Man charged with 10 counts of fraud in share scam

TEN CHARGES were yesterday filed against a man suspected of involvement in a massive share scam earlier this year.

Larnaca district court charged Christos Vassos Hartoumbalos, 32, with circulating counterfeit cheques and forging bank cheques to obtain a total of £143,000, impersonating another man and knowingly receiving the £143,000 by illegal means.

The court renewed his remand for a further eight days.

Hartoumbalos is accused of being the man who impersonated Dherynia investor George Alexandrou, persuading a Nicosia brokerage to sell Alexandrou’s shares and give him the cash.

The money was obtained from the sale of 30,000 of Alexandrou’s Bank of Cyprus and Louis shares, with the scam coming to light when the brokerage firm sent Alexandrou written confirmation of the transactions.

Larnaca club owner Antonis Fanieros had initially also been arrested in connection with the case, but was on Sunday released for lack of evidence.

One other man is being held in police custody in connection with the case, while police are understood to be keen to interview an unnamed suspect who remains at large.

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