The police arrested a 60-year-old on Sunday in the framework of investigations into online fraud and the extortion of a large sum of money, after a 49-year-old in Nicosia reported he had been conned out of €24,440.

According to the police, the 49-year-old said he had been persuaded to invest money but had been scammed.

The perpetrators then allegedly demanded a further €13,100 in exchange for the man’s profits.

Police investigations led to a 60-year-old, who was then arrested and placed in custody to facilitate ongoing investigations.