Larnaca entrepreneur arrested for 12 million euro fraud
62-year-old Larnaca real estate agent Savvas Kakos was arrested on warrant and remanded in custody for four days by Larnaca District Court. Eleven legal proceedings have been initiated against him for fraud, forgery, and money laundering, with investors claiming to have lost a total of 12 million euros. The alleged crimes took place between 2022 and 2024.