Cyprus, Nicosia

In Lefkoşa, businessman arrested for transferring six company properties to wife and daughter without partner consent

27.08.2025 / 14:18
News Category

Entrepreneur Nazım Erçika was arrested in Lefkoşa in connection with a case of misappropriation of company assets after, according to police, he transferred six company properties to his wife and daughter at the beginning of the year without the partner’s consent.

According to the police, presented in court by officer Doğcan Kırgeç, the alleged transfers of real estate and all shares of these properties occurred between January 6–8, 2025. The partner, identified by the initials A.M., did not give consent, the report states. Erçika was summoned to the Lefkoşa investigative department on August 26 and admitted during questioning that he had transferred the properties to his wife and daughter.

The police reported that additional testimony and document review of the transactions are required to complete the investigation; the prosecutor requested a two-day detention. By the decision of Judge Şevket Gazi, Erçika was held in custody for 48 hours.

For local entrepreneurs and property owners, this case highlights the importance of formalizing corporate rights and transparent procedures for asset transfers: in transactions involving company-owned real estate, written consent of all co-founders and thorough documentation of transactions is required.

Only registered users can leave comments. To comment, log in to your account or create a new one →