Potential Fraud

General questions & discussions on Cyprus property related matters
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londonbased
Posts: 2
Joined: 08 May 2020 01:58

Potential Fraud

Post by londonbased »

I have a concern that an elderly relative is being defrauded in London. He has a number of assets in Cyprus and a lady is taking steps to register a Cypriot PoA in the UK to transfer over his assets to herself in Cyprus.

Does anyone know what can be done about this - I have reported my concerns to the UK authorities, but I am unsure how to proceed in a different jurisdiction. I plan on reporting my concerns to the Cypriot authorities, but I am also wondering if there are any civil actions that can be done to prevent any transfers going through pending investigations.

Any thoughts would be much appreciated.
Pantheman
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Joined: 26 Jan 2008 14:44
Location: Famagusta District
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Re: Potential Fraud

Post by Pantheman »

londonbased wrote: 08 May 2020 02:05 I have a concern that an elderly relative is being defrauded in London. He has a number of assets in Cyprus and a lady is taking steps to register a Cypriot PoA in the UK to transfer over his assets to herself in Cyprus.

Does anyone know what can be done about this - I have reported my concerns to the UK authorities, but I am unsure how to proceed in a different jurisdiction. I plan on reporting my concerns to the Cypriot authorities, but I am also wondering if there are any civil actions that can be done to prevent any transfers going through pending investigations.

Any thoughts would be much appreciated.
Hello Londonbased,

I am not sure what you mean when you say ' .... to register a Cypriot PoA in the UK ', since there is no such mechanism. To get a PoA, to do anything in Cyprus, they need to go to the Cyprus High Commission together with your elderly relative and sign the PoA in their presence. They then notaries it.
All PoA have to be Notoriesed , she cannot just forge a signature.

If this lady did this, this would be a criminal action, and if you can prove this then the police is the place to go, but how would you prove it unless she had a PoA with a forged signature on it??

Are the assets all in one district?? You could call the land registry of that district and voice your concern (have a list of the assets to hand and the passport, they was used to purchase them).

Its not easy to transfer another's property the land registry is quite strict here in Cyprus.
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londonbased
Posts: 2
Joined: 08 May 2020 01:58

Re: Potential Fraud

Post by londonbased »

That's noted; thank you.

All of the assets are in one district.

We believe she is committing fraud as he has already handed over £s of pounds to assist her with problems that she has stated she has (that we have evidence she has fabricated).

There is no reason for him to sign over his assets, so we are now investigating the reasons why (but investigations are slightly delayed given lock-down). I will explore this further.

Thank you for your guidance.
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