A PUBLIC prosecutor in Glasgow has issued an arrest warrant for a 45-year-old British Cypriot, Michael Voudouri, in connection with charges of money laundering, the Cyprus News Agency reported yesterday.

Voudouri was due to show up in the Scottish capital’s Supreme Court on Friday to hear what his sentence will be after pleading guilty to two cases of money laundering.

A month ago, the 45-year-old had confessed to hiding over £10 million (€12.3m) in accounts in Cyprus, Greece and Switzerland which had come from the collection of VAT on intra-European virtual transactions.

The British Cypriot originally faced charges of money laundering involving £45m (€55.5m) though this figure was reduced after his confession.

He also pleaded guilty to a separate charge of hiding £1.2 million (€1.5m) from the taxman.

He was released on bail with restrictions after agreeing to collaborate with the public prosecution, though failed to turn up to Friday’s hearing.

Voudouris was previously sentenced to four years in jail in 2004 on similar charges while in 2008 a court ordered him to return £1.3m (€1.6m) obtained illegally.

Cyprus Mail