He convinced him to create a company and he pocketed 175 thousand euros - A 37-year-old man was arrested

The Police are investigating a case of fraud

xrimata 38 fraud, Police

A case of fraud and embezzlement of a sum of 175,060 euros is being investigated by the Police, specifically the TAE of Nicosia. A 37-year-old man was arrested for the case, who was taken into custody pursuant to a court order.

The case was reported to the TAE of Nicosia on April 15, 2024, by a 58-year-old man. According to the complaint, the 37-year-old suspect allegedly convinced the complainant to work together to create a company to import and trade technology products from abroad. According to the complaint, after the suspect undertook the processing of orders and imports of the products, during the period between November, 2022 and February, 2024, under various false representations, he allegedly extorted from the 58-year-old complainant various sums of money, amounting in total at 175,060 euros.

A judicial arrest warrant was issued against the 37-year-old, under which he was arrested by members of the Police, last Wednesday, May 22. He was brought before the Nicosia District Court on the same day, which, at the request of the Police, issued an order for his detention for eight days, for the purpose of investigating the case.

The case is being investigated by the Economic Crime Investigation Unit of the TAE Nicosia.