A 25-year-old man has been remanded in custody as police investigate allegations involving more than €500,000. The case concerns suspected theft by an agent, money laundering and violations of betting legislation.
Complaints from 18 people
According to police, 18 people filed complaints against the suspect, claiming they had given him money to invest in cryptocurrencies.
The alleged transactions took place between 15 June 2025 and 1 April 2026. The total amount reportedly obtained from the complainants exceeds €500,000.
Suspect remanded for seven days
The 25-year-old was arrested on the afternoon of 3 September under a court warrant.
He appeared before a court on Friday, which ordered that he remain in custody for seven days.
The Nicosia Criminal Investigation Department’s Financial Crime Investigation Unit is continuing its inquiries.
