Limassol’s Economic Crime Unit intensifies its investigation into Metamax, a suspected investment fraud scheme, as police stations nationwide receive a surge of complaints from victims reporting substantial financial losses.
Over 100 complaints have been filed across Cyprus, with total claimed losses exceeding €220,000, according to Phileleftheros.
Complainants are providing written statements alongside evidence linked to the suspects and the scam. Ten new complaints were lodged in the past 24 hours, with authorities anticipating further reports as more victims come forward.
Investigators are scrutinising audiovisual material obtained by philenews, which appears to show a key figure in the scheme urging attendees at a presentation, held several months ago, to invest in Metamax.
The video reportedly depicts the individual suggesting potential investors borrow money to purchase packages, with guarantees of repayment within 40 days.
The investigation is also examining messages and group conversations on Telegram, where alleged perpetrators are said to have encouraged members to capitalise on a wave of offers.
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