Washington Mutual Complaint

Theft and the single man at Washington Mutual - Certificate of Deposit

- Palmdale, california

So you think you money is safe in the bank. better think again it may be much safer in your sock drawer. I May of this year I opened a CD at Washington Mutual with $75,000 from the sale of my last home. The CD was in my name alone since I was single when I purchased the house and had just gotten married when I sold it. In California we call this separate property.

It never occurred to me that the funds might not be safe or that someone could remove them without my permission but that is exactly what happened. Beginning in August my then wife systematically transferred the funds out of the CD and quite without my knowledge. She did this over the phone by simply calling Washington Mutual and making the transfers. I had a joint family account with her in order to pay our mutual bills that she managed and it was to this account she initially transferred the funds before removing or spending them.

During this period I never received any communication with Washington Mutual regarding this CD. I went long my happy way secure in the fact that my money was safe in such a wonderful institution. When I discovered the loss I immediately went to the local branch and spoke with the manager. She determined that my wife had committed Bank fraud and had even deposited a bad check for 75,000 dollars to try and hide it from me. he indicated to me that if I filed for bank fraud they would prosecute my wife. I chose to do exactly that and to my surprise the banks fraud department determined that because the funds were transfer to a joint account I had received benefit from the transactions and the problem was between my wife and me. Ridiculous as this seems the bank denied my appeal on the same basis.

I have since filed a complaint with the Department of thrift supervision but for 6 months I can get no response out of the OTC. Now I come to learn that the CEO of Washington Mutual is on OTCs' board “Wow talk about the fox guarding the chicken coop”.

I am moving my money back to the sock drawer

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