Former Assistant Attorney-General Loukis Loucaides appeared before the Limassol Permanent Assize Court on Monday in connection with the alleged theft of approximately €177,000 in compensation paid for the compulsory acquisition of a deceased woman’s property.
The proceedings were adjourned until October 20.
Loucaides faces two charges, namely theft by an agent and money laundering. The charges followed a complaint by the administrator of the deceased woman’s estate concerning his alleged failure to transfer compensation paid by Limassol Municipality for the compulsory acquisition of her property.
The defendant’s lawyer told the court that his client was not ready to enter a plea and requested more time because an application remains pending before the Attorney-General. According to reports, the application concerns a request for the case to be tried by a District Court.
The Assize Court adjourned proceedings until October 20. The 87-year-old defendant remains free under the condition of a €50,000 personal guarantee.
In previous statements to CNA, Loucaides said the case dated back to around 2008, when the administrator of the estate instructed him to bring legal action against Limassol Municipality over its failure to pay compensation for the compulsory acquisition of the deceased woman’s property, which had been demolished to make way for a road.
After the District Court dismissed the lawsuit, an appeal was filed. Loucaides said the Court of Appeal subsequently instructed Limassol Municipality to explore an out-of-court settlement, with him undertaking negotiations over the amount, which was eventually set at €177,108.12.
According to Loucaides, he collected the money with the intention of handing it over. However, the estate’s administrator later ceased performing his duties and Loucaides said he did not know his whereabouts, resulting in several years passing.
He also claimed that after a new administrator was appointed and he received a letter from a lawyer, he expressed his willingness to repay the money in instalments. He said he was later informed that a complaint had been filed and was called to provide a statement.
Loucaides has rejected any criminal dimension to the case, describing it as an attempt to damage the reputation of people who enjoy a certain degree of public respect.
Source: CNA
