Newsroom
Simon Aykut, former director and shareholder of the Afik Group, was handed a five-year prison sentence by the three-member judicial body headed by Christiana Parpotta.
Aykut had admitted to 40 charges of embezzlement on October 13; the remaining charges were dropped by the Prosecuting Authority.
The case involves unauthorized development and sale of Greek Cypriot land in occupied areas from 2014 to 2024, including tourist complexes in Agios Ambrosios, Kyrenia (49,000 sq m), Gastria, Famagusta (93,879 sq m), and Akanthou (20,000 sq m).
During the hearing, defense lawyer Maria Neophytou argued for leniency, highlighting Aykut’s age, honorable past, and remorse. She stressed that his role was largely nominal, with projects managed by his son, and warned against overemphasizing the term “usurpation” in the public eye.
“He is in his third year. He should be at home with his grandchildren creating memories, but he has been in prison on trial for a year,” Neophytou said.
The prosecution, represented by senior lawyer Andreas Aristides, countered that Aykut knew the purpose of the actions was to defraud and exploit Greek Cypriot land belonging to displaced persons.
The verdict is considered pivotal in cases concerning Greek Cypriot property in occupied territories, marking a significant moment in the ongoing legal and political dialogue surrounding these lands.
