Siphoning of funds and dividends through joint account

Querist : Anonymous (Querist) 17 August 2010 This query is : Resolved
My father was a member of BSE and active in share broking business. He had appointed younger brother as attorney under POA. The brother being of criminal mid set made him open joint accounts in BOI which are still operative since his death in Jan. 1996. These accounts were used for his business and crediting of dividends for the shares held by him. Due to nature of account I could not get them closed and the younger brother has siphoned off huge sums of money from them till now and is not disclosing the details to legal heirs nor comming forward for arbitration.

Pl. advice as to what action/s the legal heirs can do to protect thier interests.

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s.subramanian (Expert) 17 August 2010
Issue legal notice to your brother seeking true and correct accounts. If he fails to provide,lodge a criminal complaint against him for cheating and misappropriation and breach of trust.

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