Italian held over £100,000 gold coin scam

[FaGal]

Italian held over £100,000 gold coin scam
www.cyprus-mail.com - By George Psyllides - April 28, 2005


A 58-year-old Italian was yesterday remanded in custody for eight days on suspicion of selling fake golden coins to a local goldsmith for £100,000.

The alleged offence took place in August 2003.

Amadeo Audiero was arrested in Spain on Monday and was promptly extradited to Cyprus on Tuesday night.

His name had been on Interpol’s wanted persons list after a European arrest warrant was issued by Cyprus in March.

According to police, Audiero came to Cyprus on August 20, 2003 with 53-year-old Egyptian Sayed Abd El Hamid, an Italian passport holder.

Two days later, they met goldsmith Antonis Andreou from Anthoupolis and offered to sell him a quantity of 24-carat Mexican Pesos.

On the same day, Andreou was given a coin and after checking it he found it to be genuine and agreed to buy 500 coins for £100,000.

On August 25, Andreou gave the suspect £5,500 for 10 gold coins, which were taken out of a bag.

Three days later Andreou met the two men in the Meridien Hotel in Limassol and gave them £15,000, asking for coins in exchange.

Audiero however told him that the rest of the coins would be placed in a safe that Andreou would provide.

On the same day Andreou got a room and a safe at the Saint Raphael Hotel and they all went upstairs together.

The suspect opened a bag, which contained gold coins and gave Andreou 10 pieces.

Audiero put the rest in the safe, which was locked.

It was then placed into a cardboard box that was sealed with tape and a paper with their signatures placed on top.

The box was put in the cupboard and the suspect took the key to the safe, the court heard.

The suspect and El Hamid left the island the next day after agreeing with Andreou to settle the amount in Greece where the key to the safe would be handed over to him.

On August 27, Andreou sent £35,000 to Greece and two days later a third person delivered the final amount – £44,500 – but the suspect did not hand over the key to the safe.

Andreou broke into the safe a couple of days later and discovered that it contained 473 copper coins.

In April last year, Andreou told CID that he had located the suspect and the Egyptian man in Johannesburg, South Africa.

He reported the case to the local police but the two were released since there was no pending warrant against them.

Warrants were issued after that and the suspects’ names were put on the Interpol wanted list.

Police said they were sure the suspect had local accomplices, who are being sought.