceal the origin of the funds. It cannot be ruled out that additional suspects may emerge in the case.
The police continue to gather evidence and examine financial documentation related to the suspect's activities.
Author
Born in the city of shipbuilders, Mykolaiv (Ukraine). Currently living in Moscow. Diplomat in reserve. More than 10 years of experience in the Mediterranean region (Greece, Cyprus). Until 2015, First Secretary of the Russian Embassy in Cyprus. Fluent in Greek and English. Completed civil service in…
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