Law firm to pursue 67 advisers embroiled in Alpha Bank case

The case centres on land and properties developed by the Alpha Panareti company, owned by Andreas Ioannou, which used agents such as British IFAs to promote the investment in commercial property in Cyprus to investors in the UK. Panareti borrowed from Alpha Bank in Cyprus to fund the purchase and development of land on the island, and investors who wanted to invest in the properties were required to take out mortgages also from Alpha Bank. Investors were advised to take out the loans between 2005 and 2007 in the Swiss franc, which was low at the time compared to the euro and Sterling,...