A 29-year-old man was arrested in Athens yesterday accused of running a racket that earned him 700,000 euros by promising to sell luxury cars at cut prices. Police said that the suspect would promote his service by alleging that he was the nephew of a well-known shipping tycoon and that the cars were going cheap for marketing purposes. When the victims called on the suspect to hand over the vehicle, the 29-year-old would delay by offering excuses or giving forged checks. Among the list of tens of victims are well-known football and basketball players, authorities said. The establishment of two companies in Athens that he claimed had branches in Patras and Thessaloniki helped make the scam more convincing after it started operation in 2004.