<VV> Re: scam-no corvair

[Scott Trunkhill]

Alan, Gary had it close but slightly wrong. The checks are actually 
fake Cashiers checks. It may take 4-6 weeks before it is determined 
that they are fake.

See this story for more info.

http://www.cbsnews.com/stories/2003/12/05/eveningnews/consumer/main587162.shtml



>Gary wrote:
>
>>  Basically what happens is your bank cashes the check, you send the money,
>>  the car is signed over and picked up. About a month later you find out the
>>  check bounced and you are liable for the money from the cashed check, and
>>  returned check fees as well. You are also out the car.
>
>I don't understand how that can happen, unless your checking system is
>different from ours. Here, when you present a cheque to the bank, there is a
>delay of 3-4 days until the money clears into your account, but once the
>money is there, it's there! The bank don't give you cash unless the cheque
>has cleared.
>
>If the cheque is going to bounce, it is returned during that 3-4 day period,
>and so you don't give the guy the car. If the cheque clears you are safe and
>the bank can't get the money off you again.
>
>Doesn't it work like that over there? Sounds scary if not...
>
>Cheers
>
>Alan
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-- 
Scott Trunkhill
strunkhill1@comcast.net