Larnaca court denies release to businessman in fraud case

On August 6, 2026, the Larnaca Permanent Criminal Court rejected a third application for the conditional release of a 44-year-old local businessman. The defendant is facing serious charges alongside a 42-year-old businessman from Nicosia, a 49-year-old remand prisoner, and a 45-year-old woman, all accused of extracting tens of thousands of euros from an elderly individual.

The charges against the group include money laundering, participation in a criminal organization, conspiracy to commit a felony, extortion, threats of violence, and unlawful deprivation of liberty. Previous attempts to secure the defendant’s release were denied by the Larnaca District Court and subsequently upheld by the Court of Appeal. The 44-year-old suspect is also separately implicated in a case involving alleged witness tampering related to a shooting incident in central Larnaca on January 17.

The trial proceedings are scheduled to continue on September 18, 2026, when all four defendants will be required to enter pleas regarding the charges against them. While the 45-year-old woman and the 42-year-old businessman have been released under strict conditions, the 44-year-old and the 49-year-old remain in custody pending the court's final decision.