Q: My friend (also account holder) closed my CD account and withdraw the money. Do I have legal recourse to get it back?
Recently, a close friend and I had a falling out. In retaliation against me, she accessed my Certificate of Deposit account without my authorization, closed it, and transferred the money to one of her accounts. The bank says that she was also a primary account holder and, due to the Terms and Conditions, was allowed to access those funds.
Do I have any legal recourse to get the money back? If so, what type of lawyer would I speak to regarding this matter?
Thank you in advance for your assistance.
A: It’s either a civil suit to recover the money, or a criminal case of theft (depending on the joint account relationship), or both. Lawyer charge by the hour, so if the amount is under $5000 then you’re better off suing on your own. Not sure if the police would file criminal charges based on a typical joint account relationship.
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