Second man held over bank embezzlement

A MAN employed at a Nicosia betting shop was remanded in custody yesterday in connection with the £1.3 million embezzlement from a Popular Bank branch.

Yiannakis Martoudis, 35, was arrested by police yesterday and later remanded for four days by a Nicosia district court.

Police want to question him in connection with the bank scam in which branch manager Haralambos Kokkinos has allegedly admitted to accessing customer accounts and redirecting them to a third account.

This third account fuelled Kokkinos’ gambling addiction, a court heard last Friday when the Strovolos bank manager was remanded for eight days.

Kokkinos, also 35, apparently told police he blew the money on the horses and dog racing.

Police believe that the bank account into which the money was syphoned was created in Martoudis’ name; they suspect he had full knowledge of what was going on.

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