Former executive remanded in Limassol over alleged €610,215 embezzlement

On June 14, 2026, the Limassol District Court ordered an eight-day remand for a 39-year-old former company executive. The suspect faces charges of theft, obtaining money under false pretenses, and money laundering for alleged activities occurring between 2023 and 2026. A company director filed a formal complaint after an internal audit revealed the misappropriation of €610,215. According to the investigation, the suspect transferred company funds to personal accounts, made unauthorized cash withdrawals, and charged personal expenses to the firm. He is also accused of issuing, collecting, and then canceling invoices, as well as signing customs documents for a forklift after being dismissed. During the investigation, the suspect claimed the missing money was used for company expenses. Limassol CID continues to examine the case, while the suspect remains in police custody.