Banks Can Legally Steal Customer Funds From Private Checking Accounts
In 2007, the Sentinel Management Group (SMG) collapsed, leaving many
customer segregated funds lost after they had been used as collateral.
After a plethora of lawsuits and creditor claims, a decision
earlier this month in the 7th Circuit Court placed the banking cartels
ahead of customer claims for funds returned. Essentially, the Bank of
New York Mellon (BNYM) sued to be first in line for return on stolen
customer account monies – and won the right by the US court system.
In the mainstream media (MSM), the SMG collapse and subsequent ruling in favor of BNYM was touted as a difficulty “for customers to recoup money lost”.
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