A Cypriot businesswoman failed to convince the Supreme Court to block a search of her home, business premises, and vehicles linked to an international cryptocurrency fraud worth hundreds of millions of dollars.
The background
French authorities uncovered a sophisticated multinational scam involving fake investment platforms, remote-control of victims’ computers, and large-scale money laundering since 2020.
Investigators claim approximately $500,000 from fraudulent platforms landed directly in the woman’s company account, while another $6 million was allegedly channelled through the same account to other suspects.
She denies any involvement.
Her legal challenge
The businesswoman sought a certiorari order to cancel the October 2025 search warrant, arguing:
- The police affidavit was vague and overly broad
- No sufficient link existed between her premises and the items sought
- The lower court issued the warrant in just 15 minutes despite a 50+ page affidavit
- The same court had previously refused a similar request
Supreme Court ruling
The Court ruled that certiorari is not an appeal mechanism and only applies in cases of excess jurisdiction, serious legal error, or breach of natural justice.
It found:
- The French European Investigation Order and supporting material were extremely detailed
- The affidavit was specific, not general
- Speed of decision (15 minutes) does not indicate error — judges are trained to quickly identify key evidence
- New evidence was significantly stronger than the previous rejected application
The Court concluded there was reasonable and specific connection between the premises and the evidence sought (computers, phones, SEED phrases, mining equipment, accounting records, etc.).
The application was rejected in full.
Also read: “Epikentrosis” project unites Greece and Cyprus against natural disasters
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