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Developer to sue over fraud reports

A developer under investigation in connection with alleged fraud, has filed a libel suit against Cyprus’ biggest newspaper for over 2 million Euros, it emerged yesterday.

K & M FAMAGUSTA Developers Ltd and its director Kypros Kyprianou filed a suit on Thursday against Phileleftheros demanding over €2 million for “written slander and or libel and or damaging lies” for one particular report entitled “Famagusta in Court.”

Famagusta Developers said it reserved its rights to file similar lawsuits against the paper for older reports “while they are determined to take all the necessary measures to safeguard the company’s interests and status.”

In August, police announced the company was under investigation in connection with eight complaints filed against it since 2007 – seven in Famagusta and one in Larnaca.The cases mainly concern alleged forgery, obtaining money and property under false pretences and usurping property belonging to another person.

Police at the time said four of the cases are on their way to court, two are under investigation and two others will not be brought to court on the instructions of the Attorney-general’s office.

Readers' comments

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  • paul ruse says:

    All the paper is doing is reporting the facts. I suspect that this is their way of warning off any other claims by a family.

    The threat of a suit which the ordinary person who buys a property and finds themselves the victim of a corrupt developer / lawyer / estate agent . Does not have the means to fight the case in court. And if you did they would want to string it out as long as possible and wear you out costing you every penny you have in the process.

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