The Larnaca Permanent Criminal Court on Thursday (6 August) rejected a request to release a 44-year-old Larnaca businessman under conditions, as he faces charges in an alleged fraud case involving an elderly man.
The businessman is accused alongside a 42-year-old businessman from Nicosia, a 49-year-old remand prisoner and a 45-year-old woman over the alleged extraction of tens of thousands of euros from a pensioner.
Third court decision against release
This is the third court to reject the businessman’s request for release.
The Larnaca District Court had previously rejected a similar application during the process of referring the case for direct trial before the Permanent Criminal Court.
The Court of Appeal later dismissed the 44-year-old’s appeal and upheld the decision ordering his continued detention until the case is heard.
Charges include serious offences
The four defendants are expected to respond on 18 September on whether they admit or deny the charges they face.
The charges include, among others, money laundering, participation in a criminal organisation, conspiracy to commit a felony, extortion, threats of violence and unlawful deprivation of liberty.
The 49-year-old remand prisoner remains in custody and is additionally accused in cases involving alleged abuse of individuals at an illegal casino in Pyla and the shooting incident that took place in central Larnaca on 17 January.
The 42-year-old Nicosia businessman and the 45-year-old woman were previously released under conditions by the Larnaca District Court.
Elderly man reported alleged losses
The defendants were arrested following a complaint by a 77-year-old man, who alleged that he was deprived of large sums of money between 2021 and 2024.
According to the complaint, the case began after the pensioner and his son-in-law sold two properties in Pyla, valued at €3 million, to a company managed by the 42-year-old businessman from Nicosia.
The pensioner later alleged that the 44-year-old Larnaca businessman and the 49-year-old suspect persuaded him to become a partner in a betting agency, resulting in the alleged loss of €49,000.
He further claimed that the 49-year-old and the 45-year-old woman jointly obtained more than €150,000 from him, while the Nicosia businessman allegedly pressured him, with the involvement of the others, to alter the property sale agreement.
The allegations have not been tested in court.
Also read: Larnaca businessman released as probe into 10 offences continues
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