Reply by Devere Group

deVere Group re-structured its European operations some years ago. This included the decision to reduce our presence in a number of countries, and instead, choosing to passport in to all European countries from our hubs.

This strategy has been very successful and we continue to provide excellent service for our clients in Western Europe and across the globe, from our 70 worldwide offices.

As a company, deVere continues to grow at exceptional pace and has recently announced its latest office based in Auckland, New Zealand.

The operation run by this firm in Cyprus was via their office in Belgium. That had its licenced annulled and thus the Cyprus operation closed.

Some of the unqualified staff moved to India, UAE and other unregulated jurisdictions. Others stayed in Cyprus moving into other salesman roles, using the sales tactics learnt during their week long Malta training course. Normal story, high front loaded commissions with the promise of great returns.

Fleece the consumer - who cares about them! After the operation was unlicensed they still brought over the next boat load of cowboys, one of whom was a used car salesman a month before.

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