I would not necessarily call this a SDB as it was a private firm and not a bank. The issues raised are troublesome but there is usually more to the story than meets the eye.
sounds like they screwed up! If all of this is true, the FBI will be dishing out some cash.
Things to keep in mind: we don’t know the scope of the search warrant, we have no clue who “Dr. R” is and we don’t know the story behind the investigation. I guarantee this journalist doesn’t either.
What happened to the fourth amendment concerning illegal search and seizures? It’s a black eye for the FBI for sure.
There may have been illegal stuff in some of the safe deposit boxes, but that does not give the government to the right to seize of the legal property of citizens who were not involved in the wrong doing.
Retired dealer and avid collector of U.S. type coins, 19th century presidential campaign medalets and selected medals. In recent years I have been working on a set of British coins - at least one coin from each king or queen who issued pieces that are collectible. I am also collecting at least one coin for each Roman emperor from Julius Caesar to ... ?
Certainly, from the article, it would appear the FBI exceeded the terms of the warrant. That being said, they will likely settle out of court for a minor fee and court costs. Cheers, RickO
Some banks have safe deposit box agreements which limit safe deposit box losses to $25,000 per customer and ask that customers not store bullion coins in boxes.
The FBI had to safeguard the contents of the boxes. To do so, there typically is an inventory. It appears they videoed everything to cover their backside. They couldn't just leave everything unsecured.
From the information presented there is no way to make a legal determination of whether an error was made, and if so, what the legal remedy would be for the error.
Why do I feel like I'm only getting one side of this story? Note to self: when you put all of your retirement savings into a bank vault or SDB... make certain it's an actual bank.
Collecting: Dansco 7070; Middle Date Large Cents (VF-AU); Box of 20;
A clear abuse of government powers. Unfortunately, what remedy does the person really have? Yes, I realize they are supposed to have legal recourse, but we've seen in recent years how that works (it doesn't).
While this example was a private firm... you may not be that much safer in a bank. There have been multiple examples of individuals having seizures taking place there also. And.. if the bank gets shut down for some reason... good luck in even getting access to your safety deposit box.
Hard to tell if this is just a case of one agent screwing up or if the entire team went beyond the limits of their authority. The way I see it, that matters.
Andy Lustig
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
@tincup said:
A clear abuse of government powers. Unfortunately, what remedy does the person really have? Yes, I realize they are supposed to have legal recourse, but we've seen in recent years how that works (it doesn't).
While this example was a private firm... you may not be that much safer in a bank. There have been multiple examples of individuals having seizures taking place there also. And.. if the bank gets shut down for some reason... good luck in even getting access to your safety deposit box.
I agree they were fishing for more crooks.
Sad case for the lady.
To my knowledge, they can seize a SDB, but they can't take everybody in the entire vault with them.
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I would not necessarily call this a SDB as it was a private firm and not a bank. The issues raised are troublesome but there is usually more to the story than meets the eye.
sounds like they screwed up! If all of this is true, the FBI will be dishing out some cash.
Things to keep in mind: we don’t know the scope of the search warrant, we have no clue who “Dr. R” is and we don’t know the story behind the investigation. I guarantee this journalist doesn’t either.
BHNC #248 … 140 and counting.
This is an example of government run a muck.
What happened to the fourth amendment concerning illegal search and seizures? It’s a black eye for the FBI for sure.
There may have been illegal stuff in some of the safe deposit boxes, but that does not give the government to the right to seize of the legal property of citizens who were not involved in the wrong doing.
Certainly, from the article, it would appear the FBI exceeded the terms of the warrant. That being said, they will likely settle out of court for a minor fee and court costs. Cheers, RickO
Government is evil.....
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
Some banks have safe deposit box agreements which limit safe deposit box losses to $25,000 per customer and ask that customers not store bullion coins in boxes.
The Mysterious Egyptian Magic Coin
Coins in Movies
Coins on Television
The FBI had to safeguard the contents of the boxes. To do so, there typically is an inventory. It appears they videoed everything to cover their backside. They couldn't just leave everything unsecured.
From the information presented there is no way to make a legal determination of whether an error was made, and if so, what the legal remedy would be for the error.
you could always move to another country.
I love the Great USA and trust the FBI and our government workers.
That escalated quickly.
Renting a "private" storage area at a non-regulated property presents unique risks. Peace Roy
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Wow just wow. They can do it anywhere even at your house. Just don’t piss them off and pay your taxes and all will be good.
Hoard the keys.
My mother's bank was located in a floodplain. Her coin collection was ruined when the bank (and her safe deposit box) flooded.
Watch the movie "The Bank Job"
We don't have private boxes in my area.
Guess that is more of a big city need.
I would trust my bank SDB more than a private facility.
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Why do I feel like I'm only getting one side of this story? Note to self: when you put all of your retirement savings into a bank vault or SDB... make certain it's an actual bank.
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A clear abuse of government powers. Unfortunately, what remedy does the person really have? Yes, I realize they are supposed to have legal recourse, but we've seen in recent years how that works (it doesn't).
While this example was a private firm... you may not be that much safer in a bank. There have been multiple examples of individuals having seizures taking place there also. And.. if the bank gets shut down for some reason... good luck in even getting access to your safety deposit box.
Hard to tell if this is just a case of one agent screwing up or if the entire team went beyond the limits of their authority. The way I see it, that matters.
Doggedly collecting coins of the Central American Republic.
Visit the Society of US Pattern Collectors at USPatterns.com.
I agree they were fishing for more crooks.
Sad case for the lady.
To my knowledge, they can seize a SDB, but they can't take everybody in the entire vault with them.
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I trust the men in blue more than I’ll ever trust the FBI.
As I work for the government my feelings are different. Although it is possible to love your country but dislike the government and or their actions.
Paper money eventually returns to its intrinsic value. Zero. Voltaire. Ebay coinbowlllc
There is a huge difference in the terms "evil" and "dislike".
Wow!
That is very disturbing
BHNC #203