North Cyprus Property Buyers Discover Title Deeds Illegally Transferred

North Cyprus Property Buyers Discover Title Deeds Illegally TransferredNorth Cyprus Property Buyers discovered that the Title Deeds of their property had been illegally transferred to a company called Yaztech Investment Ltd without the original purchasers’ knowledge, it was claimed. Investment İnşaat Ltd director and founder Mehmet Eminoğlu and Serdar Özbekoğlu, a certifying officer, were both remanded in custody by Girne District Court accused of fraud.

Architect Muammer Uğursöz, said to be the director of Yaztech Investment, was also arrested on charges of making a false statement to police after initially claiming that he had paid Mr Eminoğlu 600,000TL for two flats. Sixteen flats worth a combined total of £1.7 million had been signed over to Mr Uğursöz’s firm using fake documents, a report in the TRNC daily Kıbrıs said, but detectives were only able to trace £112,000 that had been paid out from its accounts. Mr Uğursöz “was unable to explain to police” how the 16 properties came into his possession, the paper said.

Giving evidence at a hearing at Girne District Court, police officer Halil Drangoz said that he and his colleagues had identified, in all, 19 apartments and four shops whose title deeds had been fraudulently transferred.

A total of 44 “fake” power of attorney letters were discovered by police, the court heard, including those found on a computer belonging to Mr Eminoğlu, who also owns property firm M.Eminoglu Investment.

Complaints have so far been received from at least 18 individuals, Drangoz told the court, warning that he expected more to come forward. Three other suspects wanted in connection with the alleged fraud have “escaped overseas”, the police officer added.

Meanwhile two members of staff from the Land Registry office in Girne – Türkan Dayı and Vedia Vaizoğlu – have been released on bail pending trial. A third employee arrested, Özlem Akdağ, was later released without charge after police said she was not connected to the case.

Girne Land Registry staff walked out in protest following their colleagues’ detention and then held a half-day strike a week later on Thursday, 15 August.

Source: T-Vine

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