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couch potato (Student)     16 April 2009

Is this fraud?

Respected lawyer friends, I had a joint account with my grandad on 'either or survivor' basis.My granddad expired few years ago. I was operating the account even after his death as it is 'either or survivor' account.Of late , my uncles and aunts came to know the account's existance.Now my family members are threatning me that i have committed fraud and have asked me to pay the money i used . I am ready to pay them the entire amount utilised by me after granddad's death. however, they are demanding 4 times the amount as penalty now, failing which they will register a case of fraud against me and have me thrown in jail.naturally I am not willing to pay them the "penalty' amount. However, I have no issues with paying them the entire principle amount with reasonable interest the amount might have accrued since my grand dad's death.Please tell me-

1- have i committed any fraud?i feel i havent as i have rightfully opertaed the account as per the instructions given by my granddad to the bank at the time of account opening.

2- can they really have me arrested and jailed for this "offence"?

3- I am constantly insulted within my family and refered to as a criminal openly.

4- I dont have parents.Hence, no support and no guidance.

5-what should be my recourse in this matter ?please help as  i am going through hell right now.



Learning

 4 Replies

Swami Sadashiva Brahmendra Sar (Nil)     16 April 2009

you have committed no fraud. however, you should inform the bank about death of joit account holder.

couch potato (Student)     16 April 2009

Respected Dr.Tripathi,I have already informed the bank about the death. Besides, the bank manager had also attended my grandad's funeral,as he and my granddad shared a good rapport.

Further please advise on what should be my course of action.

Swami Sadashiva Brahmendra Sar (Nil)     16 April 2009

only course af action for you is to stand firmly and fearlessly.

Isaac Gabriel (Advocate)     17 April 2009

The very purpose of 'either or survivor'account is to keep the account operative even after the death of one of the account holders.Therefore transactions after the deathof your grandad by yourself is totally right.The other issuues,ie.the right about the money at credit in the account could be settled with the other family members if at all your own money is also saved in the account.Neverthless,punitve action for drawing the money from the account cannot te taken as you have got sole right to operate the account after the demise of your grandad.


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