My wife an I opened account 2005. All our accounting is done by a service with them sending us checks to sign with the invoices attached. A P&L is sent by them monthly. Over the past 4 years the accounting service SBH Financial Services Group, discovered the private bank would do on-line transfers from our account into an account they had access to. The total to date including the recent 50K blackmail phone call to avoid 4 years in jail after I told them to replace any funds disbursed with out our authority. Recent investigations showed the bank released over 20K between 2005 and 2010. The total amount of checks by mail is yet to be determined, while the accounting service is the one who transferred the funds and is currently hiding from the police. The bank advised they are a private bank and have no responsibility
as they write their own rules. When asked about any alert system they advised us they do not have one and are not required to have one. Additional charged were through checks buy mail/phone in the thousands and the bank and they have no responsibility at all and have no way to find our who authorized the checks to where they went. Our other bank BOA stated all the checks would have shown up on alert on my desk before they could have been paid.
When we told them to put the money back that they released WE WERE TOLD THAT the demand THAT STATEMENT WAS LIKE ROBING THE BANK AND I WOULD GO TO JAIL FOR 2-4 YEARS, if I did not bring in the 50K to the bank immediately. We later discovered they released over 20 k before the credit line was ever used starting in 2008. They have a deed to our home and based on their past action will take the home from us when we don't make the balloon by April.in addition they demanded all my insurance policies go through their broker and they be designated the benefactor NOT my wife.
Our possession is real bad and i doubt any one can help us now but we don't want other seniors to go through this. You tell the best places to live and the bast interest rates but I have never seen banks to avoid. I told them to cancel all the docs signed under the threat of jail but they just ignore me. When I write these letters i receive another threat letter from their attorneys. I want so much to hold a sign and say i'm missing the 120 K in front of the bank but do not want to go to jail. They will do that for sure. I'm 67 years old and still work have to work to support my wife and feed the animals, jail time simply will not work into the schedule.
Tom and Becky Hoffmann
(Personal Information Removed)
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