ED Magedson – Founder
BANK OF AMERICACharlotte, North Carolina United States of America
January 13, 2010
An Open Letter to Mr. Brian Moynihan
CEO of Bank of America
Dear Mr. Moynihan
I write this letter with a very heart, but it is yet a letter I must write. Be assure that I get no pleasure from this, but rather I hope that unlike your predecessor you will find it in your heart to do the right thing in this very special case.
In January of 2006, a woman by the name of Marianna G. Goncalves sold her home in the City of Brockton, Massachusetts. She was represented by a Real Estate Agent, and the closing was held at the Offices of a licensed Attorney. What she did not know was that these men were not honest, and that this was a scam to defraud her. The closing was held late on a Friday. Marianna was told that because the deed coiuld not be recorded until the following Monday, the Attorney was giving her check, in the amount of $69,000.00 to the Real Estate Agent to hold until he could record the deed. At this p;oint I call to your attention that Marianna Goncalves could not read or write the English language. As a matter of fact there should have been a Court Certified Translator at the closing. There was not. Reluctantly she was coerced into this agreement. Again I call to your attention that the check, made out to Marianna Goncalves was not endorsed. The Real Estate Agent took the check to Bank of America, signed the check himself, deposited the check into his account. Later he want back to Bank of America, withdrew the funds and transferred the money to Webster Bank. From there the money disappears. This was all the money Marianna and her four children had in the world.
With no funds and with a language barrier, there was little Marianna could do. Bank of America did not want to hear about this. As a result, Marianna and her four children became homeless. They were evicted by their new landlord. They ended up living out of her car, which was later repossessed.
In 2008 this matter came to my attention. I immediately contacted the Bank. In addition I contacted Congressman Barney Frank of the House Banking Committee. Upon consensus of opinion a Law Professor took up her cause on a contingency basis since the woman and her children hardly have enough to eat. We assumed that Bank of America would do all it could to help us in settling this matter, and clear it's good name. Well that has not been the case. The firm representing the Bank has been arrogant, and insolant. They have repeatedly tried to dictate terms, and they have done all they can to delay this matter from being put before a judge and jury.
Needless to say all they are doing is to delay. They do not have the power to stop the case. In the process however they will amass a much greater fee for themselves, and do further damage to the name of the Bank. I cannot believe that this would be in concert with your wishes. I this really the image your Bank wants portrayed to the American People. I am not an Attorney, nor do I profess to be one, but even as such, I would not want to walk into a Federal Court and face a Federal Jury and represent Bank of America after pulling such stunts.
I believe that an employee, or employees of the Bank did a favor for a client of the Bank. They cashed a check, that they should not have. The check did not belong to the Real Estate Agent, and it had not been endorsed over to him. HE WAS CASHING SOMEONE ELSES CHECK. A check for a large amount of money. The best thing was that the Bank would admit that it had made a mistake, and do all in it's power to rectify the error. That would have been the honest thing to do. That was not done.
As of this date, your Attorneys are still up to their tricks. They use delaying tactics one after another. As you prepare to hand out bonuses totaling hundreds of millions of dollars, to your staff I call to your attention Marianna G. Goncalves. She has trouble paying her rent. She has had her electriciy turned off more then once for non payment, along with her telephone, and her heat. She lives in Rhode Island and works in Massachusetts. She has no car. Every morning she has to walk 3.7 miles to be picked up and taken to work. She has to do this no matter how bad the weather outside is. SHE HAS TO DO THIS 5 DAYS A WEEK. The woman has suffered enough.
I ask you to call your attorneys and tell them that this matter will be settled this month, and it will be done so without fail. I ask you to tell them not to attempt to further defraud her. After all what is the price of the Bank's good name. Before they settle on an amount, let me ask you this, how much is your bonus? What makes you better then Marianna G. Goncalves? I ask you this last question? How much will a jury of her peers award her in this climate, in this era of Bank hating? Are you sure that an Appeals Court will lower the award, or for that matter even hear the case? How much more dmage is your Bank willing to take?
With all due respect I thank you for your consideration in this matter, and your immediate response.
F. P. G.
This report was posted on Ripoff Report on 01/15/2010 11:03 AM and is a permanent record located here: http://www.ripoffreport.com/r/BANK-OF-AMERICA/Charlotte-North-Carolina-/BANK-OF-AMERICA-Brian-Moynihan-CEO-Shame-Charlotte-North-Carolina-555030. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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