The case of two Cyprus brothers facing fraud charges has been transferred back to the Magistrates Court from the High Court.

Loizos Petridis and Cleanthis Petridis are charged with obtaining property by deception, attempt to obtain property by deception and possession of property suspected of being proceeds of crime.

Trial had been fixed at the High Court before it was confirmed that the Magistrates Court had the jurisdiction to hear the case.

It is alleged that the Petridis brothers by deception, dishonestly obtained $12,500 from Bank of South Pacific (BSP) in December 2017.

It is alleged that during the same period, they attempted to obtain $17,900 from BSP with intention of permanently depriving BSP of the said amount.

The third allegation is that the brothers possessed over $203,000 that may reasonably be suspected of being proceeds of crime.

The case will be recalled next Monday to fix a hearing date.