Advice needed please - brother took dads money

[marleymouse]

Basically my brother has had access to our 84 year old dads bank accounts by doing his online banking and has stolen up to 50k including cashing in 20k of shares by posing as my father, leaving dad with only £50 to his name. The evidenece is all there including a pattern of paper trails & transfers to my brothers account, recordings of calls etc. Dad is speaking to a professional from Soc.Serv today with a view to help him report this to the police which is going to be very hard for my dad. Dad has all his facalties, lives modestly and trusted my brother implicitly so never suspected anything, he is totally destroyed & devastated by this betrayal. Can anyone give me any indication of what might happen & if there is any likelyhood of dad getting any of this money back, my brother is in total denial and refuses to discuss anything with dad saying he has no money.

[teaboy2]

Re: Advice needed please

Your brother would likely be arrested for Fraud and face criminal proceedings. Your father maybe able to get some of his money back from your brother if he has any left, though the court could seize his assets to recover it.

To be honest, if your brother truly did this, then he deserves to have the book thrown at him. As he clearly gave no thought for your fathers needs and was only thinking of himself.

[Amethyst]

Re: Advice needed please

Hi Marley, welcome to the forum, I'm sorry your post seems to have gotten overlooked. I'll bump it up for you xx

Has your Dad had the meeting with social services and how did it go?

[marleymouse]

Re: Advice needed please

After the soc serv meeting Dad has had a meeting with the police too, they have said they definately have a case but dad is unsure as despite everything he has done obviously he loves my brother and fears being responsible for my brother getting a sentence so he needs to make his own mind up without outside pressure. I feel sure he will as my brother is still denying all and has left dad with no answers whatsoever.

Clearly my brother did not have access to dads share and ISA account and has closed these two fraudulently but I am wondering what he would have had to produce to the bank and shareholders in order to close them, what verification would he have needed? These were £10,000 each with the same company which is part of his current account banking group. The accounts were closed together and monies were tranferred into my dads current account, then on the very next day the two sums were transferred online into my brothers account who also banks with my dads bank.

What would the bank have needed to see/do to confirm in order verify my dads identity to the shareholders before they would proceed to close these accounts?

Really hope someone can please help.

[enaid]

Re: Advice needed please - brother took dads money

I would have thought only a LPA (lasting Power of Attorney) would have given your brother the permission to do what he has with these accounts.

[Inca]

Re: Advice needed please - brother took dads money

Hi
Sad as it sounds,,I would think that unless your Dad instigates legal proceedings against your brother the bank aren't going to be very helpful (I hope I'm wrong though)

[wales01man]

Re: Advice needed please - brother took dads money

if the money was moved online can anyone realistically expect the bank to do anything?
Have to agree with others the father will have to make the accusations to the police no way round that

[marleymouse]

Re: Advice needed please - brother took dads money

There was no POA and we have ample evidence of his fraudulent actions so no question about conviction but I am interested in what the bank accepted to proceed with the transactions. It comes under elderly financial abuse whereby my brother has abused 84 yer old dads trust.

I am not saying my brother didnt or couldnt produce my dads details as he would know dad personal personal details like DOB etc. and could probaly have got hold of papers like passport without dad noticing plus my father would have trusted him with some info just as rightly or wrongly we all trust our nearest and dearest.

I am not saying the bank didnt do any checks but I would like to know what they and the shareholders are required to view without question before releasing such large sums, he must have had to provide something to close the share & ISA accounts. Ive no doubt police probing the bank will reveal more but just wanted to find out if anyone on here knows what is the least they would have asked my brother to produce at the time?

[wales01man]

Re: Advice needed please - brother took dads money

You wont like this but I think you are tying to blame the bank for your alleged dishonest thief of a brother,they must of had enough info when the money was moved to allow it they are hardly likely to tell you only your father or maybe the Police can get that info.Still comes down to dads decision im afraid

[marleymouse]

Re: Advice needed please - brother took dads money

Actually I dont mind hearing that wales01man and I totally agree my brother is absolutley the one to be held responsible and I believe he deserves nothing less than facing the police - which I am sure in due course will happen. I am really not trying to BLAME anyone else, I am sure the bank did do all that was required of them but after hearing tapes etc. (which are blatant and shattering) I do want to know what other underhand levels my brother would have had to stoop to in order to do what he has done.

I have learnt a great deal of basic lessons whilst helping dad with this and it has opened my eyes to a lot of general pitfalls that I was not previously aware of. If nothing else I would like to glean this information for my own financial peace of mind - what constitutes verified identity proof for large account closures?

I dont see how my brother could have gone into dads bank and passed himself off as an 84 year old in person so I just wondered what they would have needed to see regarding sums of £10,000 and over! I am sure other people on here might like to know this too.

[wales01man]

Re: Advice needed please - brother took dads money

When years ago I had to withdraw a couple of grand from my dads account I had to produce a letter from him giving his permission before they gave me the money,I cannot remember if they kept the letter maybe this is how it was done.
Has your father spoke to the bank ?There must be an answer to how he got to transfer the money if it was done over the branch counter.

[CleverClogs]

Re: Advice needed please - brother took dads money

my brother is in total denial and refuses to discuss anything with dad saying he has no money.

But does your brother still have both his kidneys and all his liver?