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  1. #1
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    asking the community's opionon and feedback thanks

    I have client tell me they had a broker try to get them funding and who ended up stealing $20k out of his account

    My client allowed access to this account only to download necessary docs and states for a potential almost $250k in working cap funding they were in the process of orchestrating for him.

    I personally advised first thing you do is change passwords immediate after ---to close it off - which he negated to do.

    However this broker had two people within the organization commissioned wired themselves a total pf $20k from his account.

    What is the best way to get this client his money back -if he could -- and what are the legal ramifications this broker will face when my client brings this incident to the authorities.

    They asked me if I could find out from my industry colleagues - yourselves -- as to what his options are in resolving this matter or is he SOL?

    Thank you for your replies on behalf of my client for your feedback
    Last edited by G2efunding.com; 09-18-2022 at 04:35 PM.

  2. #2
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    He could and should report wire fraud to his banker and ask them to recall it, to insist on reporting it to the receiving bank's fraud department as well and to follow up with the FBI. Wire fraud is a federal crime, and that's how they got the Gambinos. The nice part about wires is that they are 100% traceable. Does he have a wire receipt? Did they do an international wire? How did they get the wire past the fraud department in his current bank? (Normally banks red-flag these transactions, especially large ones and especially if they're international.) Do the brokers have contracts that they are owed that money, or they did outright theft? There's a paper trail, should be easy enough to follow.

  3. #3
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    Hope your well Micah thanks - question? if he gave them the password access under the premise of allowing them access to ONLY the info they need to round off the paperwork for the loan and even if he didn't change his password - would that mean he is in the wrong by giving them access? or either way you cannot simply under any conditions help yourself to a clients money without authority or claims? I would assume not ---or is it a situation - YOU OPENED YOUR ACCOUNT TO BROKER ITS YOUR FAULT scenario?

  4. #4
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    He might be to "blame" for "letting it happen", but that's explicitly blaming the victim. You cannot steal someone's car because they left the keys in the ignition. What matters for the paper trail is receiving bank info, contracts, IP addresses, where the money was sent, call recordings, text messages/emails, etc. Whether they forcibly broke into the bank account or had his password another way, it really doesn't matter.

  5. #5
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    Quote Originally Posted by abfunders View Post
    He could and should report wire fraud to his banker and ask them to recall it, to insist on reporting it to the receiving bank's fraud department as well and to follow up with the FBI. Wire fraud is a federal crime, and that's how they got the Gambinos. The nice part about wires is that they are 100% traceable. Does he have a wire receipt? Did they do an international wire? How did they get the wire past the fraud department in his current bank? (Normally banks red-flag these transactions, especially large ones and especially if they're international.) Do the brokers have contracts that they are owed that money, or they did outright theft? There's a paper trail, should be easy enough to follow.
    Hope your well Micah thanks - question? if he gave them the password access under the premise of allowing them access to ONLY the info they need to round off the paperwork for the loan and even if he didn't change his password - would that mean he is in the wrong by giving them access? or either way you cannot simply under any conditions help yourself to a clients money without authority or claims? I would assume not ---or is it a situation - YOU OPENED YOUR ACCOUNT TO BROKER ITS YOUR FAULT scenario?

  6. #6
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    Quote Originally Posted by abfunders View Post
    He might be to "blame" for "letting it happen", but that's explicitly blaming the victim. You cannot steal someone's car because they left the keys in the ignition. What matters for the paper trail is receiving bank info, contracts, IP addresses, where the money was sent, call recordings, text messages/emails, etc. Whether they forcibly broke into the bank account or had his password another way, it really doesn't matter.

    thank you I will let my client know

  7. #7
    Senior Member Reputation points: 66298 Olderguy's Avatar
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    The banks have a process and procedure for handling this....they can advise your client and also the authorities.
    Steve Benjamin
    Professional Business Loans

    1012 Contessa
    Irvine, CA 92620
    steveprobiz@gmail.com
    https://probizloans.net/
    Broker, Underwriter, general business loan expert
    949.228.1050


    @ 24 hour funding working capital loans
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