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Cyprus Property

Remand in Paphos property scam case

Paphos district court

Paphos district court has remanded a 60-year-old man for three days in connection with a land scam case involving an 87-year-old permanent resident from Britain.

The 60-year old who is an employee at an estate agency, was arrested at Paphos airport on Saturday evening, after he arrived from abroad.

Police are looking into whether the suspect, along with a 47-year old-who was arrested on October 29, conspired to defraud the British man to the tune of half a million euro.

According to police, the 87-year-old permanent resident decided in 2012 to invest in property in the Paphos district. He appears to have reached a number of agreements with the estate agents and paid them €500,000 in total.

The 87-year-old claims that despite paying up, he received title deeds barely worth €35,000 and reported the case to Paphos police.

Police are looking at accusations of conspiracy to commit a felony, conspiracy to commit a misdemeanour, forgery, issuing a forged document, fraud in selling property and obtaining money under false pretences.

Police also arrested two women aged 84 and 79 on October 29 but they were later released after investigators concluded that they had nothing to do with the case.



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Source: Cyprus News Agency


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