The alleged victims included at least seven different nationalities, with some investors losing hundreds of thousands of pounds.
International arrest warrants were issued and in June last year we reported that that the couple had been found and Shiaeles was apprehended. He appeared in court June 7 and was bailed to appear in the Limassol District Court on July 16.
It seems that Shiaeles and his original lawyer parted company, causing the trial to be adjourned while Shiaeles instructed another lawyer to represent him.
The trial has now been concluded and we have been advised by one of his victims that Shiaeles has been sentenced to 15 months in jail by a judge at the Limassol District Court.