The trial of all court proceedings related to the extradition of seven persons arrested in the Republic of Cyprus, under European arrest warrants, for international fraud with a loot of approximately €700 million was recently completed. According to the Legal Service, the seven persons were arrested on October 27, 2025, in Limassol, and at that time a pan-Cypriot, coordinated joint operation between Cyprus, France and Belgium took place.
The case concerns allegations made in France and Belgium that a group of organized persons, including the seven wanted persons, used applications, to deceive various Internet users into making investments, persuading them to install specific software on their computer, with which access to it could be controlled, and by creating fake accounts on behalf of the victims, they made false investments that yielded false returns. According to the allegations, the money was actually transferred to accounts controlled by this organized group and then laundered through blockchains.
At the hearing, both at first instance and on appeal, the wanted persons raised a number of legal issues in anticipation of the non-execution of the European arrest warrants. The positions of the wanted persons were rejected and the persons were extradited to Belgium and France.
For the handling of European arrest warrants, a team of legal officers was set up, consisting of the Lawyers of the Republic, Ms. Louisa Sigar, Ms. Stalo Papoui, Ms. Nikoleta Papoutsa and Ms. Marina Fotiadou.
