A 61-year-old man has been arrested on suspicion of embezzling about €235,000 from Patichio municipal theatre in Limassol, police said on Monday.
Reports said the suspected embezzlement concerned the theatre’s former director.
He was arrested following an audit report which showed a deficit of €234,550.
The theft, which was reported by Limassol mayor and chairman of the theatre’s board Nicos Nicolaides, appears to have taken place between 2017 and 2020.
The suspect gave a statement at a police station and is expected to appear in court on Tuesday.
He initially verbally denied any involvement, reports said.
According to the Cyprus News Agency, the director had resigned from his post at the theatre several months prior after the discovery of a deficit of about €10,000.
The process to hire a new director has been underway since the summer.