Entrepreneur arrested in Larnaca over alleged €12 million fraud
A 62-year-old businessman has been remanded in custody for four days as part of an investigation into a series of cases involving fraud, document forgery and obtaining money by deception.
The Larnaca District Court ordered the four-day detention of the 62-year-old entrepreneur, who was arrested in connection with 11 alleged offences.
According to police, the investigation concerns cases of fraud, conspiracy to commit a crime, document forgery, using forged documents and other related offences.
The alleged offences were committed between 2022 and 2024 in the Larnaca district. The total amount of funds allegedly obtained by deception is estimated at around €12 million.
The investigation is being conducted by the Larnaca Crime Investigation Department.
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