The two businessmen that were arrested over their alleged involvement in the shooting that took place in Larnaca centre on the previous weekend were released on a €80,000 bail on Tuesday.

The men, aged 47 and 43, appeared before Larnaca district court under draconian security measures, where they pleaded not guilty to charges of interfering with the judicial process and conspiring to commit a misdemeanour.

The 47-year-old suspect, however, continues to face charges relating to what police described as a large sum of cash found in his office last Friday.

Both men were released on bail on the condition that they report to the police twice weekly and refrain from travelling north.

A second hearing in the case has been scheduled for 11 March at 10.30 am.

The two were remanded in custody for four days on Friday, suspected of interfering with the shooting incident that took place near the police station in central Larnaca on January 17.

The police said that the arrests were made in connection with a meeting held on Wednesday between the two businessmen and a complainant in the shooting case, who later provided a statement to the police in which they made a series of allegations.

The 47-year-old was apprehended at his company’s offices, where officers confiscated a substantial amount of cash and numerous bank cheques.

The 43-year-old businessman was arrested at his home later the same day.