Q: How to recover $200K lost to crypto fraud in CA?
I withdrew $200,000 from Citibank via a cashier's check to invest in cryptocurrency. A representative from a fraudulent platform took the check, and although they initially displayed a gain, it's now clear I was scammed. I visited PNC Bank, as suggested by leads, but they refused to search for the check. I have not reported this to the police or contacted Citibank, as I believed they were uninvolved. What steps should I take to recover my money and gain potential interest from this fraudulent transaction?
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- California
- (916) 704-3009
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- Answered
A:
You need to act quickly. File a police report immediately with detailed information about the transaction, the fraudulent platform, and any representatives you interacted with. Contact Citibank right away - they have procedures for dealing with fraud involving cashier's checks and may be able to stop payment if the check hasn't been cashed yet.
Reach out to the FBI's Internet Crime Complaint Center (IC3) and the Federal Trade Commission to report the crypto fraud. Document everything thoroughly, including all communications, transaction details, and the exact sequence of events. Consider hiring an attorney who focuses on financial fraud cases, as California has consumer protection laws that might help your situation.
Remember that time is critical in these cases. The longer you wait, the harder recovery becomes, so take action today even if it feels overwhelming. Your bank's fraud department might offer guidance specific to your case, and credit monitoring services could help protect you from further harm while you work through this difficult situation.
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