News Local Four arrests as police probe dodgy loans case from Limassol co-op

Four arrests as police probe dodgy loans case from Limassol co-op

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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