preview

Sycamore Bank Fraud Case

Good Essays
This item was referred by VFA (Valic Financial Advisors) that Michael Bocskey (The Client) has alleged an unknown person has committed fraud against his account by changing the banking instructions and requesting an Electronic Funds Transfer (EFT) for $6,000.00 to be sent to Sycamore Bank. CASE HISTORY The Client purchased a brokerage account with a transfer from First Energy Corp for $447,000.00 on October 11, 2005. The company received an EFT request in the amount of $6,000.00 from an Individual Retirement Account to a joint bank account on Client’s file at Huntington Bank account number 041000153 and routing number 02660466338. VFA Operations notified the agent that a Standing Payment Instructions was required to establish the EFT link and process the funds to a joint bank account. Later that day, the company received Standing Payment Instructions to add Sycamore Bank account number 4518049 and routing number 084202086 with an electronic signature for Michael J Bocskey.…show more content…
The agent informed the Client based on their email conversations, he requested the Company to change the banking instructions to Sycamore Bank and the funds had been processed. The Client stated he had not requested any change from Huntington Bank to Sycamore Bank nor had he had email conversations with the agent. The agent confirmed his Client’s email address and stated he would notify his District Manager (DM) and Sycamore Bank to freeze the
Get Access