ABC News just aired the elder fraud story in May this year where a banker stole $1.4 million from seven seniors. The 62-year old banker, Linda Foss, was a manager for many years at the U.S. Bank and First Republic Bank is Oakland, California. Ms. Foss has been charged with 20 counts of felony and is in jail with a $1.6 million bond. IMPORTANT NOTE: FDIC Insurance is $250,000. That is what the US Government insures your monies in the bank. It is good to use several banks to better insure your monies. Another reason to use several banks is to know several bank managers. Never trust one bank and one bank manager with all your money because it might just disappear.
Posted on: Sun, 14 Jul 2013 02:13:04 +0000
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