[El Scorcho]

Man wants his $400K back from the FBI

Greg Sowinski | gsowinski@limanews.com - 12.18.2007

LIMA, Ohio — Two robbers who broke into Luther Ricks Sr.’s house this summer may have not gotten his life savings he had in a safe, but after the FBI confiscated it he may not get it back.

Ricks has tried to get an attorney to fight for the $402,767 but he has no money. Lima Police Department officers originally took the money from his house but the FBI stepped in and took it from the Police Department. Ricks has not been charged with a crime and was cleared in a fatal shooting of one of the robbers but still the FBI has refused to return the money, he said.

“They are saying I have to prove I made it,” he said.

Full Story: http://www.limaohio.com/story.php?IDnum=47047

So, as I understand it, this so-called "law" of forfeiture says you're guilty until proven innocent. It's basically punishment for not participating in the banking system. How is this possible in America? This guy works and lives frugally to save for his entire life and the Feds can just seize his assets?

[LUconn]

aside from how ridiculous this is, he really needs some financial eduacation. Is he not aware of how interest works? Although the limit of FDIC is $100k, so maybe he's just overly cautious.


So I guess the lesson learned is, if you don't use a bank, keep accurate records of your bills' serial numbers.

[ATrain]

Well, the money was stolen from his house...possession is 9/10s of the law as they say, so I think he should get the money back.

However, this is the government here, and they're not known for actually being sensible 100% of the time.

[El Scorcho]

Well, the money was stolen from his house...

If you're implying that the PD that removed his safe are the ones who did the stealing, then I agree with you.

[JDUB]

i don't understand why they took the money in the first place

[Ed Dantes]

i don't understand why they took the money in the first place

One time my father had his car stolen. After a few hours, he got a call from the police, who said that they found his car. He goes down to the station, identifies it, checks out the interior to make sure nothing was stolen, and then sign some papers. Everything checked out, and was in good shape.

However, for whatever reason he wasn't able to get his car out of the lot until the next morning. When he did the next morning, someone had stolen the radio from the car, and done a bunch of other things... Cops wouldn't do anything about it, and said that he was mistaken earlier......

Just because they're cops doesn't mean the don't have a few bad ones in the bunch.

[El Scorcho]

i don't understand why they took the money in the first place

This is because, according to federal law, if you have more than $10k in cash in your possession it can (and will) be confiscated. Happens quite often. Don't ever travel with large amounts of cash if you don't want to be accused of being a drug dealer.

[MacGeek]

but its in a safe... ?

thats his hard earned cash.. so what if he didn't put it in a bank? does he not have a choice?

[El Scorcho]

does he not have a choice?

Apparently not anymore. Welcome to America 2007.

[MacGeek]

well thats good to know.. i am going to go burry my treasure arrgh

[JDUB]

i dont have anything to worry about... unless they break in and steal my student loans