Greek Cypriot man suspected of printing fake money

A 43-year-old man from Paphos south Cyprus was arrested on suspicion of printing counterfeit money.

According to Greek Cypriot police, the man was arrested on Friday last week after police in Nicosia had been informed that he was “involved in the circulation of counterfeit banknotes” and had also “extorted a sum of money from two individuals” – a figure which amounts to some €70,000.

The man was then tracked down and stopped.

A search of the suspect’s vehicle yielded several pieces of evidence, including bundles of green cardboard cut to banknote size and wrapped in transparent film, additional bundles of green and black cardboard in banknote dimensions, several bottles suspected to contain iodine, and bottles containing a black liquid substance. 

A safe was also found in the vehicle. A subsequent search of the suspect’s residence did not reveal any incriminating evidence.

The 43-year-old was arrested on a court warrant and appeared before Paphos District Court this morning, where he was remanded in custody for three days to facilitate police investigations.

Police say a second suspect, a Paphos resident, is also wanted in connection with the case. The arrested suspect has reportedly named this individual, claiming the car and items found inside belong to the wanted person.

The police’s investigation into the matter is ongoing.