The Cyprus University of Technology (TEPAK) has been rocked by a multi-million euro scandal with police on Thursday arresting 11 people. The suspects are anticipated to appear in court for police to request their remand on Friday.
Police believe the suspects are involved in the misappropriation of money in connection to a series of €5 million EU-funded research programmes that took place between the years 2008-2015.
All 11 of the suspects had been arrested by Thursday evening. At least one is a former TEPAK employee.
In an announcement, TEPAK noted the suspect had been suspended and, in June 2015, resigned.
“The university believes that any possible mishandling in the past, by isolated individuals, does not represent the current administration,” the announcement said.
It also noted that the current administration was fully cooperating with the authorities.