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Misuse of a power of attorney granted to manage a bank account

I am a foreigner and have a permanent residency in Cyprus.

I had an account in the Hellenic Bank. Because I was busy out of Cyprus, I gave a power of attorney to my friend to take care of my account by signing bank documents in this respect.

After a while, I went to my bank to check my account. Unfortunately, I saw that she transferred all of my money to her own account without any permission or informing me.

I thought that because of the power of attorney that I have given to her, she had this right to transfer the money. But recently I thought, although she had my power of attorney, she had no right to transfer my money to her account.

What will be the result at the court if I ask to return my money?

إيه. جي. بابيتيس وشركاه
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توظيف
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25 Aug 2018, 17:36

Dear Sir

Issuing a power of attorney to any person in order to manage things on your behalf does not give him/her the right to spend your money.

Certainly, you can claim this money back from her and you should also report the matter to the police; this is criminal too.

We shall be happy to assist you, please contact me at Angelos.paphitis@agplaw.com.

Thank you.

Sincerely yours,

Angelos

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