Let The Poor Pay: Wealthy Insiders Pulled Cash From Cyprus Before Confiscation

April 1st, 2013
Updated 04/08/2013 at 8:43 pm

Major corporate account holders and wealthy financial insiders were able to pull millions from Cyprus banking institutions in the days before the ‘surprise’ confiscation of funds from all Cyprus bank accounts by the government.

In the past it has been detailed how insiders were able to actively access their funds while the regular citizens of Cyprus sat in lengthy ATM lines that were preventing access to their own funds, but now even more information has come out that makes it extremely clear how major corporations and wealthy elite were fully informed of the event before it happened — operating under a window of around one week in which they withdrew their funds from Cyprus before the confiscations.

One major Cyprus-based website known as ‘Sigma’, which ranks as the 5th most visited website in Cyprus, has released documents that detail 132 different names of wealthy individuals (under certain holding companies and such) and mega business accounts that withdrew funds from Cyprus institutions up to 15 days before the scandal began. And these aren’t just regular transfer figures of a few thousand, or even a few hundred thousand. Millions upon millions were being shuttled from Cyprus out of the country.

Cyprus News Leaks List of Massive Withdraws

The list includes a company known as Loutsios & Sons Ltd, a major company whose owner is thought by Cyprus news sources to have a strong family connection with Cyprus President Nikos Anastasiadis. The company withdrew 21 million in funds from the Cyprus institutions before the government-run confiscation. The news agency has published the documented lists online detailing the massive withdraws that occurred before the scandal:

cyprus insider withdraw

The President himself also reportedly transferred his funds from the country, with a Greek independent news website ENET stating that the President’s family business  transferred ‘dozens of millions’ in finances from Cyprus accounts to safe accounts in London just 7 days prior to the confiscations that surprised averages citizens of the nation.

An act that really would not be surprising when considering that if the President were he to subject himself to the same level of confiscation as the average citizens, he could stand to lose his entire fortune under his own regulation. Given the very nature of the entire confiscation event, in fact, it should not really be surprising that financial insiders would take advantage of the situation by withdrawing their own funds and letting the average citizens foot the bill. After all, it is what the Cypriot government was doing in the first place by paying for its debts with private funds leeched from consumer accounts.

The simple fact is that this will continue unless citizens decide to do something about it. It’s also important to understand that this can and will happen in other nations, especially those (which could be a chain effect) hit with serious incidents of financial turmoil. Depending on how well the banksters that operated this confiscation scandal and made themselves immune through insider information get away with the Cyprus scandal will determine the depth of the next incident. If the people decide enough is enough and get privy to the ruthless nature of the banksters today, we could see the problems end (or at least mitigate) tomorrow.

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Category: Finance

About the Author ()

Google Plus Profile Anthony Gucciardi is the creator of Storyleak, accomplished writer, producer, and seeker of truth. His articles have been read by millions worldwide and are routinely featured on major alternative news websites like the infamous Drudge Report, Infowars, NaturalNews, G Edward Griffin's Reality Zone, and many others. He is also a founding member of the third largest alternative health site in the world, NaturalSociety.com.

Comments (4)

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  1. anonymous says:

    What can we expect from EU bankers.

  2. Very great post. I simply stumbled upon your weblog and wished to mention that I’ve really loved surfing around your blog posts. In any case I’ll be subscribing to your feed and I’m hoping you write again soon!

  3. It only shows the discrimination between the poor and wealthy people in the Cyprus. It would be more reasonable if they do the other thing. Inform those poor in what will happen and forget those rich people.

  4. wendyRheaT says:

    I wonder why I am not surprised at hearing about this. Maybe because the wisest people always think one step ahead than the rest of the population? I really hope I made the right choice when acquiring financial services from http://www.globalcheckrecovery.com/resources/. But it is just that I have seen so many people happy with these financial solutions, I had to try it too.

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