South Cyprus police hunt for suspect who scammed exchanger of $40,000 in Limassol

Police in south Cyprus are hunting for a suspect who allegedly swindled a Western Union branch in Germasogeia, Limassol out of $40,000 in an elaborate currency exchange scam.

The suspect, described as approximately 60 years old and believed to be of Russian or Ukrainian origin, had built trust with the 54-year-old business owner previously visited the store to exchange smaller sums of money.

According to police, the man arrived at the exchange office on Wednesday afternoon following a telephone appointment, proposing to exchange $40,000 for euros. After counting the money in front of the owner, the suspect placed the banknotes in two envelopes, which he then put into a small bag on the store counter.

The suspect then left the premises, claiming he would return shortly with €36,280 to complete the transaction but never returned. 

When the owner checked the bag, he discovered only two envelopes containing a total of $409 in $1 and $5 bills, leading him to believe the suspect had swapped the envelopes.

Authorities have collected the bag, envelopes, and remaining currency as evidence for forensic examination as they continue their investigation.