swindle — A 45-year-old man has been arrested for allegedly swindling another man out of over €100,000 in a property investment scheme. The arrest took place in Limassol on Friday, as confirmed by local police.
The saga began earlier this year, between June and November, when the accused and a 50-year-old man agreed to cooperate on the purchase of apartments. The 50-year-old provided €103,000 to his younger counterpart, believing they were entering a legitimate investment opportunity.
However, the situation took a turn when the 45-year-old failed to follow through with the necessary procedures for the property acquisition. After repeated attempts to get his money back, the 50-year-old became increasingly frustrated as the other man made various excuses to delay the refund.
Since September, the 50-year-old has not been able to reach the 45-year-old, who has only returned a small fraction of the funds, amounting to €4,860. The police were alerted to the situation, prompting an investigation into the matter.
The ongoing investigation aims to uncover the full extent of the alleged swindle and whether other victims may be involved. Authorities are urging anyone with similar experiences to come forward and assist in the inquiry.
