Akfinans Bank expect K5 residents to pay for their builders’ electricity

GAINESVILLE, FL - APRIL 15:  A breaker switch ...

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Many people are caught up in scam that is the Builder’s Electric tariff applied by Kib Tek. My understanding is that it was believed to be an incentive to get the builder to complete the Electricity Project. We all know how well thought out that plan was. Many builders did not complete the Project and walked off leaving the purchasers to pay the price. As is usual in the TRNC, the wrong people are being punished. There has never been a will on the part of Kib Tek, ergo the Government, to address this injustice, and so it has joined the list of property scams that grows daily. Just when you think there cannot be another way to ‘milk’ the poor unfortunate victims of the the ‘Property Scams’ a new one is found.

New laws have been heralded as being the ‘saviour’ of the building industry, but unfortunately, the unscrupulous just find new and more devious ways to usurp these laws. There is no confidence in the Building Industry in the TRNC – period. Until the public, make that the worldwide public, see some of these criminal activites being dealt with firmly, perpetrators of the many frauds being prosecuted and serving time, confidence will not return.

It is a sad but true fact that whilst the property industry is viewed so negatively, the Tourism industry will suffer the knock on effect.

This brings me to the latest outrage by Akfinans Bank Limited. Kulaksiz 5, after more than five years, is still on Builder’s Electricity Tariff. Akfinans are taking advantage of that fact to intimidate the already beleagured owners even more. As if living on a building site where debris is deliberately left lying in the road, where getting in and out of your driveway is being made as difficult as possible, where they have witnessed horrific scenes of men breaking in through windows, where the water supply is now in the hands of the bank, where taking a photo is threatened with criminal prosecution even when that photos is evidence of a crime, where the noise level from the builders is dawn to dusk 7 days a week, where workmen are wandering all over the site. It is not as if this were not enough but now Akfinans expect the residents to pay for the overpriced electricity the builders are using.

You and I would call that theft. Ertul Kader’s attitude when asked to pay was, if you don’t pay or our electricity then you will be cut off. Yet another form of intimidation. I would say that is the first incidence of financial intimidation, but of course, it is not. The act of taking all of the properties (they will say land only) as security for a mortgage is financial intimidation albeit without our knowledge until we registered our Contracts. Applying an interest rate of allegedly 250% inititally, later reduced by the court to 80% per quarter compound, a usury rate, a rate the Mafia would blush at. Causing us to spend every penny we have in legal fees to legally fight for our rights is another form of financial intimidation, hoping I suspect that we will run out of money to fight with.

I truly believe that the delaying tactics being used in the legal battle are in the hope that we will die before the end is in sight. There will be an end and justice will come, it would be nice if suddenly the TRNC Government would see the light and that they would realise that by allowing our agony to be prolonged they are also causing their agony to be prolonged. Every man woman and child in the TRNC are suffering the financial effect of what is happening in the Property/Tourist Industry because of this injustice, they deseve better, they elected you to do better, do not let them down further.

I fear that if Kulaksiz 5 have to wait for Justice through the European Court of Human Rights in Strasbourg, the TRNC will never recover and I for one, do not want that.

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