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Stories that Lift Your Spirits


Rehab1

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This video really lifted my spirits today! We need more of these compassionate stories. 

Please share your heartfelt stories or videos. :)

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  • 2 months later...

Here is my personal David and Goliath story that lifted my spirits yesterday.  I filed a law suit against the huge corporate PNC  Bank over a year ago. PNC Bank allowed my past secretary to deposit over $68,000 in insurance checks payable to my company into her personal PNC bank account using their ATM machine. PNC accepted these forged checks for almost 18 months until my secretary got caught. This lawsuit was very expensive but my attorney's agreed to accept the case because they felt  PNC Bank was guilty of accepting unauthorized forged insurance checks that would be considered impermissible at other banking institutions.

A court trial between my company and PNC Bank was scheduled for mid April but in a pre-trial hearing earlier this week before the judge handling the case sided with my attorneys and wanted the case settled fairly before the trial date.  I'm told only 5% of legal cases actually make it to trial.  PNC Bank  agreed yesterday to settle the case.

 

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2 hours ago, FreeRide said:

2/3? That should be at minimum 3/2. 

We could have went to trial but at some point you have to cut your losses.  I still have to pay my 2 attorney's 40% of the settlement. :crying:  Sadly I get a whopping $25/month in restitution from my past secretary. I'll be dead before the remainder is paid.

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4 hours ago, Rehab1 said:

That is a great story! :)

It seems the whole group have been inspired by the story and now that are all offering the toy electric cars they get for referrals to kids wards in their local hospitals.

It'l soon be the standard way for a kid to get to the operating theatre at this rate! :)

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2 hours ago, Rehab1 said:

We could have went to trial but at some point you have to cut your losses.  I still have to pay my 2 attorney's 40% of the settlement. :crying:  Sadly I get a whopping $25/month in restitution from my past secretary. I'll be dead before the remainder is paid.

Glad to hear that you will be compensated somewhat.  Too bad the lawyers weren't able to get legal fees and punitive damages tacked onto the settlement.  If they were cashing cheques without verifying the names on them, you know there likely are others experiencing the same thing.  It makes you wonder if PNC are changing their internal cheque verification policies or not.

I wonder if pressing harder to go to court would have made them settle for a higher amount.  Ever watch Suits?  Yeah, I know you don't want TV that much :cry2:.  Sometimes settling is likely better than losing entirely.

 

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4 hours ago, Hunka Hunka Burning Love said:

If they were cashing cheques without verifying the names on them, you know there likely are others experiencing the same thing.  It makes you wonder if PNC are changing their internal cheque verification policies or not.

I believe PNC will continue with their same ATM paradigm. It is cheaper than hiring more staff nationwide and their honest customers have access to deposited funds almost immediately. 

The attorneys pressed PNC execs for 6 months to release details on the methods they use for check verification. We found out that it basically came down to the ‘Honor System’. Can you believe it? Not one person at PNC evaluates the authenticity of the ATM nightly deposits. The checks simply get scanned at the local branch, batched and the funds are then directly deposited into the customer’s account the very next day. 

Once the smoke clears next week I plan on registering a web site and posting the details of PNC’s  operation so other honest people can easily navigate through the legal maze my attorney’s uncovered if they are caught up in a similar situation.  

4 hours ago, Hunka Hunka Burning Love said:

I wonder if pressing harder to go to court would have made them settle for a higher amount.  Ever watch Suits?  Yeah, I know you don't want TV that much :cry2:.  Sometimes settling is likely better than losing entirely.

The case was set for trial in a few weeks. My secretary (sister in law) was scared. When she appeared at the deposition last year she was a bucket of nerves. PNC’s attorney keep prying her for answers as to why she did not witness what was going on for 16 months. So when PNC decided to settle out of court we all felt it was in our best interest. Also my sister in law would have had a coronary on the stand.

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Yeah that's what I figured.  They tried to partially lay the blame on the customer's business practices so they don't take all the responsibility and guilt.  Embezzlement is more of a widespread problem than most people realize.  Too much responsibility on one person without the proper checks and balances can be too tempting for some not to take advantage of the system unfortunately.

Maybe a book-keeper visit on a monthly basis to check the books and balances can help with over-seeing operations.  Usually the accountants are supposed to check the corporation accounts to make sure all deposits and withdrawals add up and generally coincide with the ledger entries.

Too bad the lawyers didn't help prepare your sister-in-law better for the deposition.  I thought they are supposed to practice all the possible questions that will be brought and help compose appropriate responses.

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2 hours ago, Hunka Hunka Burning Love said:

Yeah that's what I figured.  They tried to partially lay the blame on the customer's business practices so they don't take all the responsibility and guilt.  Embezzlement is more of a widespread problem than most people realize.  Too much responsibility on one person without the proper checks and balances can be too tempting for some not to take advantage of the system unfortunately.

My company’s office paradigm has changed when it comes to accounts payable and receivable. Also the new computer system runs an end of day report. Further 99% of the insurance companies now direct deposit the funds into my company’s bank account. 

2 hours ago, Hunka Hunka Burning Love said:

Maybe a book-keeper visit on a monthly basis to check the books and balances can help with over-seeing operations.  Usually the accountants are supposed to check the corporation accounts to make sure all deposits and withdrawals add up and generally coincide with the ledger entries.

We have a CPA but unfortunately he did not catch it and I trusted this individual. 

2 hours ago, Hunka Hunka Burning Love said:

Too bad the lawyers didn't help prepare your sister-in-law better for the deposition.  I thought they are supposed to practice all the possible questions that will be brought and help compose appropriate responses.

They did. We both sat down and watched a movie that depicted some of the boiler plate questions that might be asked. We both learned the Dos and Don’ts on the proper way to answer a question and to take our time before responding. She is just an anxious individual and was worried we would loose the case if she screwed up. She is much happier now.

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