The case file concerning alleged money laundering in a gallery in Limassol was forwarded to the Legal Service today, while the two suspects were released pending the completion of investigations.
According to police sources, the Limassol CID is awaiting instructions from the Legal Service, which will review the case file and the investigative work conducted so far.
The two suspects, aged 41 and 34, who had been arrested and held in custody since 14th March, were released yesterday pending the completion of investigations.
According to the same sources, extensive investigative work remains regarding their claims about the origin of the money.
It is recalled that the Police had placed the specific gallery under surveillance following information that it was operating as a “front” for laundering dirty money and that the 41-year-old Russian co-owner was illicitly exchanging money for euros or other currencies with fellow nationals and other foreign investors, in exchange for a commission.
Members of the Limassol Rapid Response Unit stopped the 34-year-old, the second suspect, for inspection after he was seen leaving the gallery.
Upon searching him, they found 17 envelopes containing a total of €161,425.
A subsequent search of the gallery led to the discovery of €706,300, 22,539 US dollars, 1,375 pounds sterling, two currency counting machines, and empty paper envelopes.
The 41-year-old claims that the money transfer related to his business activities in 20 restaurants where he is a co-owner and that the money in the gallery, where he co-owns with his wife, is an advance payment for a property purchase in the Germasogeia area.
Furthermore, the 34-year-old claimed that he transported envelopes of money on behalf of the 41-year-old, in exchange for a commission, and that he handed them over after the recipient gave him a specific code.
However, in a subsequent statement, he retracted his initial claim of working on behalf of the first suspect, stating they are close friends and he received financial assistance for his services.
He also mentioned that he delivered the envelopes to individuals originating from Ukraine and Russia, at a bar owned by the 41-year-old, a parking area in touristy Germasogeia, and a supermarket parking lot.
The Police have requested assistance from the Unit for Combating Money Laundering Crimes (MOKAS) to investigate a potential connection between the two suspects and illegal activities.
