Cyprus Mail

Remand for suspects in embezzlement case

Costas Petrides

Six people were remanded for eight days on Wednesday in connection with embezzling €350,000 from two companies former Agriculture Minister Costas Petrides had a 50 per cent stake in.
Paphos district court issued the order after the suspects three men aged 61, 33 and 60 as well as three women aged 52, 44 and 24, were arrested on Monday in connection with fraud, theft from an employee, theft from a company director, forgery and conspiracy to commit a crime.
According to police, Petrides reported between February 2008 and December 2012, €351,931 was embezzled from DKS Super carwash and Durashine service station companies, of which he owns half the shares.
The money was used to buy a third company where his signature was forged on the agreement. DKS Super carwash and Durashine have shares in the company.
Consequentially, the first two companies took out a €1,150,000 loan.
The suspects live in Paphos and Limassol and are believed to be in his close circle.
Lead investigator Kokos Kleanthous from Paphos police told the court the businessman reported DKS company issued cheques under the names of the three female suspects and to a woman being treated at the Bank of Cyprus oncology centre.
Cheques from Durashine were issued in the name the 24-year-old suspect.
Although the money concerned paying salaries, the four suspects and the ill patient never worked at the companies.
Judge Costas Constantinou outlined the seriousness of the charges, granting the request giving more time to police to conduct a thorough investigation.

Related Posts

Eight weeks paid parental leave to be paid for all parents

Gina Agapiou

Stavros Michail appointed to head HIO

Nick Theodoulou

ECB to discuss quantitative tightening in Limassol

Kyriacos Nicolaou

Learning about life from romance

Paul Lambis

Decision expected within the day about fifth Covid jab

Jonathan Shkurko

Technology upgrades will put an end to football violence, says Koa head

Iole Damaskinos


Comments are closed.