Cyprus Mail
Cyprus

17th remanded in Ayia Fyla loan scam

LIMASSOL district court remanded a 70-year-old man for five days on Friday in connection a €12mln loan scam at the Ayia Fyla Co-operative bank.

Fully cooperating with police, he told officers he was acting on behalf of one of the 16 suspects currently serving a remand order, approaching people with financial problems and convincing them to sign as guarantors for the loans of the first suspect, a businessman.

The 70-year-old, too, faces serious financial problems and is involved in four of the 11 loans investigated. He is a principal debtor in one of them.

He is the same person who is expected to testify for the prosecution in a prior case also involving dodgy loans at the same cooperative.

One more arrest warrant is pending from a total of 19 that were issued earlier this week.

 

Related Posts

President pays tribute to all those who have died fighting for freedom

Kyriacos Nicolaou

Yellow weather warning as temperature to hit 40C on Sunday

Kyriacos Nicolaou

Prison guards extend strike measures, will block road on Monday

Kyriacos Nicolaou

Cyprus must adhere to financial reforms to keep arms embargo lifted

Kyriacos Nicolaou

Defence minister says Cyprus will continue to strengthen defensive capability

Kyriacos Nicolaou

Anastasiades says will not be drawn in by Turkish threats (photos, video)

Kyriacos Nicolaou

3 comments

Comments are closed.