Word: escrowed
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...they say lawyers can't always be counted on to put their clients' interests ahead of their own. There have been a few notorious cases, such as a class action against the Bank of Boston for alleged improprieties involving escrow fees. The lawyers were awarded $8.5 million in fees, which was taken directly from customers' bank accounts. One class-action member discovered that $91.33 in legal fees had been deducted from his account--although he received only $2.19 in interest from the settlement award. Even in more traditional fee arrangements, the sheer size of some damage awards can mean that...
...touch a cent of the money earned through the oil-for-food deal. While it is true that Iraq is permitted to sell several billion dollars worth of oil per month, these funds are not at the discretion of Saddam Hussein, but rather are kept in a U.N. escrow account in the Bank of Paris in New York...
...Some 150 buyers are claiming they got ripped off by a seller on eBay. Although crooks represent just a tiny fraction of transactions, Internet fraud is rising: complaints increased 38% last year. How do you avoid it? Either pay by credit card or use an escrow service that won't release your money to the seller until you've got your goods. It costs a couple of bucks for each transaction, but it's worth it for costlier items...
...business. People are quitting their day jobs and finding they can support themselves entirely by selling on eBay and other auction sites. Traditional retailers are significantly augmenting their revenue by selling on eBay, and some are shutting down their stores entirely. Businesses that piggyback onto online auctions--insurers, shippers, escrow services--are booming. Offline businesses that compete with eBay--from antiques stores to classified-ad sections--are bracing for trouble...
...Group of Toledo, Ohio, which claimed to pay 14% on a one-year maturity. "We wanted to have a sound investment, retire and have some peace and tranquillity," says Linke. After the first few quarterly payments arrived from the company, the money suddenly stopped coming. Liberte Capital blames its escrow agent for the problem. Now Linke and her fellow investors' money is frozen while a court-appointed receiver tries to resolve the dispute...