This happened to my Father. He sold his car to one of these oaks. Also phoned the bank to find out if the car was settled. They told him that the car was settled. This was within the 7 days period of which it normally takes to settle a cheque. After about two days after handing the vehicle over, he was contacted by the bank to inform him that the cheque has bounced. He was never informed that the means of payment was a cheque. Therefore he argued that its not his liability and therefore the bank should take the loss. They fought against it, however with taped recordings of my dad asking them if the car is settled, more than once I might add, they eventually took the loss (R400 000). Upon investigation, they found out that this is actually an ongoing scheme and that the bank had an inside person clearing the cheques for the criminals. Could you see that it was a cheque or who informed you that the money was in your account?
