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Saturday 4th July 2020
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Chinese property scam arrest

Chinese property scam arrestPAPHOS police have announced the arrest of a 43-year-old Greek Cypriot man in connection with on-going investigations in a property scam involving Chinese investors.

Paphos CID Chief, Nikos Tsappis, said that the man was arrested on evidence given by the Chinese and other evidence which suggest that he received €260,000 as a down-payment for a large parcel of land that the group of Chinese were interested in purchasing.

Earlier today a 43 year old man was remanded by the Paphos court for eight days and is facing charges of criminal conspiracy, extorting money under false pretences, and money laundering.

An arrest warrant has also been issued for a second person.

The case came to the attention of the police, when the Chinese woman who had initiated the deal with the suspect realized that he was not the legal owner of the property in question, and who subsequently reported the matter.

Initial investigations conducted by the police show that at least two people from Paphos have initiated deals worth over €300,000 with prospective investors by posing as agents for large property development concerns in Cyprus.

6 COMMENTS

  1. @Nigel, will the govt ever lay down foundations and rules and regulations re property development/sales and standard sales agreements etc?

    Really does need a revamp to say the least, best one will be the no deeds no sale clause…..

  2. It is surprising to hear that the Cyprus police are arresting people who sell land without title deeds as many readers of Cyprus Property News know to their cost this is regarded as standard business practice in Cyprus. If it is now treated as a crime this is to be welcomed but will the Cypriot prisons be large enough to house all the developers, bankers and lawyers who have been engaging in this practice for decades?

  3. After all the high profile press regarding buying property in Cyprus, people still keep trying to buy through the back door. These Chinese people will pay any price to obtain property and then eventually get a Cyprus passport.

    I just wonder if there was a Cypriot solicitor involved in this scam. It would be interesting to find out

  4. Will Cyprus never learn , if they keep ripping people off it does not take long for the world to know with computers, and many will know, learn to do the right thing , if you want this country back on its feet , if not who is 2 blame, Cyprus and the crocks ,,,,,,

  5. They should publish the names of these suspected fraudsters. It is highly likely that others have been duped also.

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