A 62-year-old man has been jailed for seven years after being found guilty of fraud after promising individuals to build houses that were never built.
The sentencing took place on Monday after the man was found guilty of taking substantial amounts of money under false pretences.
The case began when one of the victims filed a complaint with the police, leading to the man’s arrest. According to the complaint, the accused had posed as the owner of a construction company and convinced the victim to hand over €128,500 in September last year. The money was intended for the construction of five houses on a plot of land in the Famagusta district. However, despite receiving the payment, the man failed to deliver on his promises. No progress was ever made on the supposed construction project, and the houses remained unbuilt.
The fraud came to light in February when the victim, having seen no signs of development, realized that he had been deceived and alerted authorities. Following a thorough investigation, it was revealed that the accused had never intended to build the promised houses and had misrepresented himself as a credible business owner.
During the court proceedings, the prosecution presented compelling evidence that the man had deliberately taken advantage of his victims’ trust to extract large sums of money. The court emphasized the severity of the crime, highlighting the significant financial and emotional distress caused to the victims. It was noted that such offenses undermine public trust in businesses and institutions, warranting a strict penalty to deter others from engaging in similar fraudulent schemes.
In delivering the sentence, the judge underscored that the accused had demonstrated no remorse for his actions. The seven-year prison term was imposed to reflect the gravity of the offense and to serve as a warning to others considering similar fraudulent activities. The court stressed that financial fraud, particularly in the construction sector, can have far-reaching consequences, not only for individuals but also for the broader community.
The case has drawn attention to the importance of due diligence when engaging in financial transactions, particularly in the real estate and construction industries. Authorities have urged the public to verify the credentials of companies and individuals before making payments or entering into agreements to prevent falling victim to such scams.
The convicted man now faces the consequences of his actions, serving a lengthy sentence for defrauding individuals out of their hard-earned money.
The Government promise to give buyers ownership of their homes that they have paid for, but many are left in limbo. So what is the difference between this individual ‘conning’ the buyers and our Government?
Good development after so many years and so many similar cases. But why on earth is his name being kept secret?! Perhaps it’s an individual already well known for such criminal activity but never before convicted?