Eight-year jail term for accountant who stole €3.2 million from company group
The Limassol Criminal Court sentenced a 54-year-old accountant to eight years in prison after finding her guilty of stealing €3.2 million from a group of companies where she was employed.
Her 68-year-old husband, who was also a defendant in the case, received a two-year prison sentence, which was suspended for three years.
In its ruling, the court described the offence of employee theft as extremely serious and said the defendant had grossly violated the trust placed in her by her employer. “Her actions were systematic and organised,” the court said, adding that the case was among the most serious of its kind to come before the court.
A confiscation order was issued for €750,000 in assets held by the accountant, and another for €10,000 in connection with her husband.
The accountant had faced hundreds of charges, including forgery and circulation of forged documents. Between 2017 and May 2020, she forged and cashed cheques issued in the names of various individuals – mainly employees of the company group – and diverted the funds for her own use.
She also forged 198 money transfer forms and payroll documents and redirected company funds to different accounts.
She was further charged with theft by an employee, falsification of accounts to defraud, destruction of company accounting records and money laundering – having acquired and possessed €3.5 million she knew came from criminal conduct.
Her husband faced similar charges of forgery, handling of forged documents, theft, and money laundering.
The court ultimately found that he played a supporting role by depositing company funds into unrelated accounts. It noted that he typically collected takings from one of the group’s kiosks and had deposited cheques worth €10,700 made out to third parties.
During the trial, the prosecution called 34 witnesses. Twelve defence witnesses were also summoned.
The prosecution argued that the accountant exploited her position as head of the accounting department to misappropriate funds. Between January 2017 and May 2020, €3.5 million in kiosk earnings were stolen, of which €3.2 million was ultimately proven in court.