Newsroom
A shocking new controversy has emerged involving recipients of the minimum guaranteed income who are allegedly renting valuable Turkish Cypriot properties for an incredibly low price. The properties, which are said to be of enormous value, are not even being used or managed by the recipients themselves but are reportedly under the control of third parties or companies. This raises serious questions about the integrity of the arrangement.
According to Nikos Ketteros, the chairman of the Parliamentary Committee on Refugees, the situation is far more troubling than it first appears. Ketteros revealed to Interior Minister Konstantinos Ioannou that a number of these properties are allegedly being managed by individuals or companies with questionable connections, including possible ties to the underworld.
But what makes this case even more suspicious is the involvement of ''virtual companies''—businesses set up on paper but likely with little to no legitimate operations. These dummy companies are reportedly behind some of the suspicious rental deals, which include both land and lodgings. The phenomenon isn't isolated to just one area, either, with Ketteros indicating that such practices have been found in multiple regions, not just Limassol.
Although the rental contracts themselves are legal, the vast disparity between the rental prices and the actual market value raises serious red flags. Ketteros has called for a thorough investigation by the Turkish Cypriot Services Management Service to look into these suspicious contracts. The goal is to identify any deals that seem unusually cheap or involve questionable beneficiaries or managers.
“We need to make sure everything is above board,” Ketteros said, adding that, if necessary, official complaints would be made to the authorities once further investigation is completed.
The allegations have caused a stir, especially since they involve vulnerable groups receiving social benefits while potentially engaging in questionable financial arrangements. There are growing concerns over whether these properties are being exploited for profit by parties who are using the minimum income recipients as mere fronts.
For now, the investigation continues, and authorities are working to uncover the full scope of the scandal. If the findings support the allegations, this could become one of the most significant financial and political controversies of the year.
