Cyprus Supreme Court allows businessman Savvas Kakos to challenge arrest warrant

The Supreme Court of Cyprus has allowed 62-year-old Larnaca businessman Savvas Kakos to formally challenge his arrest warrant. The decision was issued on Thursday: the court found that the businessman had an “arguable case” — the warrant may have been issued beyond the police’s powers, and the conditions required for its issuance may not have been met.

The warrant was issued during an investigation into 11 complaints against Kakos. They concern alleged fraud, forgery, false statements and money laundering; the incidents mainly date from 2022–2024 and are linked to real estate transactions involving companies in his business group. The businessman was detained on 28 July and released after four days in custody; the investigation is continuing.

The court identified two defects in the issuance of the warrant. When applying for it, the lower court was not presented with all the relevant information. In addition, the most recent complaint was not separated from the overall body of cases in a way that would, by itself, justify the detention: the warrant covered all the incidents under investigation.

The police insisted that the arrest was necessary, as otherwise Kakos might have influenced witnesses or destroyed documents. His lawyers, Antonis Demetriou and Chara Alexandrou, argued that their client had known about the allegations for a long time and, had he intended to do so, would already have had the opportunity to interfere. In addition, the police had already obtained a warrant to search the offices where the documents were allegedly kept, meaning they could have been seized without detaining him.

Kakos may now file a formal application to have the warrant cancelled. The Legal Service will decide whether to object: if an objection is filed, the Supreme Court will hear both sides; if not, the warrant is expected to be annulled. The defence is separately seeking the cancellation of the warrant to search the offices.