Second remand over €‎275,000 fraud case (updated)

A second suspect suspected of being involved in a case of fraud and embezzlement of €‎275,000 was remanded into police custody for three days on Tuesday by the Limassol district court.

According to police, late in October a 60-year-old man filed a complaint with Limassol CID that in November and December 2019, two male suspects, aged 44 and 41, had convinced him to give them the sum of €‎275,000 to invest on his behalf in a land purchase –an investment they claimed would bring him a profit of €‎650,000.

For a period of time, the 60-year-old had been asking for information with the two suspects allegedly assuring him that his investment was doing well but that they had encountered some difficulties in completing the transaction.

In a recent meeting, the man was told by the 41-year-old suspect that he had, in fact, been deceived.

Police arrested one man Monday evening, while the second was arrested upon arrival from abroad at Paphos airport on Sunday.

On Monday, the first suspect was remanded for four days.