Hero evicted after falling victim to an investment scam

katu ^

[chance33_98]

Hero evicted after falling victim to an investment scam

BEAVERTON, Ore. - An elderly couple, swindled out of more than $80,000 by their accountant, were forced out of their $1 million Beaverton home by Washington County Sheriff's deputies. One week ago, six armed deputies, said Ken and Trudy Reusser, broke down the door to their home, searched the house and asked the couple to pack their belongings and leave within the hour. Two of the deputies drew guns, said Trudy Reusser.

The officials removed the couple because the pair was unable to pay for the home, which sits on land once owned by Ken Reusser's grandfather.

"We thought we could retire there and have the kids come visit," said Trudy Reusser from her neighbor's home, where she and her husband have been staying. "Now we're strapped like a young couple starting out in life."

The couple said they owed about $800,000 on the house to Washington Mutual.

Trudy, 65, and Ken, 84, a retired Marine Corps pilot who was awarded the Purple Heart five times and the Navy Cross twice, said they trusted Robert E. Thomas, their accountant, to care for their finances. Instead, he took checks from their checkbook, wrote them to himself and deposited them in his accounts.

Thomas was sentenced in May 2003 to a year in jail. He pleaded guilty to four counts of first-degree aggravated theft and one count of first-degree forgery exceeding $10,000.

The couple filed a civil lawsuit against Thomas and Washington Mutual, which the couple said made it easy for Thomas to forge the checks.

The Reussers have tried to recover their money from the bank, but because they missed a 30-day deadline to file the complaint, Washington Mutual could not help.

The Reussers said they tried to sell the home, but Washington Mutual told them if they did not drop the lawsuit against the bank, it would block the sale.

Olivia Riley, a spokeswoman for Washington Mutual, released a statement saying, "While Mr. Reusser's situation is unfortunate, it is not of our company's making."

Three years ago, the Reussers said they lost $262,500 in a high-yield investment they learned about from friends. That, along with the $83,383 they lost to Thomas, forced them to file for bankruptcy in August.

The sheriff's office said it was not aware of the earlier investment loss.

[Modernman]

Not to sound hard-hearted, but why should this guy's war record matter? If he can't pay his mortgage, the bank has a right to foreclose.

[tuckrdout]

Did the bank have the right to process checks that were forged and had no signatures? There is more to this story than in this article! The bank refused to be responsible for their gross negligence in cashing those checks; making the couple unable to pay their mortgage payments, and other bills.

Then, the bank did not respond to the lawsuit within 30 days, and were actually in default. A Judge, "Gail Nachtigal" signed the Default Judgment, according to the law. But then, a different Judge: Michael J. McElligott, overturned that Default Judgment, and set a court date to hear the case!

Unbelievably, the bank's lawyers did not even bother to show up in the courtroom, on the appointed date! Again, the Reussers were suppose to win their lawsuit by default, but again the judge ruled in favor of the Bank, and gave them an extention...the judge actually called the bank's lawyer, from the bench! Do ya think he had a little conflict of interest?

The Reussers were denied justice by the bank, because they missed a 30 day deadline; then the judge allows the bank to miss 2, TWO deadlines!

Judge McElligott, of course, ruled in favor of Washington Mutual Bank....In effect, ruling that the Bank has no responsibility in detecting forged and unsigned checks--and did not have to live up to legal deadlines---yet they can hold their clients to those deadlines!

What if this was you, or your elderly parents?!

The Reussers then tried to sell the home, but Washington Mutual blocked the sale! Of course, making the Reussers unable to repay the mortgage, and allowing the bank to foreclose, possess and sell it themselves!


His war record counts, because if it weren't for guys like him, we would be banking at the "Hitler Mutual Bank"! That snot nosed kid at the bank wouldn't be here, if not for guys like this who are willing to put their lives on the line to keep this country free. He deserves better treatment than this!

[Safetgiver]

$800,000 in debt, no income and 80years old. You can't take it with you but you could sure stick it to your creditors! I had a neighbor who was told he had cancer of the inoperable (uncurable type) so he refinaced his house, bought two new cars and apickup and ran credit cards sky high. He had them all insured (which finance companies figured was a good bet, he was 39 years old) and lived real good until the disease knocked him down. His wife is doing quite well.

[tuckrdout]

I wonder how good the wife will be doing once the insurance companies read the death certificate?

[Modernman]

Did the bank have the right to process checks that were forged and had no signatures?

Depends on State law. In most States, the account-holder has a duty to review his bank statements within a certain amount of time and notify the bank of any problems. If they had told the bank about the fraud in time, the bank would have had to put the money back in their accounts.

What if this was you, or your elderly parents?!</i.

I think the lesson of this story is that people shouldn't allow others to run their financial affairs and that you should always read your bank statements.

There's two sides to every story, granted, but it doesn't look like the bank is out to get these people or anything like that. It looks like, for the most part, this gentleman screwed up.

His war record counts, because if it weren't for guys like him, we would be banking at the "Hitler Mutual Bank"!

Though I am certainly grateful for this guy's services to the country, I really don't see why he should be treated any differently than anyone else in the same situation.

[Blood of Tyrants]

That is a heap sight better than the story a nurse told me. Bubba's plan for taking care of his wife and kids after he was gone was to has as many curtain climbers as possible so his wife could get more welfare, social security, and food stamps, but still dispicable.

[YankeeinOkieville]

One of which would be to read their bank statements ...

My mortgage is with WaMu and I have the monthly payments withdrawn automatically. I can tell you they DO NOT send out monthly statements as a matter of routine if this is the case. In 2003 they twice adjusted my monthly mortgage amount WITHOUT any notice to me. The only way I knew of the change was when my bank statements arrived at my house.

Also, due to their changes, at the end of the year my escrow was a couple hundred in the hole and so they decided to raise my monthly payments by $50 per month, which will put $600 more in the escrow. Minus the $200 deficit recovery which they caused and the presumed $200 to cover this year, that leaves $200 surplus going into next year. All money they, not me are holding and collecting interest on.

I really don't like Washington Mutual and if I weren't so lazy about it, I'd refinance with a different lender. But there are so many other battles taking up my time right now.

[Safetgiver]

This is the insurance credit cards give for .80 on every $100. The same type for the cars (no physical exam, no nothin' except to say you'll pay this outrageous fee for the life of the loan or until you're dead.)I guess the companies figure not many people know they are dead while walking around.

[radiohead]

I was talking about their bank statements. From what I read in the article, the accountant was writing checks on their bank account. This would have been noticed if they read their monthly statement. Don't people notice when money has been withdrawn from their accounts?

I guess I just go off because of the females I know who seem so happy to be ignorant about their money instead of being in control of it.

[YankeeinOkieville]

I guess I just go off because of the females I know who seem so happy to be ignorant about their money instead of being in control of it.

As a female, I apologize for those in my half the species who are brought up to depend on men for everything.

OTOH, wasn't the hero male's name on the bank account also?

[radiohead]

OTOH, wasn't the hero male's name on the bank account also?

Probably. There are men who don't like to deal w/money, plus he was 80 right? I'll cut him a little slack. : )

btw - I'm a female myself. I just try to separate myself from those lesser lights of our species. As I see it, it's a small step from not taking care of your money to asking the government to take care of you (via my money). : )