Seven individuals extradited from Cyprus in 700 million euro fraud case

On October 27, 2025, Cypriot authorities arrested seven individuals in Limassol as part of a coordinated international operation involving Cyprus, France, and Belgium. The suspects were wanted under European arrest warrants for a large-scale fraud scheme estimated at 700 million euros. The group allegedly used malicious software to gain control of victims' computers, allowing them to create fake investment accounts and generate fraudulent returns. Funds were subsequently transferred to accounts controlled by the criminal group and laundered through blockchain technology. Throughout the legal proceedings, the suspects contested their extradition in both primary and appellate courts, raising various legal objections. Their arguments were ultimately dismissed by the courts. Following the completion of these judicial processes, the individuals were successfully extradited to Belgium and France to face criminal charges. The case was handled by a legal team including Louiza Sigar and Stalo Papoui.