The Limassol District Court issued a seven-day detention order against the 45-year-old, former insurance broker, who allegedly extorted over 700 thousand euros through the preparation of fake insurance contracts, mainly from persons from third countries who reside permanently in Cyprus.
The suspect, who reportedly denies guilt, was arrested on Monday, as part of investigations, following a complaint from an insurance company director, in relation to the 45-year-old's actions, between the years 2017 - 2023, in Limassol, Larnaca, Paphos and Nicosia.
Specifically, the 45-year-old allegedly prepared fake insurance policies, mainly for people of Chinese origin, issued fake checks, as well as fake receipts on behalf of the insurance company.
The total amount that the suspect allegedly extorted, from the statements received by police investigators so far, exceeds 700 thousand euros.
The court ordered his detention for a period of seven days, in connection with offenses involving extortion by false pretenses, fraud, forgery, circulation of false documents and money laundering.
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