A 74-year-old businessman, Simon Aykut, accused of developing and selling Greek Cypriot-owned properties in Northern Cyprus, has admitted to 40 of the 242 charges against him. The remaining charges were withdrawn following an agreement between the defence and the prosecution during court proceedings on Monday.
Aykut is alleged to have developed and sold properties valued at approximately €43 million on land belonging to Greek Cypriots in the north.
During the hearing, Aykut’s defense attorney, Maria Neophytou, informed the court of the intention to conclude the case by having the defendant admit to certain charges while the rest were dropped. The session was briefly adjourned for half an hour to allow both sides to agree on a common set of facts before resuming to determine sentencing.
Background of the Case
Initially, Aykut faced a total of 242 charges: 60 counts of fraudulent real estate transactions, 60 counts of illegal possession and use of land, 62 counts of money laundering, and 60 counts of conspiracy to commit a felony.
Sentence to Be Announced October 24
The court has reserved its decision until October 24, 2025, at 11:00 am. Until then, Aykut will remain in custody under the same conditions.
(Source: CNA)
