Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us.
<< <i>Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
If a teller says a check cleared I better be able to rely on it or there will be a lawsuit against the bank if not true and I and harmed.
I manage money. I earn money. I save money . I give away money. I collect money. I don’t love money . I do love the Lord God.
Let's use reasoning here, how are the tellers going to know? Not even your own bank knows if there is money in the account the check is coming from. I would never want to rely on a teller for that amount lest any amount. I need to know that the money is there, and calling the other person's bank might help verify that it is or isn't, but they may not even give you that information due to confidentiality reasons. It's a real lose/lose taking a check of that amount from someone you don't know. It really is, no question about it.
<< <i>Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
many many many years ago I owned a shop on Rte 88 at the Laurelton circle in Bricktown NJ. My main competitor was a few miles down the road in Point Pleasant called the Silver Eagle. I had a partner whose4 family owned a private ambulance service in the area.
One day a fellow walked into my shop and sold me a few k-rands which I paid him in cash ( ahh the good ol days, This was around 1981 ). Gold dropped like a rock overnight and the same fellow ( Geodfrey C Umplebe which I am prolly mispelling) Next day old Geodfrey walked in and asked if I still had those krands ( which I did ) and he'd like to buy them and take advantage of the drop in price. So far makes sense right? Right. He now goes to pay me with a check. I was verrry reluctant to take his check but asked for a reference which he gave ( of course ) Silver Eagle in Point Pleasant. I called them right in front of him and they told me the guy is gold. That he goes up and down the eastern seaboard buying all the dental gold and selling big quantities of it. So ok the guy is gold and I took his check which was a little over 2 grand. A few days before that I had put a deposit on a new kiddies bedroom set at Ethan Allen which was around 2 grand.
A few days later my parter called me while on duty with the ambulance and told me the check bounced and they punched holes in it signifying the account was closed and we were out the money. I told him to pick me up in the ambulance , that we were going to Seaside to visit ol Geodfrey. I brought a baseball bat. We got to ol Jeffs house and I went thru the front door after seeing this putz look out the window and refuse to come out. It was like a movie with me being VERY bad cop and my partner Bobby playing good cop. I broke a few things with the bat and leveled it againt Geodfrey's face telling him he better have a couple grand in cash to pay me or he was going to need that ambulance outside and we would be requiring money in advance just to take him to intensive care. My partner convinced me not to hit this slimebag and to give him 1 day to come up with the money to make things right. ( I was 26 years old and in no mood but I relented )
You all probably guessed that Geodfrey absconded. Court papers were filed and I was supeoned to attend. Geodrey was nowehere to be found. I closed my place of business for almost the entire day for nothing. Ol Geodfrey took off and was seen over the border in Pennsylvania. I asked the prosecutor what they were going to do about it and he replied "NOTHING". He's in a different state and this isn't enough to drag him back. I guess I got a little loud at that point telling this "officer of the court" that I'm losing thousands of dollars closing my shop in addition to being ripped off from this lowlife and that not only was I victimed by this dirtbag but now to add insult to injury the very courts that are supposed to protect me are victimizing me again. He told me I better show up when I'm told and I better lower my voice and soften my "tone" or be subjected to being charged with contempt.
In retrospect, Geodfrey should have gotten hit with the bat, then driving to the meadowlands. ( Leave the bat, take the cannoli's)
When I was ripped on the bad checks like you Larry a couple years ago, the FBI did NOTHING. Zero. Nada. Waste of time. I hope it works out for you but PennieAnnie made a good point a few posts ago.
<< <i>For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
M.O. yes, Cashiers Check? No.
I'm sure many of you realize that a stop payment can be placed on a Cashier's Check. A Cashier's Check still requires time to clear. Be careful.
<< <i>Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
If a teller says a check cleared I better be able to rely on it or there will be a lawsuit against the bank if not true and I and harmed. >>
That scenario is not the one that occurred here. It is my understanding that no one told Larry the check had cleared.
<< <i>Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
If a teller says a check cleared I better be able to rely on it or there will be a lawsuit against the bank if not true and I and harmed. >>
That scenario is not the one that occurred here. It is my understanding that no one told Larry the check had cleared. >>
Well that's even more the reason I wouldn't send out expensive coins. I would need 100% verification first that the money was in the account of the check writer, if I couldn't verifiy that, I'd call him and tell him to send me the money in another form. Wire it. It's not hard. Checks can be very unsafe and I don't like taking them nor do I like writing them, cash is king in society today.
I tried to find the location in Chicago of this bank - does it exist? the street and address I mean - and why would a big bank have a suite as their address?
I wish I could find where that bank routing number went to - or is all the info on this check bogus?
<< <i>Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
If a teller says a check cleared I better be able to rely on it or there will be a lawsuit against the bank if not true and I and harmed. >>
That scenario is not the one that occurred here. It is my understanding that no one told Larry the check had cleared. >>
Well that's even more the reason I wouldn't send out expensive coins. I would need 100% verification first that the money was in the account of the check writer, if I couldn't verifiy that, I'd call him and tell him to send me the money in another form. Wire it. It's not hard. Checks can be very unsafe and I don't like taking them nor do I like writing them, cash is king in society today. >>
This particular situation is understandably receiving a great deal of attention. However, statistically, it is the rare exception to the rule. And there are countless transactions involving checks that proceed without any problems, on a daily basis.
I tried to find the location in Chicago of this bank - does it exist? the street and address I mean - and why would a big bank have a suite as their address?
I wish I could find where that bank routing number went to - or is all the info on this check bogus? >>
There is no Maryland Way in Chicago. Bogus street name.
I tried to find the location in Chicago of this bank - does it exist? the street and address I mean - and why would a big bank have a suite as their address?
I wish I could find where that bank routing number went to - or is all the info on this check bogus? >>
There is no Maryland Way in Chicago. Bogus street name. >>
Plus, LaSalle bank is no longer. It was acquired by Bank of America. LaSalle
I hate to agree but i would have been REAL LEARY of taking that check. I have been self employeed for 30 years now and from time to time i have not accepted checks for one reason or the other. They only way i would have probably taken that check is if i had 100 dollars invested in those 14k coins. I look at risk/reward and go from there.
Mark NGC registry V-Nickel proof #6!!!! working on proof shield nickels # 8 with a bullet!!!!
i am appalled that this guy can do this for so long and not be caught. for one thing he must have a place to dump these quickly so smoeone must know there is something shady goin` on.
i think we all have something to learn here. gone are the days of trust. i entered both addys from that check into my iphone maps app and the bank is non-existent(huge red flag) and the addy from acct holder is a commercial district(not necessarily a red flag) . i will now do this even for a $20 check just because it is done so easily.
In order to pursue this both criminally and civilly, as you should, you must follow certain procedures.
One will be to notify the maker via certified mail w/a return receipt. I found this nut you may want to contact a lawyer in the Jonesboro, AR area for assistance as well as Jonesboro police.
Thanks. I just sent that company an email, briefly explained the situation and suggested that they get in touch with Larry - perhaps they can help each other.
Thanks. I just sent that company an email, briefly explained the situation and suggested that they get in touch with Larry - perhaps they can help each other. >>
He's burning ppl over state lines hoping that no one has the moxy to track him down.
Thanks. I just sent that company an email, briefly explained the situation and suggested that they get in touch with Larry - perhaps they can help each other. >>
He's burning ppl over state lines hoping that no one has the moxy to track him down. >>
I think and hope that he will get what he deserves this time.
Wow, sorry to hear this, that sucks, hope somebody catches this guy...Feds usually don't due much unless and until amount hits larger numbers even combined with his other scams...Registered Mail, especially for out of state purchases with checks might have made a difference in that it's so slow, maybe coulda recalled the shipment..
Maybe this clown should be introduced to R-I-C-O !
RICO offenses
Under the law, racketeering activity means:
* Any violation of state statutes against gambling, murder, kidnapping, extortion, arson, robbery, bribery, dealing in obscene matter, or dealing in a controlled substance or listed chemical (as defined in the Controlled Substances Act); * Any act of bribery, counterfeiting, theft, embezzlement, fraud, dealing in obscene matter, obstruction of justice, slavery, racketeering, gambling, money laundering, commission of murder-for-hire, and several other offenses covered under the Federal criminal code (Title 18); * Embezzlement of union funds; * Bankruptcy fraud or securities fraud; * Drug trafficking; long-term and elaborate drug networks can also be prosecuted using the Continuing Criminal Enterprise Statute; * Money laundering and related offenses; * Bringing in, aiding or assisting aliens in illegally entering the country (if the action was for financial gain); * Acts of terrorism.
<< <i>Feds usually don't due much unless and until amount hits larger numbers even combined with his other scams... >>
Feds, state, local, whatever... this is the sort of thing that really pi$$es me off. You pay taxes most of your life to support these agencies and when you need their help, they tell you your loss is not worth their trouble.
If I sound bitter, it's because I am. My house was broken into 15 years ago and I lost an equivalent of 1/3 to 1/2 a year's pay. The police wouldn't do anything other than take a report because it wasn't that big a deal to them.
<< <i>Feds usually don't due much unless and until amount hits larger numbers even combined with his other scams... >>
Feds, state, local, whatever... this is the sort of thing that really pi$$es me off. You pay taxes most of your life to support these agencies and when you need their help, they tell you your loss is not worth their trouble.
If I sound bitter, it's because I am. My house was broken into 15 years ago and I lost an equivalent of 1/3 to 1/2 a year's pay. The police wouldn't do anything other than take a report because it wasn't that big a deal to them.
End of rant. Carry on. >>
We had a client that the "cops" put out a hit on, the FEDS came in to supposedly protect our guy from the cops and they got mad at him for wearing a bullet proof vest...They said that was a crime...
<< <i>Whatever bank cashed that check, wouldn't they have had a camera on the individual cashing the check?
I haven't seen anyone asking for pictures of the coins. Is this a bad idea?
Leo >>
What's that have to do with anything? Having a camera on the individual (Larry) would have made no difference in this case. He was not the perp. I think due dilligence was the answer here and am surprised a seasoned dealer like Larry would have fallen victim to this stunt. Wasn't smart on Larry's part, nor was it legal on the other person's.
You are only cover if you have the right endorsement in your policy.
<< <i>I might be stupid for asking but does any form of small business insurance help with this? I had a friend who was embezzled from and after it was varifyied by an accountant it was covered 75%. I would think that that would be harder to prevent than bad checks which would make it harder to insure >>
Coin Collector, Chicken Owner, Licensed Tax Preparer & Insurance Broker/Agent. San Diego, CA
<< <i>Whatever bank cashed that check, wouldn't they have had a camera on the individual cashing the check?
I haven't seen anyone asking for pictures of the coins. Is this a bad idea?
Leo >>
What's that have to do with anything? Having a camera on the individual (Larry) would have made no difference in this case. He was not the perp. I think due dilligence was the answer here and am surprised a seasoned dealer like Larry would have fallen victim to this stunt. Wasn't smart on Larry's part, nor was it legal on the other person's. >>
Crap! what was I thinking?
What about pics of the coins? Is that a bad idea?
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
I've googled and called banks on checks when I had a concern. All have turned out OK. The amount of Info you get varies but it is enough to make you feel OK with cashing it.
My high school girlfriend worked at Lasalle Bank Downtown Chicago so I remember when it sold. This would have tipped me off.
But we shouldn't hammer Larry too hard here. He's not in the banking business. However, how long should it take Chase Bank to figure out that the bank doesn't exist any more. They ARE in the banking business. I agree with Larry that his bank really screwed up.
<< <i>Sorry, but lots of warning signs...Google is your friend....
Entire check printed on a home laser printer
Buyer using an out of state bank
Lasalle Bank has not existed in 2 years
There is no bank at that address in Chicago
In fact, there is not even such a STREET in Chicago >>
As much as I feel bad for Larry, I have absolutely no sympathy for someone who doesn't do his due dilligence on something like this especially for this amount(any amount). It's irresponsible. Also, the bank should be held at fault too for not realizing the check being phony from the getgo. Either way, I am not confident in the feds/local officials doing anything about this. I hope Larry gets his money or coins but I have to agree with some of the posters here, it's going to be a long and tiresome uphill battle.
I don't think insurance will cover this. Not even sure if there's a policy you could take out for such thing. (To the poster who suggested insurance covering this possibly)
Remember if a check is written on a bank that has an office in your city, ...Chase, BofA, Citibank, Wells Fargo, etc...you have the right to demand cash from THEIR CUSTOMER at your local branch...and you will instantly get the money or find out if there is a problem.
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
<< <i>Remember if a check is written on a bank that has an office in your city, ...Chase, BofA, Citibank, Wells Fargo, etc...you have the right to demand cash from THEIR CUSTOMER at your local branch...and you will instantly get the money or find out if there is a problem. >>
you may have the right , and demand all you want ;
As much as I feel bad for Larry, I have absolutely no sympathy to someone who doesn't do his due dilligence on something like this. Sorry, can't.
I don't believe I read anywhere in this thread that Larry was asking for your, or anyone else's "sympathy" but is trying to gather as much information as possible from other dealers/collectors to try and stop this guy......he's been out of control for years. I believe Larry's intent of the post was to warn other collectors and dealers alike of this individual to try and keep this from happening again, at least in this industry.
What steve said..just looking to put this guy away.. I am willing to spend whatever it takes to put him in prison..or I will trade that for just 10 minutes alone with him.
I am not done with my bank either. There is a good chance that the bank manager will be looking for another job..
My lawyer is a coin guy,and he will do what is needed for free...
Back to baseball
Larry Shapiro Rare Coins - LSRC POB 854 Temecula CA 92593 310-541-7222 office 310-710-2869 cell www.LSRarecoins.com Larry@LSRarecoins.com
PCGS Las Vegas June 24-26 Baltimore July 14-17 Chicago August 11-15
<< <i>Frank, how can you tell that from a pic of a copy of the check? >>
Just seen enough of them. You can buy totally blank checks for use with Quickbooks or Peachtree software. They have all the PAPER security features....except a crook can type any fake bank name or account number he chooses
Frank Provasek - PCGS Authorized Dealer, Life Member ANA, Member TNA. www.frankcoins.com
Those addresses are probably a Mail Boxes Etc place, or what ever the places are called now. were you rent a box, kind of like a PO box but a private business. Crooks for years have been using them like they have a business address, because you can add suite A etc then the box number as you see in his two address. I found this out the hard way also. So save your air fare unless you want to stake out the box.
<< <i>Remember if a check is written on a bank that has an office in your city, ...Chase, BofA, Citibank, Wells Fargo, etc...you have the right to demand cash from THEIR CUSTOMER at your local branch...and you will instantly get the money or find out if there is a problem. >>
Very good advice for large transactions..........."sir, you will need to deposit your money into a (my) bank that I do business with"
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
<< <i>Remember if a check is written on a bank that has an office in your city, ...Chase, BofA, Citibank, Wells Fargo, etc...you have the right to demand cash from THEIR CUSTOMER at your local branch...and you will instantly get the money or find out if there is a problem. >>
you may have the right , and demand all you want ;
but , without an account at said bank - good luck >>
Bank is the agent of the account holder. As agent their primary purpose is to disperse money from the account on behalf of the account holder. The check is an instrument to do this. Bank's role is convert the instrument to cash on behalf of the account holder. Bank also has a responsibility to verify validy of the instrument to protect themselves and the account holder. For this reason they may refuse to cash the check. That is your clue that there is a problem. If I did accept a check for 14k it would have to be drawn on a bank with a branch in my city and with the understanding that goods would not be shipped if buyer's representative (the bank) refused to convert the check. At that point I would return the check to the buyer and cancel the sale.
No Way Out: Stimulus and Money Printing Are the Only Path Left
I took a check from a buyer to his bank PNC, and since I did not have an account with them, they charged me $5 to cash the check. This is the first time, I have been charged for doing this.
<< <i>I took a check from a buyer to his bank PNC, and since I did not have an account with them, they charged me $5 to cash the check. This is the first time, I have been charged for doing this. >>
But they did honor his instructions (the insturment) to provide you with the funds. Good chance they're charging him a fee to maintain the checking account. What a bank charges to provide a service is what either keeps them in business or causes them to fold. In the case of PNC, if I new they were charging people I wrote checks to I would find another bank. And if every bank started charging a $5 fee for this service I would suspect price fixing, which is hard to prove but very illegal. You'd be surprised at the number of illegal closed-door meetings between competitors to agree on things such as this. Had a sales buddy who attended such a meeting where competing trash haulers were illegally setting the rental price for dumpsters used by businesses. They also agreed that if a customer refused go along with the price the remaining competitors would refuse to provide alternate dumpster service. Industry was being run like a mobster "protection" service.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Comments
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us.
<< <i>Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
If a teller says a check cleared I better be able to rely on it or there will be a lawsuit against the bank if not true and I and harmed.
I give away money. I collect money.
I don’t love money . I do love the Lord God.
<< <i>Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
many many many years ago I owned a shop on Rte 88 at the Laurelton circle in Bricktown NJ. My main competitor was a few miles down the road in Point Pleasant called the Silver Eagle. I had a partner whose4 family owned a private ambulance service in the area.
One day a fellow walked into my shop and sold me a few k-rands which I paid him in cash ( ahh the good ol days, This was around 1981 ). Gold dropped like a rock overnight and the same fellow ( Geodfrey C Umplebe which I am prolly mispelling) Next day old Geodfrey walked in and asked if I still had those krands ( which I did ) and he'd like to buy them and take advantage of the drop in price. So far makes sense right? Right. He now goes to pay me with a check. I was verrry reluctant to take his check but asked for a reference which he gave ( of course ) Silver Eagle in Point Pleasant. I called them right in front of him and they told me the guy is gold. That he goes up and down the eastern seaboard buying all the dental gold and selling big quantities of it. So ok the guy is gold and I took his check which was a little over 2 grand. A few days before that I had put a deposit on a new kiddies bedroom set at Ethan Allen which was around 2 grand.
A few days later my parter called me while on duty with the ambulance and told me the check bounced and they punched holes in it signifying the account was closed and we were out the money. I told him to pick me up in the ambulance , that we were going to Seaside to visit ol Geodfrey. I brought a baseball bat. We got to ol Jeffs house and I went thru the front door after seeing this putz look out the window and refuse to come out. It was like a movie with me being VERY bad cop and my partner Bobby playing good cop. I broke a few things with the bat and leveled it againt Geodfrey's face telling him he better have a couple grand in cash to pay me or he was going to need that ambulance outside and we would be requiring money in advance just to take him to intensive care. My partner convinced me not to hit this slimebag and to give him 1 day to come up with the money to make things right. ( I was 26 years old and in no mood but I relented )
You all probably guessed that Geodfrey absconded. Court papers were filed and I was supeoned to attend. Geodrey was nowehere to be found. I closed my place of business for almost the entire day for nothing. Ol Geodfrey took off and was seen over the border in Pennsylvania. I asked the prosecutor what they were going to do about it and he replied "NOTHING". He's in a different state and this isn't enough to drag him back. I guess I got a little loud at that point telling this "officer of the court" that I'm losing thousands of dollars closing my shop in addition to being ripped off from this lowlife and that not only was I victimed by this dirtbag but now to add insult to injury the very courts that are supposed to protect me are victimizing me again. He told me I better show up when I'm told and I better lower my voice and soften my "tone" or be subjected to being charged with contempt.
In retrospect, Geodfrey should have gotten hit with the bat, then driving to the meadowlands. ( Leave the bat, take the cannoli's)
When I was ripped on the bad checks like you Larry a couple years ago, the FBI did NOTHING. Zero. Nada. Waste of time. I hope it works out for you but PennieAnnie made a good point a few posts ago.
Nation of laws my as_s.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
<< <i>For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
M.O. yes, Cashiers Check? No.
I'm sure many of you realize that a stop payment can be placed on a Cashier's Check. A Cashier's Check still requires time to clear. Be careful.
<< <i>
<< <i>Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
If a teller says a check cleared I better be able to rely on it or there will be a lawsuit against the bank if not true and I and harmed. >>
That scenario is not the one that occurred here. It is my understanding that no one told Larry the check had cleared.
<< <i>
<< <i>
<< <i>Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
If a teller says a check cleared I better be able to rely on it or there will be a lawsuit against the bank if not true and I and harmed. >>
That scenario is not the one that occurred here. It is my understanding that no one told Larry the check had cleared. >>
Well that's even more the reason I wouldn't send out expensive coins. I would need 100% verification first that the money was in the account of the check writer, if I couldn't verifiy that, I'd call him and tell him to send me the money in another form. Wire it. It's not hard. Checks can be very unsafe and I don't like taking them nor do I like writing them, cash is king in society today.
I tried to find the location in Chicago of this bank - does it exist? the street and address I mean - and why would a big bank have a suite as their address?
I wish I could find where that bank routing number went to - or is all the info on this check bogus?
<< <i>
<< <i>
<< <i>
<< <i>Spoke to my bank today asking them about the situation (hypothetical if it were to happen to me) and they said:
"Checks can take up to 30 days to clear, even sometimes 6 months." "Don't rely on the teller, even if you have good standing with the bank" For something of this amount, 14 money orders at $1000 each or a Cashier's Check would have done Larry good. Guess this is a lesson learned for all of us. >>
If a teller says a check cleared I better be able to rely on it or there will be a lawsuit against the bank if not true and I and harmed. >>
That scenario is not the one that occurred here. It is my understanding that no one told Larry the check had cleared. >>
Well that's even more the reason I wouldn't send out expensive coins. I would need 100% verification first that the money was in the account of the check writer, if I couldn't verifiy that, I'd call him and tell him to send me the money in another form. Wire it. It's not hard. Checks can be very unsafe and I don't like taking them nor do I like writing them, cash is king in society today. >>
This particular situation is understandably receiving a great deal of attention. However, statistically, it is the rare exception to the rule. And there are countless transactions involving checks that proceed without any problems, on a daily basis.
<< <i>here is the check
I tried to find the location in Chicago of this bank - does it exist? the street and address I mean - and why would a big bank have a suite as their address?
I wish I could find where that bank routing number went to - or is all the info on this check bogus? >>
There is no Maryland Way in Chicago. Bogus street name.
<< <i>
<< <i>here is the check
I tried to find the location in Chicago of this bank - does it exist? the street and address I mean - and why would a big bank have a suite as their address?
I wish I could find where that bank routing number went to - or is all the info on this check bogus? >>
There is no Maryland Way in Chicago. Bogus street name. >>
Plus, LaSalle bank is no longer. It was acquired by Bank of America. LaSalle
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"
<< <i>There is no Maryland Way in Chicago. Bogus street name. >>
The bank and routing numbers are bogus, too. You can look up banks and routing numbers here.
Check out the last name on this page .
i think we all have something to learn here. gone are the days of trust. i entered both addys from that check into my iphone maps app and the bank is non-existent(huge red flag) and the addy from acct holder is a commercial district(not necessarily a red flag) . i will now do this even for a $20 check just because it is done so easily.
larry, i hope you are made right by this sc*mb*g.
One will be to notify the maker via certified mail w/a return receipt. I found this nut you may want to contact a lawyer in the Jonesboro, AR area for assistance as well as Jonesboro police.
<< <i>The fellow uses a number of similar aliases.
Check out the last name on this page . >>
Thanks. I just sent that company an email, briefly explained the situation and suggested that they get in touch with Larry - perhaps they can help each other.
<< <i>
<< <i>The fellow uses a number of similar aliases.
Check out the last name on this page . >>
Thanks. I just sent that company an email, briefly explained the situation and suggested that they get in touch with Larry - perhaps they can help each other. >>
He's burning ppl over state lines hoping that no one has the moxy to track him down.
<< <i>
<< <i>
<< <i>The fellow uses a number of similar aliases.
Check out the last name on this page . >>
Thanks. I just sent that company an email, briefly explained the situation and suggested that they get in touch with Larry - perhaps they can help each other. >>
He's burning ppl over state lines hoping that no one has the moxy to track him down. >>
I think and hope that he will get what he deserves this time.
RICO offenses
Under the law, racketeering activity means:
* Any violation of state statutes against gambling, murder, kidnapping, extortion, arson, robbery, bribery, dealing in obscene matter, or dealing in a controlled substance or listed chemical (as defined in the Controlled Substances Act);
* Any act of bribery, counterfeiting, theft, embezzlement, fraud, dealing in obscene matter, obstruction of justice, slavery, racketeering, gambling, money laundering, commission of murder-for-hire, and several other offenses covered under the Federal criminal code (Title 18);
* Embezzlement of union funds;
* Bankruptcy fraud or securities fraud;
* Drug trafficking; long-term and elaborate drug networks can also be prosecuted using the Continuing Criminal Enterprise Statute;
* Money laundering and related offenses;
* Bringing in, aiding or assisting aliens in illegally entering the country (if the action was for financial gain);
* Acts of terrorism.
"Everything is on its way to somewhere. Everything." - George Malley, Phenomenon
http://www.american-legacy-coins.com
tax evasion should be a pushover, too.
<< <i>Feds usually don't due much unless and until amount hits larger numbers even combined with his other scams... >>
Feds, state, local, whatever... this is the sort of thing that really pi$$es me off. You pay taxes most of your life to support these agencies and when you need their help, they tell you your loss is not worth their trouble.
If I sound bitter, it's because I am. My house was broken into 15 years ago and I lost an equivalent of 1/3 to 1/2 a year's pay. The police wouldn't do anything other than take a report because it wasn't that big a deal to them.
End of rant. Carry on.
<< <i>
<< <i>Feds usually don't due much unless and until amount hits larger numbers even combined with his other scams... >>
Feds, state, local, whatever... this is the sort of thing that really pi$$es me off. You pay taxes most of your life to support these agencies and when you need their help, they tell you your loss is not worth their trouble.
If I sound bitter, it's because I am. My house was broken into 15 years ago and I lost an equivalent of 1/3 to 1/2 a year's pay. The police wouldn't do anything other than take a report because it wasn't that big a deal to them.
End of rant. Carry on. >>
We had a client that the "cops" put out a hit on, the FEDS came in to supposedly protect our guy from the cops and they got mad at him for wearing a bullet proof vest...They said that was a crime...
<< <i>
<< <i>There is no Maryland Way in Chicago. Bogus street name. >>
The bank and routing numbers are bogus, too. You can look up banks and routing numbers here. >>
That looks like a useful tool!
Now if only there was a similar website that would tell us if a check cleared and when.
Coin's for sale/trade.
Tom Pilitowski
US Rare Coin Investments
800-624-1870
I haven't seen anyone asking for pictures of the coins. Is this a bad idea?
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>Whatever bank cashed that check, wouldn't they have had a camera on the individual cashing the check?
I haven't seen anyone asking for pictures of the coins. Is this a bad idea?
Leo >>
What's that have to do with anything? Having a camera on the individual (Larry) would have made no difference in this case. He was not the perp. I think due dilligence was the answer here and am surprised a seasoned dealer like Larry would have fallen victim to this stunt. Wasn't smart on Larry's part, nor was it legal on the other person's.
Entire check printed on a home laser printer
Buyer using an out of state bank
Lasalle Bank has not existed in 2 years
There is no bank at that address in Chicago
In fact, there is not even such a STREET in Chicago
<< <i>Whatever bank cashed that check, wouldn't they have had a camera on the individual cashing the check?
Leo >>
Soooooooooooooo, you didn't read the complete thread?
<< <i>I might be stupid for asking but does any form of small business insurance help with this? I had a friend who was embezzled from and after it was varifyied by an accountant it was covered 75%. I would think that that would be harder to prevent than bad checks which would make it harder to insure >>
San Diego, CA
<< <i>
<< <i>Whatever bank cashed that check, wouldn't they have had a camera on the individual cashing the check?
I haven't seen anyone asking for pictures of the coins. Is this a bad idea?
Leo >>
What's that have to do with anything? Having a camera on the individual (Larry) would have made no difference in this case. He was not the perp. I think due dilligence was the answer here and am surprised a seasoned dealer like Larry would have fallen victim to this stunt. Wasn't smart on Larry's part, nor was it legal on the other person's. >>
Crap! what was I thinking?
What about pics of the coins? Is that a bad idea?
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
My high school girlfriend worked at Lasalle Bank Downtown Chicago so I remember when it sold. This would have tipped me off.
But we shouldn't hammer Larry too hard here. He's not in the banking business. However, how long should it take Chase Bank to figure out that the bank doesn't exist any more. They ARE in the banking business. I agree with Larry that his bank really screwed up.
--Jerry
the system is broken .........
you got to I.D him, find him, and pay someone to take care of the problem .
there is no other way
<< <i>Sorry, but lots of warning signs...Google is your friend....
Entire check printed on a home laser printer
Buyer using an out of state bank
Lasalle Bank has not existed in 2 years
There is no bank at that address in Chicago
In fact, there is not even such a STREET in Chicago >>
As much as I feel bad for Larry, I have absolutely no sympathy for someone who doesn't do his due dilligence on something like this especially for this amount(any amount). It's irresponsible. Also, the bank should be held at fault too for not realizing the check being phony from the getgo. Either way, I am not confident in the feds/local officials doing anything about this. I hope Larry gets his money or coins but I have to agree with some of the posters here, it's going to be a long and tiresome uphill battle.
I don't think insurance will cover this. Not even sure if there's a policy you could take out for such thing. (To the poster who suggested insurance covering this possibly)
<< <i>Entire check printed on a home laser printer >>
Frank, how can you tell that from a pic of a copy of the check?
<< <i>Remember if a check is written on a bank that has an office in your city, ...Chase, BofA, Citibank, Wells Fargo, etc...you have the right to demand cash from THEIR CUSTOMER at your local branch...and you will instantly get the money or find out if there is a problem. >>
you may have the right , and demand all you want ;
but , without an account at said bank - good luck
I don't believe I read anywhere in this thread that Larry was asking for your, or anyone else's "sympathy" but is trying to gather as much information as possible from other dealers/collectors to try and stop this guy......he's been out of control for years. I believe Larry's intent of the post was to warn other collectors and dealers alike of this individual to try and keep this from happening again, at least in this industry.
Check out my PQ selection of Morgan & Peace Dollars, and more at:
WWW.PQDOLLARS.COM or WWW.GILBERTCOINS.COM
Southeast Financial Federal Credit Union 5110 Maryland Way, Ste 100, Brentwood, TN 37027
www.southeastfinancial.org
It's possible this is his actual bank, and he just changed the bank name and city in quickbooks or other check printing software
I am willing to spend whatever it takes to put him in prison..or I will trade that for just 10 minutes alone with him.
I am not done with my bank either.
There is a good chance that the bank manager will be looking for another job..
My lawyer is a coin guy,and he will do what is needed for free...
Back to baseball
POB 854
Temecula CA 92593
310-541-7222 office
310-710-2869 cell
www.LSRarecoins.com
Larry@LSRarecoins.com
PCGS Las Vegas June 24-26
Baltimore July 14-17
Chicago August 11-15
<< <i>this guy has been doing this for many years -and he's not in jail ; there's a reason why
the system is broken .........
you got to I.D him, find him, and pay someone to take care of the problem .
there is no other way >>
Where's Charles Bronson when you need him?
Tip of the hat to Larry for taking on this clown. Best of luck!
<< <i>Frank, how can you tell that from a pic of a copy of the check? >>
Just seen enough of them. You can buy totally blank checks for use with Quickbooks or Peachtree software. They have all the PAPER
security features....except a crook can type any fake bank name or account number he chooses
Successful Trades: Swampboy,
<< <i>Remember if a check is written on a bank that has an office in your city, ...Chase, BofA, Citibank, Wells Fargo, etc...you have the right to demand cash from THEIR CUSTOMER at your local branch...and you will instantly get the money or find out if there is a problem. >>
Very good advice for large transactions..........."sir, you will need to deposit your money into a (my) bank that I do business with"
Leo
The more qualities observed in a coin, the more desirable that coin becomes!
My Jefferson Nickel Collection
<< <i>
<< <i>Remember if a check is written on a bank that has an office in your city, ...Chase, BofA, Citibank, Wells Fargo, etc...you have the right to demand cash from THEIR CUSTOMER at your local branch...and you will instantly get the money or find out if there is a problem. >>
you may have the right , and demand all you want ;
but , without an account at said bank - good luck >>
Bank is the agent of the account holder. As agent their primary purpose is to disperse money from the account on behalf of the account holder. The check is an instrument to do this. Bank's role is convert the instrument to cash on behalf of the account holder. Bank also has a responsibility to verify validy of the instrument to protect themselves and the account holder. For this reason they may refuse to cash the check. That is your clue that there is a problem. If I did accept a check for 14k it would have to be drawn on a bank with a branch in my city and with the understanding that goods would not be shipped if buyer's representative (the bank) refused to convert the check. At that point I would return the check to the buyer and cancel the sale.
No Way Out: Stimulus and Money Printing Are the Only Path Left
Successful Trades: Swampboy,
<< <i>I took a check from a buyer to his bank PNC, and since I did not have an account with them, they charged me $5 to cash the check. This is the first time, I have been charged for doing this. >>
But they did honor his instructions (the insturment) to provide you with the funds. Good chance they're charging him a fee to maintain the checking account. What a bank charges to provide a service is what either keeps them in business or causes them to fold. In the case of PNC, if I new they were charging people I wrote checks to I would find another bank. And if every bank started charging a $5 fee for this service I would suspect price fixing, which is hard to prove but very illegal. You'd be surprised at the number of illegal closed-door meetings between competitors to agree on things such as this. Had a sales buddy who attended such a meeting where competing trash haulers were illegally setting the rental price for dumpsters used by businesses. They also agreed that if a customer refused go along with the price the remaining competitors would refuse to provide alternate dumpster service. Industry was being run like a mobster "protection" service.
No Way Out: Stimulus and Money Printing Are the Only Path Left
"I am not done with my bank either.
There is a good chance that the bank manager will be looking for another job.."
If you can pull that off, i have a list that i would like for you to work on for me.
NGC registry V-Nickel proof #6!!!!
working on proof shield nickels # 8 with a bullet!!!!
RIP "BEAR"