( I don't get it!!! In the "Occupied" areas yes but in the "Free" areas...Why oh why oh why!)
By George Psyllides
Published on August 7, 2010
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THE OWNER of a property developers KM Famagusta Developers, which is under investigation for alleged fraud had been arrested in January and admitted to some of the charges he faced, police said yesterday.
Kypros Kyprianou was “arrested, charged in writing and released,” police spokeswoman Lefki Solomontos said. She added that he admitted some of the charges brought against him.
Yesterday Kyprianou’s name was placed on the ‘stop list’ of people not allowed to leave the island. Crossing points to the north have also been alerted, police said.
Kyprianou spent most of the nineties in prison for similar offences. In 1980 he had set up Kyprianou Estates, and was reported to police for selling the same property twice.
He fled the island before the police investigation was complete but was arrested in Germany and extradited to Cyprus where he was jailed. He was released in 2000, set up business again and kept a low profile behind Famagusta Developers.
The current cases mainly concern allegations of forgery, obtaining money and property under false pretences and usurping property belonging to another person.
Police said four of the cases are on the 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.
Solomontos said the force had issued a statement at the time of the arrest in January but did not name the suspect in line with the law.
Following the publication of the company’s name on Thursday, police have received a flurry of calls from people who had dealings with the company or planned to do so.
Kyprianou himself yesterday called a morning show on state radio, reassuring his customers that they would not have any problems because the company has sufficient financial strength -- “maybe not cash but it has enormous property.”
Kyprianou avoided answering any questions regarding the essence of the charges he faces.
“I will not talk about the cases. No one can try and condemn anyone before they are tried (by a court),” Kyprianou said. “We cannot have a court on the radio. Everything will be presented before the law.”
He said no buyers would lose any money.
“Anyone who feels they have been treated unfairly can come and make arrangements with us,” Kyprianou said.
Famagusta Developers has been operating without a licence since May 2009, when it was struck from the Contractor Registration and Oversight Council (CROC) registry.
The company was first listed in April 2005, but was struck off in February 2006 because its technical directors (civil engineers) left and they were not replaced.
It was reinstated in July 2007 until May 2009.
“For us the company is illegal. It undertakes projects illegally … and three work suspension orders had been issued,” CROC chairman Andreas Constantinides said.
The orders were violated by the company and a case was filed in court to be heard on September 21.