A tourism project that has stood still for almost twenty years has drawn the internationally unrecognized Turkish Republic of Northern Cyprus into scrutiny surrounding Turkey's investment-fund crisis. In three reports for Havadis Kıbrıs, journalist Nazar Erişkin follows the corporate trail to Akanthou/Tatlısu, where promised investment, public land and unanswered questions now sit alongside reports of residents losing savings. By The Levant Files 3 October 2026 How the Crisis Reached Cyprus Turkey's Capital Markets Board, known as SPK, has put numbers to the crisis. Its 23 September announcement confirmed liquidation decisions covering 131 funds belonging to seven portfolio-management companies. They held investments from 455,758 individuals. The warning signs came earlier. In its 18 September explanation of its regulatory preparations , SPK said it had observed fund-driven price movements during late 2025 in shares with limited public float that cou...