Questions & Answers
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?

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