North Cyprus Property | Abdurrahman Gűney’s K5 Role

North Cyprus Property | Abdurrahman Gűney’s K5 Role

in Cyprus Today – 8/6/2011
Wednesday, June 8, 2011

Kulaksız 5 Builder admits he made a mistake – A builder at the centre of a loan that was never repaid – sparking an auction of homes bought by expats – has admitted he was wrong. Abdurrahman Gűney, who ran Kulaksız Construction, said he regretted ever having signed on the dotted line for the November 2005 loan on land in Karşıyaka. He told Girne District Court on Monday that he was “ready to enter a judgement and pay compensation”. There was some confusion about whether Mr Gűney or landowner Yüksel Yılmaz took out the 100,000TL loan on the Kulaksız 5 site. Mr Gűney insisted he was the guarantor but was shown banking records that stated he was the borrower. A Land Registry document showed that Mr Yılmaz took out the loan.

Mr Gűney said during cross examination he had not read the documents properly and believed he was simply guaranteeing the loan. “I admit I made a mistake” he said. “I was not acting in a fraudulent manner. I made losses. My company made losses.” “I made a mistake” he said “I was only a guarantor.”

“My understanding was that the landowner, Yüksel Yılmaz, would take out the credit and pay it back quickly” he added. “I did not know it would come to this. I am ready to enter a judgement and pay compensation”. He then said, however, he had no money to pay any compensation. Mr Yılmaz is believed to be in Turkey, working for Pegasus Airlines. The loan, which was taken out despite the construction and sale of homes on the land, was never repaid. A year ago this month, the land, and with it the properties, was sold at public auction, leaving the expat buyers facing eviction.

Last month Cyprus Today revealed claims that Kulaksız Construction had taken out loans on land at four or five sites and nothing had been repaid. A spokesman for the builders denied the claims, which had been made by buyers. The expats are currently involved in a case attempting to prevent the sale of the houses they bought back in 2005. The court heard that in 2009, a previous court case to stop the auction and sale of homes was withdrawn. Richard Barclay, speaking on behalf of the buyers, said this had happened on the advice of their own advocate. He said it was something the buyers were unhappy about, but the judge had told their advocate to withdraw the application. The current court proceedings have been adjourned until Tuesday.”

So three years on, this paragon of virtue who has brought nothing but misery to almost everyone they ever sold to, who so regretted these actions they’re still at it and still spreading fear amongst their purchasers. Yes, a truly repentant building company…not. You would think, reading this, that the K5 site and its purchasers were the only ones they defrauded. Not so, they are allegedly serial fraudsters and are still making the lives of their purchasers miserable. In my opinion the only thing any of them ever regret is getting caught, although for the life of me I cannot understand why. There are no consequences for them for their crimes, the only ones who ever pay are the purchasers, over and over and over again.

“‘I did not know it would come to this. I am ready to enter a judgement and pay compensation.’ He then said, however, he had no money to pay any compensation.”

Well Mr Guney, none of your purchasers have any money either, thanks to you. Yet still he comes back here and plies his trade. No shame, no honour.

The climate of fear still exists. The heads are still firmly in the sand. HISS (Head In Sand Syndrome) reaches epidemic proportions and still some foolishly believe keeping silent is the answer.

Go figure.

Never give in never give up.


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