Quote from: Minor Miner on May 31, 2013, 08:35:49 PM

Quote from: ProfMac on May 31, 2013, 06:55:26 PM

Quote from: SpottedMarley on May 31, 2013, 06:37:30 PM

Quote from: Minor Miner on May 31, 2013, 06:31:03 PM

The issuing bank MUST redeem the check. You understand that correct? You have some comprehension of the law correct? Stop trolling. Get me the issuing bank's name and the name on the check and I will confirm it for you but BY LAW the bank must HONOR the check they have written. You cannot write a check that cannot clear, understand? Start using google to educate yourself and stop using cut and paste to post the same spam over and over again.

I'm glad somebody replied to that ... i'm too tired to. It often worries me that many people just naturally think banks can do whatever the hell they want to.. like issue a check and then refuse to cash it. And that's just normal and okay.

My head hurts. Do I read that the people who don't trust Roman with a check want him to stroll down the street with a fist full of cash in his pocket?
I'm more comfortable with the check and a wait.

No. Let's say this is BofA. The check Roman would have received in the mail would have been issued by BofA to Bitfloor or to Roman (that we do not know but it does not matter as long as Roman is the person that is authorize to sign for Bitfloor). It is the LAW they must redeem the check that is written against their bank. LAW. He can demand cash (that is his RIGHT). Let's assume this a $1Million, they would not give him cash, they would give him a bank draft which his lawyer could open escrow with. But this whole conversation is STUPID because you can open escrow with the CHECK that BY LAW the bank MUST cash.
From this escrow fund, the lawyer can start paying the people owed money 10 cents on the dollar (my best guess at what you have a chance of seeing). And yes, this lawyer will get paid well. But this will take FOREVER, because legally all the people who lost money because of Roman's first clusterfuck will also have a claim and it will take months to even confirm an accurate list of who is owed money.
My bet is there is no check. There is already an account opened by a lawyer with the money in it now.
For christ's sake, you all realize that Madoff's accounts were closed and Baker and Hostettler did not have a problem opening accounts to "cash" the check for his remaining balance and deposit all the funds they went and collected from the people that had been previously paid out right? This is getting silly.
The people that should be concerned are the ones that cashed out in the last 90 days of operation. You will be getting called and the money will go back into the "kitty".

*yawn* I hope no one takes this guy and his unsubstantiated FUD seriously.