Cyprus Mail

Former co-op employee jailed for seven years for embezzling almost €700,000

Nicosia central prisons

A former co-op employee was sentenced to seven years in jail on Friday by the Nicosia criminal court after she was found guilty on 257 charges related to the embezzlement of almost €700,000 from the bank’s Kaimakli branch.

The 51-year-old woman admitted to charges related to forgery, circulation of fake documents and registration of false accounts for fraudulent purposes.

She was found guilty of embezzling €675,041 between 2008 and 2016.

The woman was arrested in 2017 following a complaint from a client of the co-op concerning suspicious movement of the accounts the defendant was overseeing.

The co-op paid back the stolen funds to the affected clients, but the woman did not return to the money she stole from the bank.

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