Cyprus Mail

Man arrested for euro note exchange scam

The ECB is working on creating an electronic form of cash to complement banknotes and coins in a bid to stem competition from cryptocurrencies

Limassol police have arrested a 30-year-old man on suspicion of stealing cash from a betting shop.

Police said an unknown man had gone into the betting shop in Limassol on Thursday and asked the employee to change €10 bills with larger ones, giving her €700.

As soon as he got the larger bills, the man supposedly changed his mind and returned the cash to the employee for his smaller bills.

The man left the premises but when the employee counted the cash, she realised they were €300 short.

On Friday, the same person visited a second betting shop in Limassol and attempted the same trick. He was however identified by someone in the establishment who notified the police.

He was detained by officers who arrived at the scene immediately and taken to the town’s central police station.

In his possession, officers found €1,260, which was seized as evidence. The man was arrested while the investigation continues.


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