Cyprus Mail
Cyprus

Diamond investment scammer arrested

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A Greek national was arrested on Tuesday, following his extradition to Cyprus on a European arrest warrant in connection with the sale of diamonds in a deal worth hundreds of thousands of euros, police said on Wednesday.

“It was reported to police by a 49-year-old, that two persons proposed to him the purchase, jointly, of an amount of diamonds from abroad, at a cost of €750,000,” police said.

“The 49-year-old initially gave them the sum of €445,000, for which the two suspects gave him three diamonds, maintaining they were of equal value.”

Police say the complainant at some point discovered the others had tricked him by presenting false documents of authenticity and value concerning the three diamonds, and the suspects returned €150,000 after he asked for his money back.

“To facilitate investigations into the above case a 52-year-old person was arrested last June. Also, yesterday the second 48-year-old suspect was transported to Cyprus after being arrested in a foreign country, on the basis of a European arrest warrant.”

The Cyprus Mail understands the transaction was presented as an investment opportunity with the diamonds supposedly sourced from Zimbabwe, and that the Greek national, of Pontian origin, was arrested in Romania.

Nicosia CID are investigating the case.

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