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G/C – T/C cooperation in northern Cyprus for betting

09/07/2003 12:33
Deputy Chairman of the House Audit Committee, Giorgos Georgiou revealed on Wednesday the operation of a luxury betting agency in the occupied areas with the joint action of G/C and T/C, speaking at the meeting of the Audit Committee for the amendment of the law on the collective betting tax.

The Committee, which had invited representatives from the police, the Prosecutor General’s office, the Finance Ministry, the Cyprus Horserace Club and collective betting companies, discussed the decline in the percentage submitted by the “players” from 25% to 8% and the increase in the imprisonment sentence from 1 to 5 years. The fine will not exceed CYP 50,000.

However, the representatives from the police and the Prosecutor General said that the fines imposed by the courts do not exceed CYP 2,500, as it is difficult to prove that illegal betting players (football, horserace, dog race) receive large sums from illegal betting.