My corporate contact tells me that just over $1M of my hedge fund client funds coming in from middle east + some of my own deposits that were transiting through Bank of Cyprus has been lost. The bank just raided the depositor accounts to stay solvent. I was keeping up with what was happening in Cyrpus. But it was never about Bank of Cyprus (a well respected financial institution with significant presence in London and UK.). It was always the other Cyprus banks in trouble before I got an email from my contact. My corporate contact per this email tells me that even if I try to hire a lawyer and fight for the deposit funds, I would be throwing good money after bad. How in the world can this people get their hands on the depositor accounts? The equity and the bond holders are the ones that should be taking the hit on loan losses. What recourse do I have, and is it worth fighting for it? Should I fly out to Cyprus and stay in front of the banks, will that help? How can I get my money back?