Israeli Simon Mistriel Aykut, the director of Afik Group, a property developer in the north, will remain in custody for an additional six days, as decided by the Nicosia District Court on Thursday.

Aykut, 73, who holds both Israeli and Portuguese passports, faces charges related to a €1 billion development project in Trikomo on Greek Cypriot property.

He was arrested last week while attempting to cross from the state-controlled areas to the north in the Paralimni area.

Police requested the Nicosia District Court issue a new detention order for the 73-year-old for a period of six days, which was approved.

Two other individuals are still wanted in the case: Aykut’s sons, 51-year-old Afik Yaacov and 49-year-old Michael Mistriel Aykut, both directors of the group. Like their father, they hold Israeli and Portuguese passports.

All three are suspected of five offences: conspiring to commit a felony, conspiring to commit a misdemeanour, fraudulent transactions in real estate property owned by another, unlawful possession, possession and use of land registered to another, and conspiring to commit embezzlement.

The 73-year-old is identified on Facebook as the founder of the Afik Group of companies. This construction organisation initiated the Caesar Project, which includes developments such as Caesar Blue, Caesar Beach, Caesar Breeze, Caesar Bay, Caesar Cliff, and Caesar Resort, all on parcels of land in Gastria, Akanthou, Ayios Amvrosios, Kyrenia, and Trikomo.

Greek Cypriots testified against Aykut, claiming they did not give consent for the development of their properties.

Additionally, two individuals from a European country bought a house in Gastria, Famagusta, for €235,000 and testified to the police that they were not given a title deed.

Aykut’s company was alleged to be represented by the law firm of the former head of the bar association, Christos Clerides.

The 73-year-old’s arrest follows a clamp down by the Republic’s authorities on property buying in the north.

Previously a Turkish-Cypriot lawyer Akan Kursat was arrested in Italy on an EU arrest warrant for facilitating property sales in Klepini, Kyrenia, for British con-man Gary Robb.