The Court of Appeal, by unanimous decision, has just ruled to release on conditions a 43-year-old man who faces multiple charges related to the well-known case of money laundering from illegal activities.
After being referred for trial before the Larnaca Criminal Court, a request for his detention was approved on the basis of a flight risk.
His defence lawyers challenged this decision by raising eight grounds of appeal, with the appellate court deciding just now to release him on conditions.
Under these conditions, the 43-year-old will deposit a sum of €30,000 in cash, surrender his travel documents to the Police, have his name included in the list of persons whose exit from the Republic is prohibited, and report to a police station three times a week.
As is known, the case arose following a complaint by a 31-year-old woman that she had been robbed, specifically that her bag containing €420,000 in cash was stolen in Limassol, a few hours after her arrival in Cyprus via Larnaca airport.
The 31-year-old was later arrested as it was found that she had been visiting Cyprus frequently for an extended period and declaring unusually large amounts of cash. In a statement she gave to police investigators, she implicated the 43-year-old in the case.
Representing the 43-year-old are lawyers Antonis Demetriou, Marinos Kaoullas, and Andreas Demetriou (Demetriou & Demetriou LLC).
