A 44 year-old man was remanded in custody on Monday for eight days following a ruling by the District Court of Limassol in connection with a case concerning the largest quantity of cocaine ever seized in Cyprus.
The cocaine was found on the 4th of August during an anti-drug squad (YKAN) operation which located 156kg consignment hidden in a shipment, in Limassol.
The cargo of generators, where the drugs were stashed, had been checked at two other European ports before arriving at the Port of Limassol, on the southern coast of Cyprus.
The 142 cocaine packages were hidden inside the fuel tank of the generators, stored at a warehouse near Limassol Port.
The 44 year old man, who is living abroad, is the owner and director of the company which imported in Cyprus the generators.
He was arrested last night at the airport of Larnaka on his return to the country and raised no objection, saying that he was innocent.
The police officer handling the case said that the arrested man had suspicions that the cargo was full of drugs, following information he had received from one of his partners, who said that he was threatened by the senders of the cargo, who are believed to belong to a drugs cartel in Latin America.
His partner, a resident of an other European country, is sought by the police, in cooperation with Interpol and Europol.
The police are expected to take additional 35 testimonies.
The origin of the consignment seems to be a Latin American country and its wholesale value is estimated at €10 million, while the street value may reach up to €60 million.