Simon Aykut, a developer with Israeli, Portuguese and Turkish citizenship, admitted to 40 counts of property fraud during a court hearing Tuesday in Cyprus, drawing widespread coverage in the Cypriot press.
Aykut, who has been in custody since June 2024, is accused of illegally exploiting former Greek Cypriot properties in north Cyprus. According to Fileleftheros, the charges relate to 40 plots of land totaling nearly 400,000 square meters, with an estimated value approaching €40 million.
During the hearing, Aykut’s attorney Maria Neofitu announced that a settlement had been reached between the defense and the prosecution. Vasilis Bissas, representing the Republic of Cyprus in place of prosecutor Andreas Aristidis, confirmed the agreement. The court is expected to deliver its verdict on Oct. 24 at 11 a.m.
Of the 242 charges originally filed, 202 were dropped. Aykut now faces up to seven years in prison for the admitted offenses, which involve the sale and development of properties belonging to displaced Greek Cypriots. The affected areas include Ayios Ambrosios (Esentepe), Trikomo (Yeni İskele), Gastria (Kalecik), and Akanthu (Tatlısu), where developments such as Caesar Cliff, Caesar Resort, Caesar Beach, Caesar Blue, Caesar Breeze, and Caesar Bay were built.
In court, Aristidis reiterated that Turkey has occupied northern Cyprus since 1974, displacing over 160,000 Greek Cypriots and facilitating the looting of their properties. He alleged that Aykut was involved with Afik Group, a north Cyprus-registered company responsible for selling real estate built on these lands.
Neofitu argued for leniency, citing Aykut’s advanced age and clean criminal record. She claimed his involvement stemmed from a desire to help his son, who had registered the company under Aykut’s name due to his north Cyprus citizenship. She also stated that Aykut had no prior knowledge of the investigation or legal proceedings initiated by Greek Cypriot authorities.
Local media reported that Aykut appeared emotional and overwhelmed during the hearing.
Other newspapers covered the case with headlines such as:
- Politis: “Simon Aykut Admits Guilt, Awaits Sentencing”
- Haravgi: “Aykut Case Develops, Verdict Expected Oct. 24”
- Alithia: “Aykut to Be Sentenced Oct. 24 – Admits to 40 Counts of Property Abuse”