BMO reimburses $87K to customer

BMO reimburses $87K to customer

BMO reimburses $87K to customer

A Bank of Montreal customer, whose inheritance money was allegedly wired to a scammer by the bank, has been reimbursed for his losses, reported the CBC.

According to the news network, a spokesman confirmed to CBC News on Monday that Bruce Taylor was reimbursed $87,555, plus interest by BMO.

CBC's Go Public broke the story afte
r Taylor – a Canadian engineering consultant who resides in Texas – claimed his savings account, which held his ‘emergency funds,’ was emptied, while he underwent open heart surgery in Houston two years ago.

Taylor’s inheritance was in term deposits until July 2012, at which time the investments matured and were transferred to a savings account, which Taylor says he didn’t use.

According to the RCMP, Taylor's bank statements read two outgoing wire transfers in September 2012; the first approved for $47,500 and the other for $40,000, four days later.

Taylor says he underwent months of negotiating with BMO lawyers and managers before the reimbursement. “I think [BMO was] just trying to wear me out, hoping I would just fade away … or die,” he told the CBC.

Taylor – who has also been battling cancer – is convinced the scam is the work of an inside job, perhaps linked to overseas contractors, who have access to customer information.

The RCMP investigation continues.

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Bank client scammed of $87K inheritance: Police