Police in Larnaca are investigating a new online fraud case after a 79-year-old resident reported that he was tricked into what he believed were legitimate investments in stocks and cryptocurrencies.
According to investigators, the man responded in January 2026 to an online advertisement and then communicated with individuals who claimed to represent an investment company.
Between January and March, he made 15 transfers from his bank account to foreign accounts, with total losses reaching €254,679.
The scam became clear when he tried to withdraw his supposed profits and was asked to pay additional money for alleged “liquidation fees.” He then realized he had been deceived and filed a complaint.
The Economic Crime Investigation Unit of Larnaca CID is handling the case. Police again stress that promises of “guaranteed returns” and urgent pressure to transfer funds are major fraud warning signs.
