Four people were arrested in Limassol on Wednesday as police investigate a complaint that €826,964 were given out in dodgy loans to one individual.
A woman businesswoman and three co-op employees were arrested on suspicion of conspiring to defraud, acquiring money under false pretences, forgery and money laundering.
It follows a complaint submitted by the co-op credit society in 2017 that the businesswoman had secured €826,964 by taking out ten loans in the name of non-existent individuals.
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