A 42-year-old suspect arrested in connection with a huge money scam on January 17 in Budapest was extradited to Cyprus on Wednesday.
A case of conspiracy to commit fraud, money laundering and the theft of 92 million US dollars is being investigated.
The above offences are believed to have been committed against a Cypriot company between 2011 and 2012 in Cyprus, Ukraine, Switzerland and the British Virgin Islands.
According to police, the persons involved allegedly cheated the company by inflating charges for shares.
This happened in seven instances and they reportedly made a total of 92 million dollars from the companies in Cyprus and Switzerland.
On October 17 police issued five European arrest warrants in connection with the case.
The 42-year-old was one of the wanted persons.