Cyprus bank fraudsters jailed for using fake documentation to obtain a loan

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Police have arrested two Greek Cypriots and a Romanian who are suspected of cheating a foreign bank of €650,000 by obtaining a loan and presenting fake documentation to secure it. The Nicosia Crown Court heard that the perpetrators had opened a bank account on behalf of a shipping company whose main shareholder and sole beneficiary was the Romanian, who had signed all the contracts. The money was deposited to the company’s account on July 1st, 2016 before the bank found out that the statements had been altered and the beneficiary was the 37-year-old Romainian.