Man charged for misusing GC property in north released on bail

A 25-year-old man charged with misusing Greek Cypriot property in the north was released on €92,000 bail on Tuesday.

He appeared before Nicosia district court in the morning, which referred the case to criminal court and set the conditions of his bail.

The trial will begin on October 8.

Court set the €92,000 bail as condition for his release, adding he must sign a personal €50,000 guarantee and pay €9,000 in cash.

Additionally, his wife, a Cypriot national, was appointed as a guarantor, submitting the title deed of a luxury car worth €33,000. 

The man, an Israeli national must submit all his travel documents to police.

His name will be placed on the stop list and he must present at the Pissouri police station every day between 8 and 10pm.

He is barred from going to areas not controlled by the Republic (the north).

The 25-year-old has been living in Cyprus for the past two years with his wife, and has applied for a residence permit which will be examined on November 4, his defence lawyer told court.

The 25-year-old was arrested on Wednesday at Paphos airport where he was slated to travel to another EU country.

He was remanded on Thursday for five days in connection with charges related to money laundering, suspicious transactions in real estate and use of land registered to another person.