A court on Tuesday granted time to the defense team of a 54-year-old Israeli man who operates Forex trading companies in Limassol to examine evidence before Germany’s request for his extradition is reviewed.
The Israeli businessman who was arrested and released on bail a week ago is amongst suspected online fraudsters allegedly scamming tens of millions of money out of victims in Europe, mainly in Germany.
He will appear before court again on Friday, with his defense lawyers expected to object strongly to his extradition and this will pave the way for trial proceedings to begin, Philenews also reported on Wednesday.
His arrest came after a joint covert operation between Europol, Eurojust and the Police in Cyprus.
The alleged fraudsters are suspected to have carried out a total of 246 offences in 15 federal states of Germany.
They are believed to be behind an online financial services platform which used around 250 accounts on social networks and websites to extract over €15 million from German citizens.