Bank Fraud

[Rebecca77]

What is the name of your state (only U.S. law)? Colorado

About eight years ago a relative sold some land here in town and up in the mountains for millions. My husband and I gave him some money to hold him over until he received his money. There has been one problem after another with the relative getting his money.

To make a long story short (hopefully), there were two very well known banks that the relative had his money in. The banks were not giving the very high interest rate (at that time) that he should have been getting, they were giving a much lower one instead, and they got caught. I believe the banks did some other things, but I can't remember.

My husband is the POA of the relatives estate ( only because the relative is not good with money). Up until three years ago we would get updates on what is happening, but now we hear nothing. He says the judge ordered him to say nothing. Does that sound right? Not knowing anything is what's making this so hard. The Attorney General and FDIC have been involved, and it has been to every court there is. The last we heard, the banks have exhausted all of their appeals. I have my own theory that it went into ligitation (?) would that happen before or after the exhausted appeals? The banks have admitted to wrong doing, so what is the hold up? Does anyone have any idea what's going on and when we can expect this to end?

I know you should never lend money to a relative, and that's not what this is really about. It's about the lack of information were are getting. We have seen a printed out copy of court minutes ( guess that's what you call it) we have gotton emails from his lawyers and the Attorney General. So why is everything a secret now?

Thank you in advance

 

[Zigner]

How much was the loan? What was the written agreement regarding the loan? If hubby is PoA for the relative, that doesn't mean the relative has to tell him anything, nor does anybody else. What, exactly, is your question? If your sole question relates to the delays and secretiveness of those involved, then there's no way any of us could answer.

What is the name of your state (only U.S. law)? Colorado

About eight years ago a relative sold some land here in town and up in the mountains for millions. My husband and I gave him some money to hold him over until he received his money. There has been one problem after another with the relative getting his money.

To make a long story short (hopefully), there were two very well known banks that the relative had his money in. The banks were not giving the very high interest rate (at that time) that he should have been getting, they were giving a much lower one instead, and they got caught. I believe the banks did some other things, but I can't remember.

My husband is the POA of the relatives estate ( only because the relative is not good with money). Up until three years ago we would get updates on what is happening, but now we hear nothing. He says the judge ordered him to say nothing. Does that sound right? Not knowing anything is what's making this so hard. The Attorney General and FDIC have been involved, and it has been to every court there is. The last we heard, the banks have exhausted all of their appeals. I have my own theory that it went into ligitation (?) would that happen before or after the exhausted appeals? The banks have admitted to wrong doing, so what is the hold up? Does anyone have any idea what's going on and when we can expect this to end?

I know you should never lend money to a relative, and that's not what this is really about. It's about the lack of information were are getting. We have seen a printed out copy of court minutes ( guess that's what you call it) we have gotton emails from his lawyers and the Attorney General. So why is everything a secret now?

Thank you in advance

 

[latigo]

What is the name of your state (only U.S. law)? Colorado

About eight years ago a relative sold some land here in town and up in the mountains for millions. My husband and I gave him some money to hold him over until he received his money. There has been one problem after another with the relative getting his money.

To make a long story short (hopefully), there were two very well known banks that the relative had his money in. The banks were not giving the very high interest rate (at that time) that he should have been getting, they were giving a much lower one instead, and they got caught. I believe the banks did some other things, but I can't remember.

My husband is the POA of the relatives estate ( only because the relative is not good with money). Up until three years ago we would get updates on what is happening, but now we hear nothing. He says the judge ordered him to say nothing. Does that sound right? Not knowing anything is what's making this so hard. The Attorney General and FDIC have been involved, and it has been to every court there is. The last we heard, the banks have exhausted all of their appeals. I have my own theory that it went into ligitation (?) would that happen before or after the exhausted appeals? The banks have admitted to wrong doing, so what is the hold up? Does anyone have any idea what's going on and when we can expect this to end?

I know you should never lend money to a relative, and that's not what this is really about. It's about the lack of information were are getting. We have seen a printed out copy of court minutes ( guess that's what you call it) we have gotton emails from his lawyers and the Attorney General. So why is everything a secret now?

Thank you in advance

I suppose the reason why "everything is being kept secret from you" is because the affairs between the relative and the "well known banks" are none of yours or your husband's business!

Furthermore your husband is NOT the POA for the relative's estate! Even if the relative were deceased, he could not be the POA of the relative's estate.

The relative may have granted him a power of attorney, but that does not, per se, make him privy to the relative's financial portfolio. Nor does the status of creditor of the relative entitle him to that financial information.

And people do not have "trouble" getting money from banks that hold credits in their name. Not unless the accounts are somehow seized/frozen by legal attachment or levy.

If you want the loan repaid, then sue the relative, seek a money judgment for the amount due and owing and garnish his bank accounts.

But you better have a look at the applicable statutes of limitation because, depending on intervening events or the lack of them, the lawsuit could be barred after 8 years.

Best of all talk to you lawyer. I think the relative is giving you two the double shuffle with this "the bank won't give me my money" rubbish.