Twin brothers before Limassol District Court for €500,000 fraud from joint account
A couple was referred to the Permanent District Court of Limassol for misappropriation of half a million euros from a joint account at the expense of the defendant's twin brother over 15 years.
Limassol District Court: Couple in dock for €500,000 fraud against twin brother
The case of a 67-year-old man and his 61-year-old wife was referred to the Permanent District Court of Limassol today, 3 June, on charges of unlawfully misappropriating almost €500,000 from a joint bank account that the defendant shared with his twin brother. The hearing has been scheduled for early July.
As reported by Philenews, which covered the case in previous reporting, the complaint was filed in 2023 by the aggrieved brother. Following a two-year investigation by the Economic Crime Investigation Office of the Limassol TAE—which included an examination of bank transactions and company accounting records—investigators arrested the couple in November 2025. The two defendants were examined in writing and released pending completion of the examination.
According to case details, the two brothers jointly maintained a bus company based in Limassol and a joint bank account. The 67-year-old is alleged to have exploited this account, withdrawing large sums of money almost daily without the knowledge of his brother, with the assistance of his wife, who worked as a bank employee. This unlawful activity is alleged to have lasted over 15 years, with the total amount reaching €500,000.
The charges faced by the two defendants include misappropriation of funds, fraud, forgery, conspiracy to commit a felony, money laundering from unlawful activities, deception, entry of false information into official documents, impersonation and circulation of a forged document, among others.
The court released the couple on restrictive conditions: signing a bail bond, entry on the stop list, regular attendance at a police station, and surrender of their travel documents.
Source: Philenews