Israeli Property Developer in Court

Simon Mistriel Aykout - Director of Afik Group
[Simon Mistriel Aykout – Director of Afik Group]
It has been reported in the Greek Cypriot press that Simon Aykut, the CEO of the Duminka company, which operates in the construction sector in North Cyprus and is accused of exploiting former Greek Cypriot properties, faced 242 charges in court yesterday, Kibris Postasi reported.

According to Greek Cypriot daily ‘Phileleftheros’, Vasilis Bissas, a lawyer representing the South Cyprus government, brought 242 charges against Aykut during the hearing and argued that Aykut should remain in custody until the trial is over. Some previously unknown details about the case were also revealed during the hearing.

In court, statements were heard from Aykut’s personal driver, who was questioned right after Aykut’s arrest, and from Greek Cypriot businessman Savvos Kakkos, who was in talks for a potential investment in South Cyprus with one of Aykut’s sons. The driver said that Simon Aykut was the “big boss” of the Duminka company.

Kakkos claimed in his testimony that he had met with one of Aykut’s sons, Jack Afik, regarding an investment in South Cyprus. He also said that Afik told him about the “Caesar Project,” a development mostly built on former Greek Cypriot properties in North Cyprus.

Lawyer Bissas continued to stress the seriousness of the charges against Aykut, mentioning that he might flee, and that the illegal activities generated 43.5 million euros. He added that Aykut could face up to 14 years in prison and asked for him to remain in custody.

Aykut’s lawyers, Nikoletta Haralambidu and Maria Neofitu, argued that Aykut has a home in Larnaca and no intention of fleeing. They also said he was willing to pay a bail of 1 million euros and denied that he had any connection to the Duminka company. The lawyers submitted a document from the North Cyprus authorities showing that Aykut’s two sons own the company. They also mentioned that Aykut had been attacked and constantly threatened while being held on remand in the Central Prison.

The court, made up of three judges, will announce their decision on whether Aykut will remain in custody on Wednesday, September 11. The trial will continue on September 27.

Meanwhile, ‘Alithia’ newspaper  reported, unlike others, that Aykut is being represented by two Greek Cypriot lawyers, a Turkish Cypriot lawyer, and an Israeli lawyer.

The paper also said that the Greek Cypriot police gathered information related to the sale of former Greek Cypriot properties in North Cyprus from social media and other public sources.

Spokesperson for the Greek Cypriot police, Christos Andreu, said yesterday that they are ready to investigate any complaints or reports about these properties in North Cyprus. He added that four cases have already gone to court, and seven more are either close to completion or are in advanced stages.

Kibris Postasi

*Simon Mistriel Aykut is an Israeli property developer, founder of the Afik Group, which has been involved in controversial real estate projects in North Cyprus. Aykut, along with his sons, has been accused of developing properties on land in North Cyprus that originally belonged to Greek Cypriots, without their consent or legal authorisation. These developments, known as the “Caesar Projects,” include large-scale residential complexes like Caesar Beach, Caesar Breeze, and Caesar Bay in areas such as Kyrenia and Iskele.

Aykut is currently facing numerous charges in a criminal case, including money laundering, conspiracy, and fraud, relating to these property deals. The value of the disputed developments is reported to be around €43 million. Due to concerns that Aykut might flee, as he holds multiple passports (Israeli, Turkish, and Portuguese), he has been kept in custody pending trial. His defence argues that he is not directly responsible for the company’s actions, as ownership of the Afik Group had been transferred to his sons.

This case has been under investigation for several years, and it has attracted significant attention. [Ed.]

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