• Report: #1011703

Complaint Review: Financial Assurrance Corp.

  • Submitted: Sun, February 10, 2013
  • Updated: Sun, February 10, 2013

  • Reported By: Harold — Woodbridge Virginia United States of America
Financial Assurrance Corp.
1875 Eye Street NW Washington, District of Columbia United States of America

Financial Assurrance Corp. Monique R. Chase, Vice President of Business Development for Financial Assurance Corp, defrauded an elderly relative of mine of over 350,000 Washington, District of Columbia

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In 2005 an elderly relative of mine, who is now 89 retained the services of Financial Assurance Corp.

Monique Chase (Vice President of Business Development) was suppose to establish a Trust for my elderly relative.  I to have state unfortunately, this did not transpire.  

My relative gave MS Chase access to her Bank of America, Chase, Wachovia  Industrial Bank savings and checking accounts.   MS Chase was tasked with consolidating all proceeds from these accounts into a trust account.  The proceeds totaled over $125,000.  In addition my relative is a retired US civil servant.  She recieved a monthly retirement income, including social security of $6,500 per month.

Her mortgage loan was paid off in 2001.  MS Chase  took it upon herself to take out a home equity line of credit on my elder relative's house for $250,000 dollars.  My relative was paying MS Chase a monthly retainer of 300 dollars for what she assumed her services to establish her trust.

I had no idea whatsoever what was going on with my relatives finances until she revealed it to me in 2007.

She told to me MS Chase had open 3 separate american express card accounts  and was using them without her authorization.  My relative now suffer's from dementhia.  Ms Chase liquidated my relative's home equity line of credit my her personal use, my relative's house went into forclosure in 2010.  My relative may have given MS Chase "Power of Attorney" to handle her affairs with the understanding that she would do right by her.  

I performed a background check on MS Chase and found a very distrubing history of fraud, judgements and criminal activity.  It's surprising to me that this woman is not in jail!!.  

My relative's home is now in probate, we were able to get to out of forclosure.  She has been assigned a court appointed conservator to handle her estate do to her failing health.  I'm not an immediate relative so there was only so much I could do. 

I found and copies of memos my relative wrote explaning her diappointment with MS Chase for taking advantage of her the way she did.  In retrospect she wrote on one her  bank statements, "Monique has led to my end".  I collected copies of all of my relatives banks statements and financial documents and forwarded them to her conservator (Court Appointed Probate Lawyer) in February 2011.  I strongly suggested to her lawyer she needed to initiate some action against MS Chase and The Financial Assurance Corp, the firm she still works for.  To this date I have heard nothing in regards to any legal action.


Wash, DC

This report was posted on Ripoff Report on 02/10/2013 08:49 AM and is a permanent record located here: http://www.ripoffreport.com/r/Financial-Assurrance-Corp/Washington-District-of-Columbia-20006/Financial-Assurrance-Corp-Monique-R-Chase-Vice-President-of-Business-Development-for-F-1011703. 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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