Any Kind Checks Cashed, Inc v. Talcott
District court of Appeal of Florida 2002
D.J. Rivera, a financial advisor to John G. Talcott Jr, a 93 year old man, sold Talcott an investment for about $75,000. This investment did not produce any returns. On Dec. 7, 1999, Salvatore Guarino, a cohort of Rivera, established privileges to cash checks at Any Kind Checks Cashed, Inc. by filling out a customer card with his social security number and by showing his driver’s license. Guarino listed himself as a broker. That same day, he cashed a $450 check. Three days later, Rivera called Talcott and convinced him to send a check for an additional $10,000 made out to Guarino to cover travel expenses, which in turn, would produce a return on his original $75,000 investment. Talcott knew Guarino was Rivera’s partner. The check was received by Rivera the next day, January 11. Talcott issued a stop payment on the check through his bank when he learned that only $5,700 would be needed to cover the travel costs. Guarino went to Any Kind and presented the $10,000 check to Nancy Michael, a supervisor employed by Any Kind, who had the authority to cash checks over $2,000. Guarino showed Michael his license and Federal Express envelope the check came in. When asked by Michael what the purpose of the check was, Guarino told her he was a broker, and the maker of the check sent it in as an investment. This information was consistent with his information card kept on file. Michael thought the check was good, noting the envelope showed the maker intended to send it to the casher. After deducting a 5% check cashing fee, Michael gave Guarino $9,500. Michael deposited the check into the company’s bank the next day. On January 15, Rivera called Talcott requesting a check for $5,700. The same day, Talcott sent it, assuming that Rivera knew that he had stopped payment on the $10,000 check.Two days later, Guarino went into the same Any Kind store to cash the check. Any Kind would not cash...
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