NewsLocalMunicipal counselor arrested for 500,000 fraud

Municipal counselor arrested for 500,000 fraud

The Larnaca District Court remanded in custody for seven days a 31-year-old man arrested on Sunday for stealing more than 490,000 euros. According to information, this man is a member of the Odou Community Council, who has a high-level position in the community’s production company “Vasiliki Gi” (Royal Land).

According to the Police, it seems that over the past years the 31-year-old had issued dozens of company cheques in his name and then cashed them. It seems that the cheques were already signed by the president and the accountant of the company without, however, any other information like amount or beneficiary. The suspect had the cheques to make various payments regarding the work of the company.

The theft was found after an audit from 2020 until today.

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