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Turkish Cypriot woman defrauded of 4 million euros in South

2 October 2013

Two businessmen and a lawyer are facing trial at Larnaca Criminal Court accused of the theft of nearly 4 million euro from an 83-year-old Turkish Cypriot woman.

Businessmen Giorgos Kypris and Christos Yeranis, and lawyer Mamas Hadjichristofi face charges of conspiracy to commit a crime, theft, receiving stolen goods, money laundering, and the unauthorised drafting of documents.

The accused allegedly appropriated 3,850,400 euro from the 83-year-old woman. The money is allegedly part of the sum paid to her after she settled with the state on the expropriation of her land in Kato Polemidhia, Limassol, where a refugee estate has been built.

On March 31, 2011, the Central Bank issued the Turkish Cypriot woman with a cheque for almost 7 million euro in compensation for the expropriation of 37 donums of land.

The three men facing criminal charges were involved in the transaction, working on behalf of the 83-year-old as administrators or guarantors.

However, when her son checked, only 2,850,000 euro was left in the bank account where the expropriation money had been deposited.

All three pleaded not guilty yesterday. The trial date has been set for October 22.

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