Trial of Two Foreigners Linked to TRNC Real Estate Begins in Cyprus

A trial has commenced in the High Criminal Court in Nicosia, Cyprus, involving two foreign nationals accused of buying and selling former Greek Cypriot properties in the TRNC.

According to Turkish and Greek media, two Hungarian women have been placed on trial after being arrested for engaging in real estate transactions in Northern Cyprus.

The defendants face charges related to 63 offenses amounting to a total of €271,744, received up to September 26, 2024.

Specifically, they are accused of cooperating with the company "Cyprus Constructions" in selling houses located on plots of land in the Kyrenia and Famagusta regions.

The charges also include forming an organization to commit a crime, fraudulent real estate transactions involving property belonging to another person, using land registered under a different name, fraud, and laundering proceeds obtained illegally.

The prosecution alleges that both women were aware of the illegality of their actions.

The defendants deny all charges. However, unlike in similar cases, their lawyers have not raised any preliminary objections.

The prosecution has requested the women remain in custody. One defendant's lawyer has petitioned for her conditional release until February 24, 2025, when the case will be reviewed again. The judge is expected to rule on this request today.