Legal Question in Banking Law in Illinois

We are under the STRONG belief that an employee of a major US national bank has embezzled over $200,000 from an individual customer's SAVINGS account. The customer was 85 at the time he made a large deposit into his savings account in November 2006. The customer is still living. Family members recently discovered unauthorized withdrawals from the SAVINGS account. They believe that a bank employee (i.e., teller) noticed that a large amount of money was being deposited by an elderly man and began to withdrawal large amounts during a 2 year period totaling over $200,000. After the bank was contacted regarding the unauthorized withdrawals, the bank denied any responsibility or reimbursement of the unauthorized withdrawal of $200,000 because it's beyond their three month period. After review of the banks deposit records, it has been discovered that the customers name was forged on various deposit slips. The family members have contacted various federal agencies and awaiting substantive responses. In additions, family members have reason to believe that the bank teller who took the money knew that the customer was ill at the time of the deposit and took advantage of the 85 year old ill man.
Would the discovery rule apply to these facts because the customer did not discover the unauthorized withdraws until recently? If not, what avenues may the customer take to get his money returned?

Asked on 3/22/10, 6:37 pm

Jonathan Shimberg Shimberg and Crohn, P.C.

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0 attorneys agreed

SUE THE BANK and THE TELLER. There is an attorney somewhere who would love to represent your family.

Answered on 3/28/10, 6:32 am

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