Cyprus Mail

Suspected loan shark demanded €80,000 for €40,000 borrowed

Larnaca court

A 63-year-old suspected loan shark was remanded for two days by the Larnaca district court on Friday for allegedly threatening the life of another man who could not pay back what he had borrowed.

According to police, the Oroklini resident was arrested on Thursday after a complaint was filed by a 47-year-old baker from Larnaca who told police that since last March, he had asked the suspect on three different occasions to lend him money.

The 63-year-old loaned the baker a total of €40,000, for which he asked €80,000 in return by a specific date.

The baker said he then began receiving threats to his life when he was unable to pay the total sum by the deadline, even though he had already paid back €50,000 of the €80,000 being demanded.

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