Three people received a 4-year prison sentence yesterday from the Limassol District Court after being found guilty of forging documents and money laundering.
The accused are a 43-year-old military staff and two entrepreneurs of 57 and 64 years of age.
The 43-year-old had acquired a €150,000 loan after his two co-accused had procured him with a forged property valuation.
The actual value for the property stood at €8,500 whereas the falsified valuation reached €280,000.
The accused pled not guilty to the 8 criminal counts facing them and subsequently received a 4-year sentence for the criminal offense of money laundering and 2.5 years for forging documents.
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