Don’t banks have any legal responsibility? They gave his money away, without his authorization.
“Don’t banks have any legal responsibility?”
1-1/2 years ago, I went in to the bank to start taking money from my IRA., because I reached the age of mandatory withdrawal. The IRA was empty. I spoke to the VP of the branch and she took copies of my statements and started tracking it down.
A financial advisor from the bank had moved it through 8 different insurance companies, credit unions and other agencies trying to hide it. It took 4 months, but she retrieved my funds (a little less than $200K). The bank’s crooked financial advisor is now in jail, and my IRA wasn’t the only one he tried to abscond with.
If someone has the credentials to fool the bank into thinking it’s you; that’s all the bank can do.
That transaction should leave a e-paper trail. I suspect they will figure out who took it.