Police in Limassol were on Thursday intensifying investigations into a series of arson attacks that gutted four vehicles valued at over €1.5 million, among them a Lamborghini, in an incident possibly tied to the murder of businessman Stavros Demosthenous last month.

CCTV recorded the arsonist’s movements as he entered a fenced parking area in Mouttagiaka shortly before midnight, dousing the vehicles in what is assumed to be petrol.

The footage shows the perpetrator, dressed in black and wearing a hood, moving between the parked cars moments before a private security guard spots him. The guard appears to call out to the suspect, who attempts to flee.

Seconds later, the vehicles are engulfed in flames, and the guard attempts to pursue the suspect on foot.

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The fire brigade and police force were notified at 11.46pm, with all five vehicles destroyed by the blaze.

The owners include a foreign businessman said to be a close associate of murdered 49-year-old Demosthenous.

Authorities are examining all possible motives, including whether the arson was intended as a warning.

No hard evidence has yet emerged linking the incident to the October 17 murder of Demosthenous.

A separate fire at 3.25am damaged a car belonging to a 20-year-old in another area of Limassol, causing minor damage to a nearby vehicle.

Police have not yet determined whether the two cases are connected, and investigations are ongoing.

Later in the day, assistant chief of Limassol police and head of the CID Lefteris Kyriacou confirmed the four cars at the first site belong to a 40-year-old Limassol businessman.

Asked by journalists if the incident might be connected to Demosthenous’ murder, Kyriacou said only that “all possibilities are being looked at, however at this time there is no testimony linking the two cases”.

He added: “As to the rest, regarding associations and some other business activities, this is all under investigation.”

The CID officer said the four cars were completely destroyed by the flames.

Police gathered a number of items of evidence from the scene.

Asked by media whether the vehicles were insured, Kyriacou said police would clear this up with the owner when they interview him.

Six persons are currently in police custody in connection with the gunning down of Demosthenous last month.

These are two 28-year-olds arrested in Greece under a European arrest warrant and since extradited to Cyprus; a 51-year-old whose DNA was found in a stolen vehicle linked to the case; a 31-year-old who allegedly acquired fake licence plates for the same vehicle; and two 30-year-olds.

One of the two 30-year-olds is a convict suspected of having ordered the hit from within the central prisons. The other is alleged to have purchased and sold the motorcycle used in the perpetrators’ escape.

Four of the suspects have already been charged and will face trial before Limassol district court on January 29. The other two – the 28-year-olds – have yet to be indicted.

Police investigations have so far revealed that the bullets that killed Demosthenous were likely fired from a van that was driving right in front of the car that he and his son were in.

The van was later found to have been torched, while a motorcycle, also believed to have been used in the killing, was found abandoned in the Limassol area.