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Offer to buy up Cyprus savings accounts appears ripe for fraud
“Will buy your Cyprus savings account!” was a widespread offer made via email following the recent events in the Cyprus banking sector. According to several sources, Russians keep around USD 20 billion dollars in savings accounts in Cyprus. At this time, all Cyprus accounts above EUR 100,000 have been frozen, while depositors actually may only access one tenth of their savings. Can the generous offer to buy up accounts be trusted? Vesti FM correspondent Alexander Pisarev got to the bottom of the matter.
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The proposed scheme does give rise to a number of questions, believes Andrey Ageshin, a partner at ART DE LEX law firm.
“In addition to not containing any responsibility, the offer does not even assume any such responsibility for the return of even part of investments left in Cyprus; and it does not contain any provisions on liability or even divulge the procedure for returning these funds. In my opinion, this scheme cannot be trusted”.
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Depositors with savings in Cyprus bank accounts do have other tried and true methods by which the may receive their money, notes Mr Ageshin: “In this situation, a depositor would be wise to seek the advice of a well-established and reputable law firm that already offers advice on obtaining money frozen in a Cyprus account”. It was announced this week that savings accounts in excess of EUR 100,000 will remain frozen until at least September, reports Vesti FM on its website in Russian: http://radiovesti.ru/article/show/article_id/88861
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The proposed scheme does give rise to a number of questions, believes Andrey Ageshin, a partner at ART DE LEX law firm.
“In addition to not containing any responsibility, the offer does not even assume any such responsibility for the return of even part of investments left in Cyprus; and it does not contain any provisions on liability or even divulge the procedure for returning these funds. In my opinion, this scheme cannot be trusted”.
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Depositors with savings in Cyprus bank accounts do have other tried and true methods by which the may receive their money, notes Mr Ageshin: “In this situation, a depositor would be wise to seek the advice of a well-established and reputable law firm that already offers advice on obtaining money frozen in a Cyprus account”. It was announced this week that savings accounts in excess of EUR 100,000 will remain frozen until at least September, reports Vesti FM on its website in Russian: http://radiovesti.ru/article/show/article_id/88861