NY Couple Loses $25k Because Their Bank Doesn’t Keep Records

dollar_economic-collapse_sp_ocBy Joshua Krause

Other than politicians and the media, there is no other force in our society that is hated more and trusted less than the big banks. Between the bailouts that followed the crash of 2008, and the wealth confiscations that occurred in Cyprus a few years later, it’s become abundantly clear to everyone that the banks are run by criminals, and you can’t trust them to hold onto your savings.

And if you ever needed another reason to be cautious about putting all of your savings into a bank, you should listen to what happened to Anna and Salvatore Russo. The couple opened a savings account with Chase Bank in 2002, and deposited $30,000, which was reduced to $25,000 after they made a withdrawal shortly thereafter. But with the exception of that withdrawal, they hadn’t touched their bank account for years, in the hopes that they would collect interest on the money.

But when they decided to withdraw that money in 2014, it was gone. Anna Russo told CBS how she reacted when the bank told her that they had no record of her account. “I said, there’s got to be somebody in that bank that knows about my money, but nobody knows.” “They can’t explain it, and they feel that they don’t have any no obligation, even though we have a book,” her husband added, referring to their own documents.

Chase eventually revealed that they have a record of their first deposit but nothing else, which is why the money is gone. “We don’t retain records for more than seven years and the customers have not been able to provide any documentation that proves their claims.” So if you leave your money in a Chase bank for more than seven years, it ceases to exist apparently.

The Russo’s ordeal reveals another troubling aspect of the banking industry that most people aren’t aware of. Money that is left untouched for more than five years can be confiscated by the government. However, the bank is supposed to send you a letter before this happens, which the Russo’s never received. The government has no record of receiving their money either. It literally disappeared.

It’s often been said that when you put your money in the bank, it no longer belongs to you. Now it can be said that when you put your money in the bank, it no longer exists.

Joshua Krause is a reporter, writer and researcher at The Daily Sheeple. He was born and raised in the Bay Area and is a freelance writer and author. You can follow Joshua’s reports at Facebook or on his personal Twitter. Joshua’s website is Strange Danger.

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6 Comments on "NY Couple Loses $25k Because Their Bank Doesn’t Keep Records"

  1. Scott Lindsay | June 25, 2016 at 11:31 pm | Reply

    Oh don’t worry Sorro’s got it and if it ain’t him it could be the Bushes,maybe the Clintons,how about Jamie Diamond.Figured it out yet these few I mentioned have stolen,murdered, swindled or out right lied and they are just a few names when there is thousands out there that have done worse.

  2. cellaphaneman | June 26, 2016 at 7:37 am | Reply

    Banks are not the right place to keep your money – they are all owned by the unholy nwo.

  3. Sounds like an unscrupulous bank employee did the unthinkable. One has to wonder why the Russo family didn’t receive their annual 1099INT tax form from the bank.

  4. L. A. McDonough | June 27, 2016 at 11:11 am | Reply

    Chase is about the worst bank ever. Credit unions way to go, I have DC’s and money mkt savings in both cr. unions for years, adding and taking out as needed. Folk, keep all bank records that are active.

  5. Money or “capital” is the most dominant aspect of civilization. And yet, it is logistically-speaking, the one thing we really don’t need to get anything done. Common agreement and collective cooperation are the keys to the utopian society. Not capitalism, where greed and selfishness are the primary drivers.

    Think about that.

  6. chuck Findlay | June 27, 2016 at 7:45 pm | Reply

    Anyone that keeps more then a very basic level of cash in a bank is risking it being taken. Bank problems of the last few years (Grease Venezuela Cyprus, The USA 1933) have proven that banks are not to be trusted.

    Get your money out of the bank, if you don’t hold it, you don’t own it.

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