SoccerNews.com

The ex-president of Cypriot football club Anorthosis, the surprise package of this year's Champions League, was retained in police custody on Tuesday to help a police probe of embezzlement charges.

Andreas Panteli appeared before a Nicosia district court where a judge granted a police request he stay in detention for a further three days on the grounds there was “reasonable suspicion” that a crime had been committed.

Less than 24 hours earlier the Anorthosis president resigned from his post and pledged to return any amount of money found owing to Anorthosis Famagusta following an independent audit.

And although the Anorthosis board has withdrawn its complaints against the 48-year-old Panteli — citing reasons of public interest — the police investigation continues.

The court also heard that the embezzlement probe will extend to overseas as officers track the money trail and suspect transfer dealings.

Panteli was arrested last Friday, two days after Anorthosis drew 2-2 with Werder Bremen in the Champions League, by police looking into financial mismanagement involving one million euros (1.26 million dollars).

Police are investigating a case of forgery, distribution of forged documents, theft, obtaining money under false pretences and trying to cover it up.

The high-profile figure was accused by fellow executive members of obtaining 418,498 euros under false pretences and of trying to take another 500,000 euros in club assets.

The offences are said to have taken place between August and November. Champions League takings are also thought to be part of the missing money.

Last week, Panteli, who took over Anorthosis five years ago and is credited with saving them from bankruptcy, said he was “shocked and surprised” by a whispering campaign against him and that he had “nothing to hide.”

Cyprus football fans are hoping the affair will not damage the team's progress in Europe's premier club tournament, while manager Temuri Ketsbaia has insisted he will stand by his close friend whatever the outcome.

The revelations have shocked public opinion and Anorthosis fans have criticised the move against Panteli, with abusive graffiti daubed on the walls outside the club's stadium.

Anorthosis are now calling for unity in a bid to overcome one of the darkest chapters in their 97-year history.

The Cypriot club lies third in Group B of the Champions League and a win away to Panathinaikos in Athens next week would secure an unlikely berth in the last 16 knockout round.

Setting records for a Cypriot side, they have so far only lost once in five starts in the European tournament and also top the Cyprus league.

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