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Mr Shiaeles and his wife fled the island in September 2006, having been accused of perpetrating frauds to the value of more than 3.6m Cyprus pounds. The victims are said to have come from at least seven different countries. After an international arrest warrant was issued, he and his wife were located and Mr Shiaeles was arrested. The original hearing was adjourned after Mr Shiaeles's lawyer ceased to act for him. The trial has now been resumed and concluded. Cyprus Property News says that it has been 'advised by one of his victims' that a 15-month sentence was handed down to Mr Shiaeles.
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