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Cyprus

Ukrainian wanted for embezzling $22m arrested in Limassol

A 50-year-old Ukrainian wanted by Interpol Kiev for fraud and the embezzlement of more than $22 million was arrested in Souni, Limassol on Tuesday.

According to police, an arrest warrant for the man was secured following a briefing by Interpol. He allegedly conspired with the director of a Ukrainian company where he worked and with the manager of an insurance company.

The fraud was committed in 2013 and involved the sum of $22,135,000 which was earmarked to finance a project in the agricultural sector by the company.

The suspect was arrested at his house and proceedings for his extradition to the Ukraine for trial have already started.

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