Three men aged 58, 39 and 30 were on Monday remanded in police custody for eight days by the Limassol District Court in connection with the murder of 49-year-old businessman Stavros Demosthenous, who was shot dead last Friday near his home in Ayios Athanasios.

Demosthenous, the owner of the Democars car dealership and chairman of Karmiotissa FC, was in the passenger seat of a car driven by his 18-year-old son when he came under fire.

The teenager, unharmed in the attack near their home, drove his wounded father toward the hospital but crashed on the motorway in the process. Demosthenous was pronounced dead upon arrival at the hospital.

The three men appeared in court under heavy security, wearing bulletproof vests.

According to initial information, the victim appears to have been shot multiple times from a vehicle travelling ahead of his own, suggesting the ambush had been carefully planned. A white van-type vehicle, believed to have been used by the gunmen, left the scene immediately after the shooting.

Shortly after, officers were alerted to a burning vehicle in the Yermasogia area. Examinations revealed it matched the description of the perpetrators’ van, and had been reported stolen on September 4 in the Nicosia district. Investigators believe the attackers abandoned and set fire to the van before escaping the area.

A 44-year-old Greek Cypriot former footballer was arrested on Saturday night in connection with the case.

He reportedly provided police with the names of two of the suspects, aged 39 and 58, who he said had bought a motorcycle from him, possibly for illegal use.

The motorcycle, believed to have been used by the perpetrators, was found abandoned in Ayios Tychonas roughly 24 hours after the murder.

Police sources said the suspects’ movements were captured by security cameras near Demosthenous’ residence in the days before the attack, indicating that the victim had been under surveillance.

CCTV footage presented in court shows a double-cab vehicle, distinguished by its unique grill and exhaust, at key locations linked to both the shooting and the subsequent arson of the van.

The footage also captures the 39-year-old Greek national, identified as the vehicle’s owner, driving it in the days leading up to and on the day of the murder. The same vehicle was also recorded following a motorcycle with investigators suspecting its driver helped them flee after abandoning the bike in Ayios Tychonas.

Investigators believe the 44-year-old suspect picked up the perpetrators after they set fire to the van, transporting them from the scene of the arson. The double-cab was later recorded following the motorcycle linked to the suspects.

The 39-year-old Greek national was arrested in Episkopi, where officers also recovered a yellow T-shirt and the double-cab vehicle.

The 58-year-old suspect denies involvement and faces multiple allegations under investigation. The 30-year-old has requested to give a statement with legal counsel present, while the 39-year-old suspect placed himself at the scene of the crime but denied involvement in it.

Meanwhile, police also conducted searches at the Central Prisons on Sunday night in connection with the same case. Investigations are ongoing.

Demosthenous’ funeral was held on Monday at 12:30pm at the Church of Ayios Kosmas of Aitolos in Limassol, at which all mourners were asked to wear white.