Authorities are investigating a network of around 80 individuals, with three arrest warrants issued and two suspects already in custody as of Wednesday.

The Nicosia district court on Tuesday approved an eight-day remand for two people who had been arrested on the same day, a 62-year-old man and a 43-year-old woman, police confirmed to the Cyprus Mail.

The case has been undertaken by CID headquarters and the suspects are being investigated for serious crimes of conspiracy to commit a felony and possession of equipment for forgery of official Cyprus Republic seals, the police press office said.

The police confirmed that the matter involves an organised criminal group and that all suspects are residents of Cyprus, declining to comment further so as to safeguard the integrity of the investigation.
According to local media a third suspect, a resident of Limassol, for whom a warrant was also secured on Tuesday, remains at large.

The criminal’s modus operandi came to the notice of the authorities after a house foreclosure and may include the dissemination of false information that could undermine public order or trust in the state, impersonation, and other offences, according to Phileleftheros which broke the story.

The individuals under investigation reportedly profess allegiance to the United States, refusing to comply with their obligations as citizens of the Republic, including towards loan payments and fines.

Members of the group had cases pending before loan management companies and had sent documents bearing unauthorised official US seals and military insignia, such as the “Department of Navy”, along with initials and thumbprints, according to the daily.

The bizarre case appears to involve a hierarchical group which attempts to achieve its ends through impersonation and intimidation with links to others overseas.

Cyprus Mail contacted the US embassy which was not immediately available for comment.