Day amp arrives Cashier check returned

Nope: My bank once placed stop payments on two cashier's (in error). They were supposed to be placing them on the two checks that I had misplaced (not the two replacements that they had just issued:-{. Cashier's checks are not a sure thing. By the time that I had them wiring the funds to the account that they had shorted @ their expense, I had two armed guards @ my side. LOL.

You did say it was 'a rather large check'.

I am not aware that a 'real' cashier's check can be issued a 'stop payment' unless the originator perhaps claimed it was lost or stolen. The cashier's check was purchased with real money at one time. It's not like he was making monthly installments toward the purchase of the cashier's check.

I thought only the originator of the cashier's check could change his mind (assuming he still has the check in his possession), or report the check lost or stolen in order to obtain a refund.

It may be just a fluke, but I wouldn't chance it. I always hope for the best but plan for the worst. As the motto goes.

So planning for the worst:

For all you know, he may have claimed you stole the check and tried to cash it and now the police are coming after you. I doubt this to be true but people can be really squirrely and clever at the same time and you never see it coming until it's too late.

I would immediately start corresponding with the buyer thru email via audiogon's email system so you and audiogon can begin to establish some hard evidence (email is substantiated in a court of law -just ask Microsoft and Enron). Use email always. (Using audiogon email also makes for a great backup should you lose your hard drive.) Follow up with phone calls if you like but if it must be one or the other choose email.

You could tell him that you are nervous and you are giving him 12 hours to wire the funds to you. (do not give him your banking account info) but to use Western Union, etc..
Ask him for his bank's name, branch, phone number, etc. to see what you can find.

If things start looking fishy or counterfeit, you may want to start contacting his local police department, FBI, Atty General's office of his state, Audiogon.com, etc.. And if you're serious about contacting these departments, let him know what you are doing and what you are going to do. He may cry uncle or at the very least, he'll know he better put his running shoes on now.

If things are looking sour, then inquire with those departments about other departments you should also be contacting.

And if it's counterfeit, forgery, or fraud, the buyer could be in some serious trouble with the law(jail time wise), but you need to move fast because if the buyer turns out to be a bad dude, he's not going to be sitting on his thumbs waiting for you.

Obviously, if the check was only for $100 or so, it's only worth so much of your time to pursue.

It's probably nothing, but start gathering evidence now just in case.

-IMO

p.s. I am aware of an aquaintence here on audiogon who last summer made an exchage with the buyer in person in Southern California. He gave him the speakers and the buyer gave him a cashier's check for around $2300. The seller later went to cash the check and it was counterfeit.

So they are out there.

The buyer has 72 hours from the date of issue to stop-payment on a cashiers check. Sounds like he stopped payment before he received your amplifier.

In other words his lack of knowledge is bogus. Perhaps he intends to make good on the check now that he has the amp. If not, request in writing that he return the amp to you
immediately.

Also contact the District Attorney in his area and explain that this is not only a breach of contract issue but it is also a fraud, both state and federal(i.e., there is an intent to defraud if he keeps the amp and refuses to pay).

Keep the original cashiers check, don't return it to the buyer or hand it over to authorities, they will accept photo copies.

Consider retaining an attorney in the buyers area to file suit against the buyer. Raise hell, you'll get results.

Myraj: It is possible to stop a casheir's check. All one has to do is tell the bank that it was lost.

I bet the guy comes through. I like giving people the benefit of the doubt.

Here in NY it's necessary to bond the stop payment with three times the amount. Banks don't take well to stopping a cashier's check. A statement of fraud or theft or loss is also necesary with all the NY banks I've dealt with.

It's time to start a dispute thread and identify the buyer. You may just be the beginning of another series of theft akin to last summer.

Don't wait to be nice. Protect yourself and the others here on Audiogon.

Bill E.