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More North Cyprus Property Victims Face Eviction

More North Cyprus Property Victims Face EvictionYet another set of property scam victims anxiously await the outcome of the Kulaksiz 5 v Akfinans Bank Limited Appeal, heard on the 4th October 2016. There are many, many cases awaiting this important judgement which could create a precedent.

This appeared in the English language newspaper in north Cyprus and I note the reporter Kerem Hasan is the same reporter who has been covering the Kulaksiz 5 case and as always, does not mention who the bank is in this scam. Cyprus Today never mentions Akfinans Bank Limited either. Do the banks have such a strangle hold on the press as well as the Government?

cyprus-today

The banking industry should learn from these cases and I seriously believe there are some banks whose accounting would not survive a stringent honest audit by an independent body…my opinion only.

Does anyone know who the bank is in this case?

Pauline Read

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3 comments to More North Cyprus Property Victims Face Eviction


  • Hi Pauline
    Bank is The Universal


  • Pauline
    Ps the second group in the article. Don’t know about the first

  • Cyprus Sue

    Cyprus, North and South, have been plagued with the problem of developers taking out loans on homes that have been fully paid for by buyers. After many years of having no redress and often witnessing the loss of property we finally read about a successful case in the South.

    A €60,000 fine was imposed on Aelius Developers Ltd, following a complaint lodged by a customer of the company.

    According to the complaint, the company did not inform the property buyers of a pre-existing mortgage on the property, nor that this could cause problems in securing a title deed.

    The buyers further claimed that on the date they signed the purchase contract, the seller – Aelius Developers – did not possess the required town-planning and building permits. The commerce ministry’s Consumer Protection Service has slapped Alpha Bank Cyprus Ltd with a €250,000 administrative fine, having found that the bank engaged in unfair commercial practices at the expense of its customers.

    The commerce ministry’s Consumer Protection Service has also slapped Alpha Bank Cyprus Ltd with a €250,000 administrative fine, having found that the bank engaged in unfair commercial practices. Read all about the unfair contractual agreements, they are unbelievable!

    http://cyprus-mail.com/2016/11/08/alpha-bank-fined-unfair-practices/