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Joshua
Joshua, Lawyer
Category: Law
Satisfied Customers: 25470
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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My father some years ago opened two invstments under an alias

Customer Question

My father some years ago opened two invstments under an alias name and has recently wanted to close the investments and redeem his funds. The alias is of the same surname but a different Christian name and always registered at the same address. He also has evidence from a existing bank account (different comapny)that he has deposited and drawn out funds under both names, and showing the same account number.
The investment company have acknoledged his claim and sent him a cheque under the alias name of which he cannot cash so he then went to a "Cash Converter" type business who claimed they could indeed cash the cheque. This also failed and he also received a charge of £250 commission for their troubles and the investment company has now withheld the cheque until he can claim who he is?
Have the investment company got the right to do so and can he get compensation for not being able to get hold of his money? Apparently he has another account also in the same alias and is having the same issue. The value of the investment is £12k approx and much required by my father who suffered a stroke 4 years ago and cannot recall why the investment were made in the alias due to memory loss (so he claims). He also can't find the original application documents, but we have all the letters from the investment company following his recent (over the past 5 months) communications. The ironic thing about the situation is that I have read through the documents and they are addressed and make reference to the alias christian name, but the most recent ones in June now make reference to his real name, but they still won't come up with the money? Any advice please
Submitted: 3 years ago.
Category: Law
Expert:  Joshua replied 3 years ago.

Josh-2010 :

Thanks for your question. Please kindly RATE my answer when you are satisfied

Josh-2010 :

How long ago was the investment made please? Does he have evidence to show that the monies for the investment were drawn from one of his bank accounts?

Josh-2010 :

Do you know why the money was invested under an alias?

JACUSTOMER-mduwirfg- :

Don't know and I have asked him for the papers and he doesnt know where they are?

JACUSTOMER-mduwirfg- :

He has had no money from the investment but he has evidence that a Bank has paid out and deposited money on both names

JACUSTOMER-mduwirfg- :

Don't know why an alias I would imagine he didnt want soembody to know about the investment he's been divorced twice so I am not sure entirely.

JACUSTOMER-mduwirfg- :

I see what you mean about the bank accout now - i'll ask him if he sent the original investment via a cheque from his own bamk account,

Josh-2010 :

My apologies for the delay in reverting to you.

Josh-2010 :

Thank you for the above. Finally is your father able to attend a local solicitor do you believe?

Josh-2010 :

Would you like to continue?