A 25-year-old suspect has been remanded for eight days for the disappearance of Angelos Pericleous, 31, the Limassol district court decided on Monday.
According to the police, Pericleous was reported missing on Thursday, after his torched car containing clothes and a shovel was found in Paliometocho, Nicosia.
Speaking on CyBC radio, police spokesman Christos Andreou, said the suspect is choosing silence and is not cooperating with the authorities.
The case is an extremely serious one and investigations are in the early stages, Andreou said.
Late Sunday afternoon, the wanted man presented himself at Limassol CID, accompanied by his lawyer.
The suspect is being investigated for kidnapping, intent to commit premeditated murder, and car arson.
Pericleous was reported missing on Thursday and his car was subsequently found burned, containing clothes and a shovel. The last person he is believed to have been in contact with is the 25-year-old man. They are believed to have driven off together somewhere.
Nonetheless Pericleous’ phone stopped emitting a phone signal near the Skarinou area – though his home is in Amathounda, Limassol.
Pericleous is described as slim, 1.60m tall, with a beard and short black hair. He has a tattoo from his shoulder to elbow on his right arm, and another tattoo on the wrist of his left hand.
He was last seen wearing a short black t-shirt, black trousers, and black trainers.
According to a report in daily Politis, the 25-year-old suspect and Pericleous appear to have been friends and worked together on other projects.
The 25-year-old had previously been in trouble with authorities, when a Russian permanent resident had reported him to police over a Bitcoin scam.
According to the report at the time, the suspect was arrested for this incident around a month ago, after he presented himself to the police to report that he had been beaten and mugged.
He had then told police that during a meeting in the village of a Mazotos on March 14 with the 31-year-old (Pericleous), the latter robbed him, stealing €100,000, a Rolex watch, and three mobile phones, which had the Bitcoin that belonged to the Russian that had previously reported this to police.
Politis reported that according to their information the 25-year-old kept changing his testimony in the following days, claiming that he had made amends with Pericleous.