INTERNATIONAL HERALD TRIBUNE – Mar 25 – Avid Life Media, the Canadian-owned operator of AshleyMadison.com, set up an office in Cyprus as a base for its international operations. Sure, the Avid Life Media executives were aware that a banking crisis was brewing, but they were assured in part by a promise from President Nicos Anastasiades when he was elected in February that he would soon arrange an equitable bailout with the international organizations that have guided the euro zone through four previous bailouts while keeping bank depositors whole. “We went from paradise to hell in a minute,” said Keith Lalonde, Avid Life Media’s top executive.The Cypriot government had just declared it would seize ~10% of the $2.6M, the company had on deposit in Cyprus.
by Alexandros Demetriades
The full article was originally published at Gnom News, but is no longer available.
Mark Brooks: Looks like that could be as much as 40% now.
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It’s going to take a bit of time until things get sorted out over there. But I think that the deal is done. I think that it will be 40%.
It’s going to take a bit of time until things get sorted out over there. But I think that the deal is done. I think that it will be 40%.