When I set up an account in order to have a rep payee assigned by SSA, I was to have a lump sum deposit (1 owner) and a checking account with her signed as rep payee. They set it up wrong and she drained all accounts. They also had a red flag that no transaction was to happen without two signatures. Are they liable? I have a brain injury, but I was a securities officer for fifteen years. How can I get this resolved, get my money back and get the account done correctly?
Untitled
If the bank agreed to establish the account with a requirement that both signatures are required, and the bank allowed withdrawals to be made without the second signature, the bank may indeed be liable to you for those withdrawals. It also seems that you may have trusted the wrong individual to be your representative payee, if all those funds have been taken.
Contact an attorney (try the local Legal Aid office) to discuss the problem with the bank and with the individual who you believe took your money. Then contact the SSA and arrange for someone else to take over as representative payee on your behalf.
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If the bank agreed to establish the account with a requirement that both signatures are required, and the bank allowed 