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TRNC land purchase scam

TRNC land purchase scam

April 05
15:07 2013

An agent hired to purchase land in the TRNC from a Greek Cypriot has vanished.

Mustafa Gazi left his house in Akincilar 5 days ago and has not been seen since. There are claims that a fraudulent transaction is linked to his disappearance.

Allegedly, the owners of Cratos Hotel in Kyrenia wished to purchase an adjoining plot of land which was originally Greek owned. Mustafa Gazi was hired as intermediary in the deal for a fee of £30,000. During the negotiations, £150,000 deposit for the land was paid to Mr Gazi to pass on to the Greek owner.

Originally, the asking price for the plot of land was £4,000,000 but this was finally settled at £950,000.

Once, the deposit and agent’s fee had been paid to Mr Gazi, the Greek owner could not be contacted; consequently, the owners of Cratos Hotel demanded the return of all monies from Mr Gazi.

The £30,000 was returned but it was claimed that the Greek owner had taken the £150,000 and fled.

These events have led to the suspicions that this is more than a simple disappearance.

 

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