By Andria Kades
Three men aged 26, 33 and 34, were remanded in custody for six days on Friday in connection with two separate cases of loan sharking and threats involving a 49-year-old businessman.
Authorities were also investigating a third case of usury reported by the businessman, involving a police officer, 38, who has been suspended.
The Limassol district court heard that the businessman had borrowed about €6,000 from the 33-year-old suspect to help a drug addict who was in debt.
By October 2014, he had borrowed over €55,000 and repaid approximately €20,000, police said.
The 33-year-old then asked the businessman to help him sell property belonging to the other suspect, 34. By doing so he would be released from his debt, the businessman claimed, but he could not find a buyer.
The two suspects then allegedly began to threaten him saying they would hurt him and his family. Police told the court that the 34-year-old, visited his company’s premises upturning tables and demanding repayment because he had contributed money to the amount the businessman had borrowed.
Every time the businessman borrowed money, he would issue uncovered cheques as a form of guarantee, until he raised the funds to repay the men. The businessman said he cancelled the cheques when someone tried to cash one.
This was followed by more threats and blackmail, which forced the businessman to issue an uncovered cheque for €155,000. A lawyer delivered the cheque to the 33-year-old who took legal action against the businessman for issuing a bad cheque.
The suspects’ defence said the “vengeful” complaint was based on lies but did not object to his clients’ detention.
Police said the pair were being investigated, among others, in connection with conspiracy to commit felony, extortion, usury, and profiteering.
The 26-year-old was also detained on the same grounds during a separate procedure while police were seeking a fourth suspect, 36.
Police said the 26-year-old met the businessman six months ago and threatened to publish a photograph he took with his phone if he didn’t pay him €25,000. The subject of the photo was not immediately known.
The businessman paid with cheques but was later told to pay another €15,000 to a 36-year-old that the 26-year-old allegedly owed money to.
After paying, the 36-year-old called the businessman and told him that the 26-year-old was borrowing money from people using the businessman’s name as a guarantee.
The 26-year-old then allegedly demanded another €8,000 so that he wouldn’t leak the photograph. The businessman was forced to borrow the money from the 36-year-old raising his ‘debt’ to €65,000.
Following new threats, the court heard, the businessman issued a cheque for the money, which was kept by a lawyer until he could find the cash.
In June, a relative of the businessman received threats and the 26-year-old damaged the businessman’s mother’s property, police said.
Police are also investigating a third complaint filed by the businessman, implicating a police officer and another man, 68. Reports said the businessman claimed to have borrowed €12,000 from the 38-year-old police officer, who later demanded to be paid back €84,000.
