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Help with Investment company that may have taken advantage of my parents

Date: 7/9/2018 5:14 AM (PST)

I am the Power of Attorney for my parents. My Mother who had Dementia passed away in December 2017. Prior to her illness my Mother managed the finances for my Father and her. I was given power of attorney in 2015. I looked at their statement and tax return for 2016 and saw that the company they were using made $6000 and they made $600. That was the first red flag. After looking at their 2017 tax return and the 1099 from Trust Company of America, in the cost basis column there was a $81,000 loss that was being written off their taxes. I contacted their tax consultant and he said he thought we were aware of the loss. That was no help. I need answers. I allowed a tax expert to took at their tax return and they said some very unusual transactions were going on. Especially in the last quarter of 2015. Which was when I took over their finances. I have submitted a complaint and and waiting for an answer. I was offered some help from Victor on this site and contacted him. But, I have not heard back. I am asking for help now. I have several documents going all the way back to 2013. Thank you!

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Date: 7/9/2018 8:33 AM (PST)

Good Morning Diana. I did some research and located your complaint against Trust Company of America. The complaint was filed on June 20th. As of today, 07/09, we have not heard back from their company. We contacted them a second time on July 1st, and so far no response. In the event that the company does not respond, I recommend filing a complaint with the Federal Reserve. The Federal Reserve accepts complaints involving banks, financial institutions, lenders, brokers, or any other financial provider: https://www.usa.gov/complaints-lender

The Consumer Financial Protection Bureau is another agency that may be able to offer further assistance: https://www.consumerfinance.gov/complaint/

Diana, as soon as we see that your complaint with Trust Company of America has generated activity, you will be contacted. The above agencies should be able to offer further assistance in the event Trust Company of America does not respond to your complaint with BCA. Please contact me directly at vantillon@checkbca.org if you have any questions.

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