Monday, April 1, 2013

Mega-Rich Withdrew Money From Cyprus Before Looting

Mega-Rich Withdrew Money From Cyprus Before Looting

In addition, as Reuters reports, “While ordinary Cypriots queued at ATM machines to withdraw a few hundred euros as credit card transactions stopped, other depositors used an array of techniques to access their money.”

Branches and subsidiaries of Cypriot banks in London and Russia remained open while banks in Cyprus were closed, allowing Russian oligarchs and other wealthy depositors to move their money.