Fraud and deception: Savvas Kakos and QG 352,000€ Villa Scam

Israeli lawyer files complaint alleging forged documents, false deposit confirmations, and fraudulent transfers by Savas Kakos and associates.

A new criminal complaint has surfaced in Larnaca, adding to the mounting accusations against Savvas Kakos and his company, Quality Group Cyprus. The complaint, filed by Israeli lawyer Inbal Moshe on behalf of an investor, details how Kakos and his associates allegedly defrauded clients in a €352,380 villa sale in Zygi.

According to the complaint, Inbal Moshe acted as trustee for Israeli clients under an agreement with Star Quality, which marketed Cypriot properties to foreign investors. Funds were supposed to be placed in escrow in Israel and released only once the developer confirmed registration with the Land Registry.

Instead, Inbal Moshe alleges that Kakos's legal associates including Elena Kato, head of Quality Group's legal department provided him with fake deposit confirmations and forged Land Registry documents.
These falsified papers were used to pressure Inbal Moshe into transferring €140,000 to VKCA Ltd, a company that no longer legally owned the property.