News Local Supreme Court deems businessman guilty for issuing bounced cheques

Supreme Court deems businessman guilty for issuing bounced cheques

Overturning a Nicosia District Court decision, the Supreme Court on Wednesday deemed businessman Christos Orphanides, owner of  the now defunct “Orphanides” supermarkets guilty for issuing bounced cheques worth €190,000.

According to philenews, the Nicosia District Court had ruled that the company that managed the supermarkets was guilty in the case. Orphanides himself could not have been aware that the company did not have sufficient money to pay the beneficiaries, when issuing the cheques, it said.

However, on Wednesday, the Supreme Court overturned the decision, saying that Orphanides should have been aware of his company’s financial situation.

Orphanides is already serving a 42-month prison sentence for issuing bounced cheques worth €6.8 million.

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