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Israeli real estate developer to stay under arrest for €1 billion Trikomo project


The Nicosia District Court ruled on Thursday that Israeli Simon Mistriel Aykut, the director of the Afik Group, a northern real estate developer, will stay in custody for a further six days.

The 73-year-old Aykut, who is dual-passport holder from Portugal and Israel, is accused of a €1 billion development project in Trikomo that is situated on Greek Cypriot land.

He was apprehended last week in the Paralimni area while trying to cross to the north.

The Nicosia District Court granted the police’ plea to impose a six-day custody order on the 73-year-old.


Two more people are still wanted in connection with this case: Afik Yaacov, 51, and Michael Mistriel Aykut, 49, who are also directors of the organisation. They have Portuguese and Israeli passports, just as their father.

The five charges for which all three are suspected are: conspiring to commit a misdemeanour or felony; fraudulent transactions involving another person’s real estate property; unlawful possession; possession and use of land registered to another person; and conspiring to commit embezzlement.

The 73-year-old is recognised on Facebook as the Afik Group of companies’ founder. The Caesar Project, started by this construction company, encompasses projects on property in Gastria, Akanthou, Ayios Amvrosios, Kyrenia, and Trikomo, including Caesar Blue, Caesar Beach, Caesar Breeze, Caesar Bay, Caesar Cliff, and Caesar Resort.

Greek Cypriots who were testifying against Aykut said they had not given their permission for their lands to be developed.


In addition, two European nationals claimed to the police that they never received a title deed after paying €235,000 for a home in Gastria, Famagusta.

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It was claimed that Christos Clerides, the former head of the bar association, had Aykut’s company represented by his law firm.

The 73-year-old’s detention comes after the Republic’s officials cracked down on property buying in the north.

Akan Kursat, a Turkish-Cypriot lawyer, was previously detained in Italy pursuant to an EU arrest order for helping British con artist Gary Robb sell real estate in Klepini, Kyrenia.

(Source: Cyprus Mail)

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