Cyprus Mail
Cyprus

Second suspect arrested in TEPAK case

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By Angelos Anastasiou
A 51-year-old contractor was remanded for four days on Monday in connection with the Cyprus University of Technology (TEPAK) investigation.
The man, two of whose companies had undertaken the work on two university buildings, ‘Symeon’ and ‘Kalypso’, had been arrested on Sunday on arrival at Paphos airport.
The second person to be arrested over suspected irregularities at TEPAK, he faces being charged with conspiracy to commit a crime, forgery, circulating forged documents, bribing a civil servant, abuse of power and obtaining unlawful income from illegal activities.
According to state radio, three forged letters of credit were found in his company’s file at TEPAK’s archives by the Audit Service.
Further investigation indicated that of four letters of credit presented by the contractor to TEPAK officials from 2009 to 2013, only the first was authentic.
This was revealed when TEPAK tried to cash the latest letter of credit in December 2013, at which point it was told by the issuing bank that the 2009 letter of credit was the only one it had issued.
The lead investigator told the court that the Audit Service’s probe into the case is ongoing, and the police have obtained eight statements, with 24 pending.
Police also plan to investigate further in order to locate the original letters of credit, and has requested the lifting of secrecy on the 51-year-old’s bank records.
The court ruled that available testimony creates reasonable suspicion for the commitment of the offences, as well as the risk of destroying evidence or influencing witnesses, and granted the police request for a four-day remand.
On Friday the head of TEPAK’s property management service was arrested in connection with the alleged forgery of letters of credit to architects.
He was arrested following a marathon meeting of the TEPAK board where it was decided that he would be suspended from his post.
Police arrested the suspect following a complaint filed by the board and a report by Auditor-general Odysseas Michaelides.

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