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Pauline’s Opinion | ‘No Decent Government Will Allow This To Happen’

'No Decent Government Will Allow This To Happen'WITHOUT PREJUDICE

It is five years to the day that the unthinkable happened and Akfinans Bank Limited were allowed not only to auction our villas on the Kulaksiz 5 site in Karsiyaka, but also allowed to buy them. How does that work?

At the time the bank were protesting they owed it to their account holders to recoup the money they lent out to two very bad risks, the landowner of K5 Mr Yuksel Yilmaz a lifelong friend of the bank manager/owner of the branch that advanced the loan and the builder Mr Abdurrahman Guney. A loan of just over 83,000 lira (£22,000) at today’s exchange rate. The application of 250% interest and later 83% per quarter compound saw this small loan escalate to 2,077,000 lira (£546,579) at today’s exchange rates. Who thinks that anyone who will sign up to a loan with those interest rates is either party to a scam….or….should not be let out alone?

Yes the bank did write out a cheque to cover the 2,077,000 plus an additional 100 lira and costs….but and there is always a but….the bank wrote the cheque, paid it over to the Tapu…the tapu deducted the cost of the auction and then issued a cheque for the residue back to the bank. In other words the money went out of the front door and most of it, plus all the properties on the K5 site (15 in total) went back into the bank through the back door. Not a bad return for the initial loan of 83,000 lira. If you think it stinks, I cannot disagree with you.

I can remember at the time thinking, it will not happen. No decent government will allow this to happen, this is the 21st century, it is barbaric. It did happen and still we are fighting for justice.

To rub salt into my personal wound, the bank broke into and took my villa even though the case was and still is being
disputed in court, and even though in north Cyprus it is an illegal act without a court order. Then, they proceeded to turn my villa into a palace/fortress in which they ‘play’ at weekends. The police’s response to this break in and vehicular attack on my partner, was to threaten to arrest me and mine for trespass if we dared set foot in our own garden. Seems everything is for sale in north Cyprus.

We now find that in the opinion of Judge Talat Usar, in his findings of the 4th December 2014, the mortgages put on our villas were fraudulent. The bank have appealed this ruling and obtained a stay of execution on the ruling. Six months later, we are still waiting for the appeal date. So the wholly cynical move of transferring my property into the name of a third party, who just so happens to be the father in law of the very man who authorised the loan and one of the owners of Akfinans Bank Limited, is just another fraudulent act in my opinion.

Will we live to see the end of this or is the alleged strategy of outliving us a master stroke?

http://northcyprusfreepress.com/cyprus-property/this-is-what-happened-at-akfinans-bank-north-cyprus-auction/

Pauline Read

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11 comments to Pauline’s Opinion | ‘No Decent Government Will Allow This To Happen’

  • fluter

    “No decent government will allow this to happen”.

    Reminds me of Diogenes (No, not Miltiades!), I can picture him walking the streets of Girne with a lighted candle in broad daylight, saying “I am looking for a decent government”!

    OK, I’ll get my coat.

  • Polly Marples

    Oh dear, you have left the door open for me to say something I could get a writ for, if I existed lolx

  • Miltiades

    ” No decent government will allow this to happen, this is the 21st century, it is barbaric.”

    Its perfectly …. appropriate for a pseudo government that no nation on earth recognizes !!

  • Polly Marples

    And yet oddly, Mr A from south and Mr A from the north are spending so much time together both politically and socially….seems they acknowledge each other very amicably.

    Wake up and smell the coffee Mutley. It looks as if as, at long last, peace might be about to break out.

  • Miltiades

    We have come to these same crossroads many times. As long as the occupying power insists on guarantor rights over the entire island, NO solution will ever be negotiated.

    The T/Cs are themselves pretty fed up with Turkey, they will sooner or later elect who their motherland really is and its none other than Cyprus. The G/Cs too will wake up and embrace the island of Cyprus, as I have, as their ONLY motherland. To hell with Turkey, to hell with Greece.

  • fluter

    Is there anyone, I wonder , who believes there will ever be an appeal date?

    I couldn’t help but wonder why Talat Usar all of a sudden found against the bank? Maybe this is their way of simply keeping things going, although going nowhere.

    Disgraceful!

  • Polly Marples

    Yes…all very odd. There had better be an Appeal, the advocate who said the initial fee was it, no matter what…touched us all up for a lot of money ….a lot….despite pocketing 20,000 lira (costs awarded to our side)or this Appeal and he hasn’t finished yet…there will be more to pay.

  • Polly Marples

    for this Appeal.

  • fluter

    What happens if the case goes to appeal and the bank wins?

    Does the advocate have to repay the costs he pocketed?

  • Polly Marples

    Oh no fluter, that money is well spent by now. No he will expect us to pay any costs awarded by the court to the bank and the ECHR will be the next step.

    If however, we win…any costs awarded to us will be pocketed by the advocate…again…good innit.

    I cannot get excited either way. If we lose…more expense…if we win more expense because all we will have won will be the right to start all over again and be party to the case AKFINANS BANK LIMITED v Yuksel Yllmaz and Abdurrhman Guney, when the bank will ask for the right to take our villas…..YOU COULD NOT MAKE IT UP.

  • fluter

    You certainly could not! Everything so corrupt and crooked.

    Best thing I ever did was get out while the going was good.