Bail refused for two Cyprus nationals facing money laundering charges
August 28, 2018 4:27 am
The Suva High court has refused to grant bail to two Cyprus nationals alleged to have conducted multiple transactions involving 400 foreign cards at BSP ATMs in December last year.
Loizos and Cleanthis Petridis are charged with two counts each of money laundering and one count each of obtaining property by deception.
While refusing their bail application, Suva High court Judge Justice Thushara Rajasinghe said it is unlikely that the two will surrender once released on bail as there has been no change in their circumstances.
It is alleged that when police raided their apartment last year, they discovered fraudulent identity cards, plastic cards, ATM writer and reader machines and more than $173,000 cash believed to be the proceeds of the crime.
The duo have been further remanded in custody.
The matter has been adjourned to September 20th.