Cyprus[/QUOTE]
At the centre of a new multi-million fraud in Cyprus, after a Russian-Israeli oligarch complained to the police that he had been the victim of theft by a person with Cypriot nationality, resulting in almost half a billion of his fortune ending up in a branch of a banking institution in Limassol.
Arcadi Gaydamak[/B], a well-known businessman with a huge fortune, virtually through his lawyer Nir Yaslovitzh, reported to the CID headquarters that a person of Cypriot nationality, with whom he was cooperating and trusted, defrauded him by transferring to a bank account in Cyprus the exorbitant amount of more than half a billion dollars.
In fact, as Nir Yaslovitzh reported in the complaint filed on behalf of his client on Wednesday, documents and various other evidence relating to the case, the transfer of money and more were submitted to the authorities. And he expressed confidence in the Cypriot police authorities that they will seriously and thoroughly investigate the case.
The case was brought to light by the newspaper "Phileleftheros" and according to the report, similar complaints were made to the authorities in Luxembourg, from where, according to the complaint, the fraud was planned, and to those in Israel.
Suspicions about the fraud
The businessman's suspicions are directed at his money manager and according to the complaint made, he allegedly transferred money from Luxembourg to his own account he uses in Cyprus.
"Police are investigating an allegation-complaint before them that a person defrauded a billionaire businessman. This person allegedly transferred an exorbitant amount of money to a bank account in Cyprus. Due to the nature of the case we will not go further until the investigation establishes what the offences are, the exact amount and the persons involved and in which country they were committed if any offences arise. If they were committed in other countries, we expect those countries to proceed with an investigation and the Cyprus police, if necessary, to assist in their work through a request for judicial assistance," Sergeant Eleni Constantinou, Communications Branch Officer of the Police Headquarters, told the Cyprus Times when asked to comment on the case.
They are opening files from 2002 to 2003
However, as the Cyprus Times is informed, the case goes back to the distant 2003, when the case was first reported to the Luxembourg authorities. Specifically, at that time, it was reported that three persons had stolen from the account of the wealthy oligarch about half a billion euros. One of the three persons involved is the person who is reported to have Cypriot nationality, but information from the authorities does not confirm that this person was naturalised in Cyprus. At that time, a request for judicial assistance was submitted to the Cypriot police authorities regarding the case and now the competent financial crime department of the Police Headquarters is looking into what had happened at that time as part of the investigation.
The news, however, was reported in the last few hours in various Israeli media, which dealt extensively with the case, mainly because of the reputation of the complainant, who is particularly well known for his business activities.
Profile of the billionaire businessman
Arcadi Gaydamak[/B] is a well-known name in business circles abroad.
In 1972, at the age of 20, he left Russia and, after spending some time in Israel, then made a large fortune in France. There he had initially worked as a gardener but then, in 1976, he opened his first translation agency and soon became famous.
His business expanded to other countries, such as Canada, but in France the simple agency became a huge business that allowed him, among other things, to penetrate the upper echelons of French society, making useful contacts. He soon became one of the richest businessmen in Old Alberta.
In 2000 he had been implicated in an arms trafficking case and was declared a suspect, while a French court had ordered his arrest as guilty of arms trafficking in an oil deal in Angola in the early 1990s. He had denied all charges and shortly afterwards Jean-Christophe Mitterrand, son of former French President François Mitterrand, was implicated in the same scandal.
The business tycoon escaped jail after claiming it was all done with the agreement of the French and Angolan governments. But the climate was now heavy and two years later (2002) he returned to Russia to live there, now with a bank and a company dealing with his interests.
He holds four passports (Angola, Canada, Russian Israel) and the Bentley he drives has Angolan plates.
Contents of this article including associated images are belongs Cyprus Times
Views & opinions expressed are those of the author and/or Cyprus Times
Source
