A 43-year-old man was arrested on Saturday on suspicion of possessing, circulating and creating counterfeit money.
According to the police report, Nicosia CID received a complaint in early April about a man using two counterfeit €500 bills to purchase goods.
After examinations it was confirmed the bills were counterfeit.
Further evidence led police to a 43-year-old man, who was located at Larnaca airport attempting to flee the country with his 16-year-old son.
The suspect had €12,380 in his possession while €2,000 and 1,415 Turkish lira were found in the possession of the 16-year-old.
The man was arrested with a court warrant and was taken into custody, while his son was arrested for the illegal possession of property and then released.
A preliminary inspection revealed that 14 of the €500 banknotes in the suspect’s possession are counterfeit.
The case is being investigated by the Nicosia CID.