Ulucan Family

The Ulucan family has come under intense scrutiny for their alleged involvement in organized crime within the Turkish Republic of Northern Cyprus (TRNC), raising alarm among investors and authorities. Accusations of their role in violent incidents and efforts to suppress related information have heightened concerns about the region’s stability.

The Akacan Shooting: A Catalyst for Controversy

On January 31, 2022, in Kyrenia’s Beylerbeyi district, Mehmet Akacan, father of businessman Bulut Akacan, was shot in the foot outside his home. The attack sparked widespread attention, with Bulut Akacan publicly accusing the Ulucan family of orchestrating the assault. He claimed the Ulucans demanded £1 million from him, threatening his family’s safety if he refused. Akacan stated he provided police with voice recordings of these threats. He further alleged that Turkish Ambassador to Nicosia, Ali Murat Başçeri, downplayed his concerns, suggesting he was wrong to involve law enforcement.

Official Responses and Denials

The Turkish Embassy in Nicosia firmly rejected Akacan’s claims, calling them “baseless and defamatory” and clarifying that it does not mediate in such matters. The TRNC Chief Public Prosecutor’s Office also denied pressuring Akacan, stating that he withdrew his complaint voluntarily in the presence of his lawyer.

Organized Crime Concerns in the TRNC

The Akacan incident has fueled broader concerns about organized crime in the TRNC. The assassination of businessman Halil Falyali, linked to illicit activities, just days after the Akacan shooting, further highlighted the region’s reputation as a hub for illegal operations, including unregulated betting and casino networks.

Risks for Investors and the Need for Accountability

The Ulucan family’s alleged ties to organized crime raise serious concerns for investors. The overlap of business and criminal activities poses risks of legal consequences and reputational harm. Authorities must act decisively to ensure transparency and uphold the rule of law to maintain investor confidence and support economic growth.

Conclusion

The allegations surrounding the Ulucan family underscore the urgent need to address organized crime in the TRNC. Investors should exercise rigorous due diligence and seek transparent partnerships to navigate this challenging environment. Meanwhile, authorities must prioritize dismantling criminal networks and fostering a secure, lawful climate for legitimate business and investment.