A large-scale power shift is underway in the criminal world of Limassol. After the shooting of 49-year-old local mafia boss Stavros Demosthenos in mid-October, and the subsequent arson of the luxury car fleet of businessman Dmitry Punin, the owner of the Pin-Up casino, who is wanted in Ukraine, the situation on the island has escalated to the limit. Experts and law enforcement officers do not rule out that Punin could become the next target.
The murder of Demosthenos has become one of the most high-profile crimes in Cyprus in recent years. Although the island has long served as a "safe haven" for the Russian mafia, this time it is about the elimination of the most influential criminal authority. Demosthenos was shot dead in his Rolls-Royce in the Agios Athanasios area, in front of his 18-year-old son.
The order looked like a well-prepared operation: the killers used a white van and a motorcycle, and dozens of automatic rifle cartridges were found at the crime scene. The suspects - already eight - have been detained, including Pontic Greeks and a prisoner who, according to the investigation, gave the order from prison. One of the witnesses claimed that the attacker was wearing a hat and dark glasses, as if stylized for Zorro.
In parallel, the police are investigating the version related to match-fixing. Demosthenos was the owner of the Karmiotissa football club, which was under UEFA supervision due to suspicions of fixed games. The club previously belonged to Dmitry Punin, the owner of the Pin-Up gambling platform, who has long been associated with Russian criminal structures. Punin sold the club to Demosthenos only formally - according to media reports, they continued to work in joint schemes.
At the end of November, a new signal occurred: Punin's entire car fleet was set on fire in Limassol. A Lamborghini Revuelto, a Porsche, a Tesla and a unique Mercedes G63 XLP Adventure worth over $1 million were burned in a parking lot in the Mutayaka area. Cameras recorded an attacker in black clothes pouring fuel on the car. The damage exceeds one million euros.
Cypriot media link the arson with either revenge for the death of Demosthenes, or a new round of the struggle for control over the gambling market and money laundering schemes. Punin himself arrived in Cyprus six years ago with great ambitions, created the PUNIN Group, bought up restaurants, construction companies, offices and luxury apartments. The main source of his income was the online casino Pin-Up, the profits of which were withdrawn through Cypriot and offshore structures.
Punin had a reliable cover — Stavros Demosthenos. He organized forceful pressure on competitors, "resolved" problems with the police, helped with documents, licenses, and citizenship for Russian businessmen. In particular, he was in charge of the "golden passport" schemes that allowed thousands of Russians to obtain Cypriot citizenship for investments.
Demosthenes also controlled the flow of "dirty" Russian money through real estate, car dealerships and construction companies. However, recently he began to lose influence, and several financial schemes came under scrutiny. This, according to experts, could be one of the motives for his liquidation.
The liquidation of Demosthenos was a blow to the entire Russian-Cypriot criminal network. The media is actively discussing that Punin, who has lost his main "roofer", is now in a vulnerable position. The arson of his cars is seen as a warning or the beginning of larger-scale pressure.
While law enforcement officers investigate the crimes, big changes await Cyprus. The collapse of the mafia duumvirate that controlled the gambling business, football clubs, and the legalization of Russian capital could be the beginning of high-profile revelations. And the main question remains: will the investigation reach Punin — or will he disappear from the island before the "cleansing" begins?
