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Cyprus developer Alpha Panareti named in MEP question

DEREK Roland Clark, MEP for East Midlands region has raised a question in the European Parliament concerning a complaint alleging misrepresentation and fraudulent dealings relating to property in Cyprus.

Question for written answer E-001031/2011
to the Commission
Rule 117
Derek Roland Clark (EFD)

Subject:       Properties in Cyprus

I have received a complaint about alleged misrepresentation and fraudulent dealings concerning new properties on Cyprus. A constituent of mine stands to lose very significant amounts of money and he quotes the dealings of an agent, Alpha Panareti, and a major Greek and Cypriot bank, Alpha Bank.

It would seem that other people are involved in this affair and are losing money. I wish to enquire as to whether this matter is known to the Commission and, if so, whether any action is being taken.

Further reading

Properties in Cyprus written question to European Commission E-001031/2011

Recourse and redress for citizens defrauded by property investment schemes in other Member States written question to European Commission E-002885/2011

Property problems in Cyprus: Alpha Panareti written question to European Commission E-003397/2011

About Derek Roland Clark

Derek Roland Clark is a British politician and Member of the European Parliament for the East Midlands region. He is a member of the United Kingdom Independence Party, first elected in 2004, and subsequently re-elected in 2009.

He is a retired science teacher.