Real estate developer Savvas Kakos arrested in Cyprus over fraud allegations

On July 28, 2026, authorities arrested prominent real estate developer Savvas Kakos in Cyprus. The 62-year-old former president of the Anorthosis football club is expected to appear before the Larnaca District Court today, where police will request an eight-day detention order to facilitate ongoing investigations.

The investigation involves 11 separate cases in which multiple complainants allege they were defrauded by the businessman. These accusations stem from long-term complaints regarding real estate projects that were never realized. It is alleged that Kakos made false representations through the Land Registry Office to secure funds for these developments.

Police have been investigating these grievances for several years. The judicial proceedings currently underway will determine if there are sufficient grounds to hold the suspect in custody while the investigation into these serious felony charges continues.