POLICE yesterday made public the name of a Cyprus property developer under investigation for several cases of alleged fraud including selling the same property twice.
The force’s deputy spokesperson Lefki Solomontos said the company under investigation is K & M Famagusta Developers, which has had eight complaints filed against it since 2007 – seven in Famagusta and one in Larnaca.
“There were consultations with the Attorney-general today and it was judged necessary to publish the name of the company for the protection of the public,” Solomontos told reporters.
The cases mainly concern alleged forgery, obtaining money and property under false pretences and usurping property belonging to another person.
Solomontos said four of the cases are on their way to court, two are under investigation and two others will not be brought go to court on the instructions of the Attorney-general’s office.
In one of the cases, the developer allegedly sold the same flat twice and when he was asked to return the money to one of the buyers he issued him a dud cheque twice.
But the buyer could have found out early on – before he was left with a €120,000 in debt – if the Larnaca land registry office did not make a mistake and allow the submission of both sales agreements.
Chairman of the Cyprus Land and Building Developers Association (CLBDA) Lakis Tofarides said yesterday such a thing was very rare.