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Home >> Scams/Fraud
Check Cleared, Then Called Fraudulent
An item was sold by my friend. He received a check, drawn on a US Bank, in payment. He deposited it and verified with his bank that it had, indeed, cleared. Now, days later, the bank tells him that the cleared check was fraudulent, and he is overdrawn because he paid bills with money from the cleared check. Besides trying to sue the purchaser, what can he do? He has no way to pay the bank and his creditors with funds currently available.
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 There's not much else that can be done, except to work with the bank to get his debt to the bank repaid. It may take time to repay, but ignoring the obligation would be a mistake that could result in legal action and a negative impact on your friend's credit file. He can also report the fraud to the police, which may or may not prove helpful.
Published on BankingQuestions.com 10/16/08
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