Three released on parole in Larnaca racketeering case

Three of the four defendants accused of participating in a criminal syndicate in Larnaca were conditionally released on Wednesday after the court removed several charges from the indictment, significantly altering the scope of the case.

The Larnaca permanent criminal court ruled that a 42-year-old man and two 29-year-olds could be released under strict conditions, accepting defence arguments that their continued detention was no longer justified following the revision of charges.

All three denied the allegations against them.

The court said the “substantial change in the indictment” warranted a fresh assessment of their custody, adding that their personal circumstances and ties to Cyprus reduced a flight risk.

Each was ordered to post a €30,000 bond with reliable guarantors, surrender travel documents and report to a police station three times a week.

Their names were also placed on a stop list.

Only a 22-year-old suspect, identified in proceedings as ‘Syop’, remains in custody and on trial.

He faces additional charges including the attempted murder of a businessman, making him central to the prosecution’s case as it now stands.

The revised indictment leaves the 42-year-old facing charges of money laundering and participation in a criminal organisation, while the two 29-year-olds each face an additional count of aiding and abetting money laundering.

A separate defendant, aged 32, had already been acquitted in earlier proceedings due to insufficient testimony.

The hearing of the case has been scheduled for May 5.

The decision marks a distinct shift from an earlier ruling in February, when the same court ordered that five defendants remain in custody until trial, citing the seriousness of the allegations and the risk of further offences.

 At the time, the court said there was “a risk the accused will not appear before the court” and warned that release could lead to “new offences or interference with the investigative process”.

The case stems from a sting operation carried out on January 22 in Larnaca and the central prisons, targeting what investigators described as an organised criminal syndicate linked to extortion, violence and money laundering.

Prosecutors had initially filed multiple charges against the group, including participation in a criminal organisation, conspiracy to commit a felony, extortion and firearms offences.

The allegations relate to incidents between 2023 and 2025, with police claiming the group operated a protection racket targeting local businesses.

Central to the case is a violent confrontation on January 17 in Larnaca city centre, near a police station, during which gunshots were fired.

Investigators allege the incident was triggered by demands for protection money from a businessman operating on Gregoris Afxentiou avenue.

According to police, the group initially demanded €7,000 followed by monthly payments of €1,000.

When the businessman refused, he was threatened and later assaulted, leading to a clash involving knives, metal bars and an axe.

Two shots were fired during the incident, and a firearm was allegedly found in the possession of one suspect.

Authorities have also linked the case to wider organised activity in the city, including claims that the group sought control over nightclub security operations and maintained income streams inconsistent with declared earnings.

Financial investigations pointed to cash-based transactions and suspected laundering of proceeds.

In a further development earlier in the investigation, a police officer was arrested on suspicion of aiding one of the suspects, after allegedly allowing him to use a mobile phone while in custody.

He is being investigated for abuse of power, breach of protocol and possible corruption.