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WaMu Gave Grandma's Money to Crooks

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New York Times Reporting on ICT

The article appeared on May 21, 2007.

click here for more info

Monday, April 23, 2007
Calling All (Former) Employees of ICT, Netchex, Payment Processing Center, Client Care Relations, Etc.
Charles Duhigg of the New York Times would like to speak to you.

Specifically, he would like to speak to Fred of Integrated Check Technologies, who left a comment here, or anyone involved with ICT (or with companies named Netchex or Payment Processing Center), or who has worked with Thomas Cimicato.

You may reach Charles through the New York Times website or at the number he left here. If you need his email address, email me and I'll be happy to provide it.

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Wednesday, April 18, 2007
Haven't touched this blog in a while, but got an interesting comment today (if legit, which I think it is.) The comment by Fred is also worth a look. I concede Fred's point that Wamu was just following the rules. But my larger point is : if these are the rules, then they should be changed. Especially in this age of easy identity theft.

As far as my grandma's case:

The bad news is : she never recovered her money and as far as I know. No one was ever brought to justice. Wamu never got back to me. And the banking industry has not changed their practices, meaning some unknown number of people are still getting ripped off by these creeps.

The good news : Grandma hasn't been ripped off since this happened. And I've moved most my money out of my Wamu account into a credit union. (And the New York Times may now be looking into this.)