Two charged with money laundering deny all charges

The two men arrested on suspicion of money laundering in Limassol last week denied all charges in their second court hearing on Friday.

The pair, aged 41 and 34 years old respectively, were both handed renewed five-day remands, with the police’s investigation into the matter ongoing.

The 41-year-old suspect, accused of having set up the “gallery” which was allegedly being used as a front for money laundering, was not present in court as he is being treated in a private hospital in Limassol.

His lawyer requested that proceedings be held behind closed doors, as his client had expressed concern that the case has become widely documented, and that therefore his children’s safety may be at risk as names have been made public in some channels.

However, the court denied his request.

Also in court, the suspect’s wife testified that her husband has an office in the gallery and that he works there every day. She said he was aware of the safes which were located there, but that he did not have access to them.

She added that he would not have been aware of the transfer of envelopes full of cash and described the second suspect as a family friend. She said she does not know whether he works for her husband.

When he testified, the 34-year-old said he received a fee from the other suspect and knew him well. He also admitted to having received envelopes from the other suspect and having delivered them to a hotel car park in Yermasoyia, to a supermarket, and to bars owned by Russian and Ukrainian nationals.

However, he insisted that the envelopes were related to the payment of salaries and equipment for the restaurants the other suspect jointly owned, as well as payments to a person from whom he intended to buy a restaurant.

The police investigator present in court said investigations are at an “advanced stage”.

Police arrested the pair after placing the gallery under surveillance last week. They arrested the 34-year-old after he left the building, finding a total of 17 envelopes full of cash inside a bag he was carrying.

The amount of cash on his person amounted to €161,425.

The 41-year-old was arrested later as he was the property’s owner.