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Business in Turmoil Because of Fraud; What to do?
In 2004, my company was defrauded. Auburn Police Department did a two and a half month investigation. They found my ex-girlfriend was the person who electronically made unauthorized transfers of monies from my company account to a joint account.
We were together eight years, and the extent of fraud was not only to my business account. Its been an ongoing battle. She has destroyed every bank record, all deposit slips, and monthly statements my company has ever received from the bank! I'm guessing she stole in the neighborhood of $180,000. She has ruined my life; I've lost my business, my home, and $120,000 in vehicles. I'm still going through company records, but I'm about through, and my question is: can she still be prosecuted? Is this a federal offense? Would there be a statute of limitations on this? I waited eight years, because the extent of damage to me and my company goes back eight years and I needed to see how long she has been doing this.
I never approved, at any time, for her to transfer money from account to account. I never knew I even had that capability. I need all the banking records showing transfers, deposits, checks written, electronic transfers, and the date my company was set up on that system. Is this going to cost me or do I just report it to you and you go after her?
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 Its unfortunate that you have apparently been victimized by someone you trusted, but you have waited far too long to move on this problem. You have suggested that we would be able to get your account records for you. BankingQuestions.com is here to provide you information, but we can't actually take action on your behalf. The best that we can do in your case is to strongly urge you to contact the police and an attorney at once!
Your bank is required to keep records on account transactions for at least five years. State law may increase that period. However, the bank is not required to provide you with all that research for nothing. It will have a fee, and from the sounds of your questions, it may be substantial.
Your delay in taking action has contributed to your losses. You had a responsibility to maintain control over your banking accounts, and you were remiss in letting someone else get away with stealing from you by failing to take action sooner. You should have acted the moment that you suspected something was wrong.
Your attorney can advise you on your state's statute of limitations on these thefts. Talk to him/her to find out what options remain at this late date.
Published on BankingQuestions.com 10/21/08
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