Questions & Answers

Ask a lawyer
All cities, Cyprus

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?

A.G. Paphitis & Co.
Chat
Hire
Meet
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

Get quotes from lawyers
Find the right lawyer for your legal needs. Submit your request and get multiple competitive offers from qualified lawyers.
Looking for something else?
Ask for advice from a lawyer
It’s free and anonymous
No registration needed
Ask a lawyer