Paphos police Thursday said they were investigating a number of cases, involving at least two men, where money changed hands for the sale of land to Chinese investors by middlemen who had no connection to the properties.
The scam came to light on Wednesday when a Chinese woman reported to police she had given money to buy land, only to realise later that the land did not belong to the seller.
Police said that from initial investigations it appeared that at least two local men posed as intermediaries for major developers, taking payments from potential Chinese investors.
Preliminary investigations to ascertain the extent of the fraud show the two scammers appear to have appropriated close to €300,000 so far. Police have not ruled out the possible involvement of others.