A fourth person was arrested on Thursday in connection with a case involving obtaining of money under false pretences.
Police placed under arrest a 38-year-old man from Paphos in connection with the sale of fake antiquities.
The three other suspects had been arrested on October 9, following a complaint filed by the buyer.
The suspects could also face charges of conspiracy to commit a crime and money laundering.
The buyer had reported to the police one of the initial suspects, a 44-year-old man, on October 2.
He told police that last July the suspect sold him 11 clay vases for €59,800. He was told they were ancient Greek vases, dating from between 300BC and 400BC.
But when the buyer took some of them to an expert to verify their age, he was told they were no older than 100 years.
The vases were also examined by the antiquities department that ruled they were replicas.