Limassol jewelry dealer accused of stealing €10 million in gems

Police in Limassol are investigating a fraud case involving high‑value jewellery. A 56‑year‑old handmade jewellery producer says he handed over more than €9.5 million worth of items – including 35 unique pieces, diamonds and precious stones – to a 54‑year‑old dealer on 6 June for resale. The parties signed a written agreement that required the dealer to return any unsold items by 8 June, but the dealer failed to appear at the scheduled meeting and could not be located.

The producer filed a complaint, prompting Cypriot authorities to issue an arrest warrant for the dealer. Investigators are examining all aspects of the alleged scheme, which centres on jewellery and gemstone transactions valued at nearly €10 million.