Home / Business / Local Business / Cops looking into violent threats over repossessions

Cops looking into violent threats over repossessions

Police say they are looking into new death threats against MPs and bankers by an underground group calling itself ‘The Armed Group for Justice’.

So far, the group has only surfaced in anonymous threatening letters against MPs and bankers who they say are directly or indirectly involved in repossession of homes belonging to families unable to pay off their loans.

The latest threat was fired against “all banks but especially to the corrupt and supposedly human Cooperative Central Bank that sold itself to Altamira.”

Last month, a representative of a different Cypriot movement against property seizures on the island said members would escalate protests across the island in retaliation over the Cooperative Central Bank’s (CCB) merger with Spain’s Altamira Asset Management SS on non-performing loans (NPLs).

Protestors say Altamira have a reputation for seizing properties on a mass scale as a means to offsetting debts.

Police Spokesperson Andreas Angelides has stated that investigators are looking into the threats by the group calling itself ‘The Armed Group for Justice’.

“A complaint was made to police on September 6 about anonymous threats against bankers and MPs over their handling of repossessions. CID Headquarters is investigating to trace the culprit or culprits.”

Related stories:

The latest threat read, “Don’t even think about packing away a single home because we will act on what we previous warned. We will not be hold responsible for our actions. Do not play with fire.”

The letter goes on to describe parliamentarians as ‘pseudo-MPs’ and ‘criminals’ before claiming that they will “pay dearly for their betrayal” and that “parliament will become their graveyard”.

“With the single touch of a button, tourism, banking, investment, the Cyprus problem and the presidential election will come to a standstill…We have assembled are weapons and we will use them relentlessly and without mercy.”

“We are not terrorists so do not turn us into terrorists. This is in your hands. There are many other solutions.”

During the summer, state-owned Co-op said that a joint unit with Altamira would be set up and which would see 51% owned by the Spanish financial corporation and 49% by the Co-op.

In addition to managing €7.2billion in NPLs, Altamira will also be essentially responsible for the management of real property in the possession of the CCB, worth €400million, which resembles a similar agreement between Hellenic Bank and APS Holdings SA announced in January and implemented this month.

“We know the true motives of Altamira because they have a history of how they handle NPL operations in Spain and Portugal,” said Evgenia Moiseos, who is a representative of the ‘Movement Against Foreclosures’ – a group said to have no ties whatsoever with ‘The Armed Group for Justice’.

“They are not coming here with interest of those who have been affected from this crisis in mind. And I am talking about the unemployed, those with families.”

Check Also

Unemployment rate drops to 10.6% in Q2

The number of people out of work in the second quarter of 2017 was 10.6% …

European Commission team looking at Larnaca Port concerns

The EP Committee on Petitions (PETI) is conducting a fact-finding mission in Larnaca between Wednesday …