Two police officers, businessman arrested in CyTA land deal

Two police officers and a businessman were arrested on Monday in connection with a multimillion euro Larnaca real estate deal involving state telecoms company (CyTA).

The two officers, aged 40 and 53-years-old, have already been suspended.

They are suspected of drafting a false report that enabled the sale of the land, which belonged to a Turkish Cypriot.

The land in Dromolaxia was sold to a Greek Cypriot businessman who allegedly changed its terms of use, upgraded the coefficients, built on it and sold it on to the CyTA pension fund, at over ten times the price he bought it from the original owner.

The businessman, 43, was also arrested on Monday, suspected of bribing the two officers to draft a favourable report

The two officers allegedly produced a report saying the Turkish Cypriot seller had resided in the government-controlled areas for six months – a necessary condition — prior to selling the land.

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