A 44-year-old businessman accused of extorting tens of thousands of euros from an elderly man will remain in custody until his trial, the Larnaca district court ruled on Tuesday. The court accepted the prosecution’s argument that releasing him posed a risk of witness tampering. The businessman is among four defendants facing charges including participation in a criminal organisation, extortion, threats, and money laundering, with their trial set for August 3 before the Larnaca permanent criminal court.

While the 44-year-old remains in custody, two co-defendants—a 42-year-old businessman and a 45-year-old woman—were released on strict bail conditions, including financial guarantees, surrendering travel documents, and regular police reporting. A fourth defendant, aged 49, remains in custody due to involvement in other ongoing criminal cases. Investigators are reviewing bank records, contracts, cheques, and witness statements as part of their inquiry into alleged long-term financial exploitation and intimidation of the elderly victim.