Quote:
Originally Posted by Larry Legend
I like to think the way this started was the dad was trying to basically gamble it up with this money and make a profit. I am assuming he didnt take it to pay off a drug habit/ gambling losses/ personal debt. If he was doing one of those things obv he is a bad father and a piece of ****.
What it sounds like is he had the money invested in places that turned out to lose by a very large % and he "got screwed", now feels bad, and wants to repay his son, but realistically may not be able to.
That I would forgive.
Larry,
This is from OP's post 37:
Quote:
As far as the way the money was taken out, it looks like it was done mainly in the form of wire transfers and I think one check was cut. I did find a fax lying around that my dad said that basically said this (paraphrasing)...
"please obtain a distribution in X amount by check sent to me, said distribution is for the benefit of (danke_123) beneficiary of the account, to be used for the benefit and with agreement of the account beneficiary, danke_123"
No joke, I actually have a fax like that sent from my dad to the advisor. (There are multiple faxes like that, one even has my dad's signature).
His father had money from OP's account wired to the father's account. He withdrew the money for his own use and pretended that it was for the benefit of OP (the only legal way for him to do this). Since OP didn't even know about it, the money was clearly not for OP and for Dad's personal use. It wasn't just investment losses within the account. Dad was taking money from the account. That is fraud and illegal. It's theft. Pure and simple.
My understanding is that Dad is offering to repay the money he stole, not repay the investment losses. He shouldn't have to repay OP for investment losses, but he should repay the money he illegally withdrew/stole.
