Cyprus Mail
Crime

Suspect wanted in Germany for €10m tax evasion flees

Larnaca airport

A 45-year-old Chinese man arrested in Cyprus last year on a European arrest warrant issued in Germany in connection with tax evasion has apparently fled after he was released on bail, reports said.

Police last Friday issued an arrest warrant for businessman Xinhui Liao after he failed to meet the terms of his release, daily Phileleftheros said.

He was arrested in November last year at Larnaca airport shortly after his arrival from Moscow. The suspect is wanted by Germany in connection with tax evasion relating to €10m worth of revenues.

Police brought Liao before court to start the extradition procedure but his lawyers raised pretrial questions regarding the validity of the arrest warrant.

The man was released pending the responses of the EU Court to the questions raised by the defence, affording him the opportunity to flee.

The businessman and a partner, are suspected of committing tax evasion in 19 cases some three years ago while selling electronic equipment online that fetched them some €10m.