Fake Bank Draft Help!

h755bpx · 15 November 2006 at 12:15PM

Hi All!

I am in a quandry! I was selling a valuable watch, an "Irish" buyer approached me and duly sent me a Bankers Draft for the full value (I haven't shipped the watch). I took the draft to my local money shop who agreed to advance me £1,070 and pay me the additional £2,000 when it cleared, no problem I thought.

It turns out the draft is a fake, the buyer has gone AWOL obviously and now the money shop phoned up my work and when told I was unavailable told my colleague that I had deposited a fake bank draft with him and owe him £1,070 and had 24 hours to pay back or he will phone the police!

Advice needed desperately!

David_B_2 · 15 November 2006 at 12:21PM

Why can't you simply take the money back and explain where the draft came (from if not done in the first place)?

You've got the watch and therefore should be no problem to you.

I find that they told a colleague had you'ed giving them a fake bankers draft a bit much and I'd complain whilst you was there.

Mc4ndy · 15 November 2006 at 12:21PM

Pay it back?

h755bpx · 15 November 2006 at 12:23PM

I would take the money back, but the reason I was selling the watch was to buy a car. I put a grand down as a deposit (non refundable) and spent the £70 on a few beers. I can sell the watch obviously, but that will take time.

h755bpx · 15 November 2006 at 12:24PM

The money shop does know where the draft came from and it was for payment for an item, i even showed them email transcripts from the buyer to prove it.

rjm2k1 · 15 November 2006 at 12:37PM

At the end of the day, you are going to have to pay the money back. The fact that you ran out and immediatly spent the money rings some alarm bells, but we have to assume you did that in good faith. Speak to the money shop, explain that you no longer have the money but want to pay back and ask them what options they can give you, they might allow you to pay back a smaller amount monthly etc. Another option would be to get a loan to pay it back and then pay off the loan when you sell the watch. How were you planning on paying for the rest of the car?

Bad-Boy-Button · 15 November 2006 at 12:42PM

I'd go to the police direct. Explain everything to them and get a crime number. Take it to the money shop and let them know too. Its you that have been scammed and you have rights. As long as you can prove your innocence then their should be no (less) problems. The money centre will have to hang on for the cash. Just hurry up and sell the watch.

chesky369 · 15 November 2006 at 12:43PM

Take £1000 back immediately. Tell the police yourself. Write a post-dated cheque for £70, to take effect when you get paid. Don't ever deal with money shops again.

h755bpx · 15 November 2006 at 12:45PM

First things first, the money shop knew (as I told them when I cashed the draft) that the following day I would spend the advance on a deposit, so I didnt just run off and spend it, they were well aware. I was going to pay off the rest of the car with the remaining £2,000 I was to recieve upon clearance.

johnmoney05 · 15 November 2006 at 5:00PM

I think you need to report to the police.

chesky369 · 15 November 2006 at 5:08PM

Sorry I mis-read your previous post and didn't notice you'd spent all the money. You say you 'told the money shop' you'd be spending it the next day but, quite honestly, it's nothing to do with them. You just owe them money. For goodness sake, get to the police a.s.a.p.