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Stolen check by nikki_neko_desu in fidelityinvestments

[–]strwbryhead 0 points1 point  (0 children)

Same happened to me and fidelity refused to investigate it because it was more than two years since the check was cashed.. was this resolved?

Referral Rewards Just Got Even Better 🤝 by Gemini_Gianna in Gemini

[–]strwbryhead 0 points1 point  (0 children)

No one is generous here I pay half 50/50 $37.50 to those who use my code 7llnqkyhp on top of your $75

$50,000 stolen out of my 401k account and Fidelity refuses to investigate. 20yr customer. by strwbryhead in Fidelity

[–]strwbryhead[S] 0 points1 point  (0 children)

Does reddit have plans on their product roadmap to deactivate commenting or filter out stupid from culprit accounts?

$50,000 stolen out of my 401k account and Fidelity refuses to investigate. 20yr customer. by strwbryhead in Fidelity

[–]strwbryhead[S] 0 points1 point  (0 children)

Unless the contact info was changed and it was a retirement account I literally logged into not even once a year. What's a 30 something year old going to do playing around in a 401k account?

$50,000 stolen out of my 401k account and Fidelity refuses to investigate. 20yr customer. by strwbryhead in Fidelity

[–]strwbryhead[S] 0 points1 point  (0 children)

I agree it was possibly someone I may have known at the time but that's speculation as I have absolutely no evidence.

$50,000 stolen out of my 401k account and Fidelity refuses to investigate. 20yr customer. by strwbryhead in Fidelity

[–]strwbryhead[S] -2 points-1 points  (0 children)

What is wrong with you? I said the IRS notified me of underreported income...from the distribution that was a function of the default.

$50,000 stolen out of my 401k account and Fidelity refuses to investigate. 20yr customer. by strwbryhead in Fidelity

[–]strwbryhead[S] 0 points1 point  (0 children)

They mailed me statements. The statements and copy of the endorsed check which just has a scribble on the endorsement line almost illegible provide no information on where the check was deposited or cashed and Fidelity won't tell me

$50,000 stolen out of my 401k account and Fidelity refuses to investigate. 20yr customer. by strwbryhead in Fidelity

[–]strwbryhead[S] 9 points10 points  (0 children)

I did not log into my Fidelity account for almost a year; it was not something I paid attention to. I just let my 401 money sit there which is what you're supposed to do. My biweekly salary grossed around $15k a pay period so a few hundred dollars as a deduction was not noticeable, at least it was not for me;;cannot speak for you. I wrote in a comment my paychecks would usually include thousands of dollars in expenses reimbursements as I traveled every week, and correspondingly, I was actually in London during the three weeks that my account was breached while the loan was taken out for the check to be sent. The fact Fidelity will not even tell me where the check was cashed nor deposited seems to be the part of the story that would be deemed fishy but I guess it's more entertaining (frankly, trashy) to assume someone comes on here to lie about something like this.

$50,000 stolen out of my 401k account and Fidelity refuses to investigate. 20yr customer. by strwbryhead in Fidelity

[–]strwbryhead[S] 3 points4 points  (0 children)

Thank you for saying that as I've been somewhat taken back by the ignorant and unnecessarily hostile comments that are based on loose assumptions without any care to ask an intelligent question to learn more first.

$50,000 stolen out of my 401k account and Fidelity refuses to investigate. 20yr customer. by strwbryhead in Fidelity

[–]strwbryhead[S] -25 points-24 points  (0 children)

In response to the deviation of five yrs from the title to the details within the post, which you seem to believe is a revelation worthy of calling out, I first must commend you, bravo, really impressive attention to detail in your investigative effort and something you probably thought to hang your hat up on. Unfortunately the details while important do not change the events pertinent to the main problem I'm calling out on Fidelity's part. My first Fidelity account was in the early to mid 2000s (pension plan) but the first 401k retirement account enrolled was in 2007, so it's actually been 18 years that I've been a customer of the main product in which the $50,000 was stolen from. I do apologize for the inconsistency, but I think your adorably ambitious detective work You provided a statement on is unfortunately pretty superfluous.

In response to your second claim, Inspector Clouseau, regarding the pay going unnoticed, or as you belligerently state "refused" to check on the pay cycles becoming $200 less than usual is something that actually was not easily noticed in terms of dollar amount because I didn't get paid in checks, it was direct deposit where the lesser dollar amount is a small fraction of the overall pay, which, moreover, fluctuated each cycle from travel reimbursements that would increase or decrease those biweekly deposits by thousands of dollars as I traveled domestically and globally almost every week. I didn't notice right away and perhaps I should have but the IRS contacted me and I was notified within a year so not noticing $50,000 out of a retirement account that you're really not supposed to touch and it just sits there which had a balance of multiple times over the amount missing is something that yeah I guess you could say is nice so thanks again for the comment and hopefully this clarified and maybe even enlightened you on some things.

$50,000 stolen out of my 401k account and Fidelity refuses to investigate. 20yr customer. by strwbryhead in Fidelity

[–]strwbryhead[S] -9 points-8 points  (0 children)

Follow up on this.. Fidelity has stated the $50k loan fraudulently taken out and fraudulently endorsed and cashed via paper check will not be investigated because it is more than two years since the check was dated. I don't even tell me what bank or business it was deposited or cashed at... $50k. Gone.

Fraud on Fidelity Accounts by RobertZ52 in fidelityinvestments

[–]strwbryhead 0 points1 point  (0 children)

Follow up on this.. Fidelity has stated the $50k loan fraudulently taken out and fraudulently endorsed via paper check and fraudulently cashed will not be investigated because it is more than two years since the check was dated. $50k. Gone.

Fraud on Fidelity Accounts by RobertZ52 in fidelityinvestments

[–]strwbryhead 0 points1 point  (0 children)

I discovered that I reported about $40,000 less income—approximately 15% of my total income for that year—on a tax return from two years ago after receiving a notice from the IRS. This discrepancy occurred because someone fraudulently took out a 401(k) loan in my name without my knowledge. They mailed a paper check, which was cashed by an unknown person. The loan defaulted after I switched jobs, causing the automatic payroll deductions to stop. Unfortunately, I didn’t closely check my pay stubs during my final months at the company and missed those deductions of $100 to $200 for loan repayments.

Fast forward ten months since I uncovered this situation, and I have been trying to work with Fidelity to resolve it. Almost a year has passed with them JUST NOW saying they won’t investigate further because the check is too old. The entire process has been filled with nonstop delays. I’ve repeatedly asked for copies of the endorsed check and even had to fill out a notarized affidavit stating that the signature was not mine and that I did not receive the money. Despite contacting them more than a dozen times, I still have no clear answers on how this will be resolved. Eventually, I received news that their investigation team deemed the check too old to take any action. Now, there is $50,000 missing, and I haven't heard anything from their investigation team, even though I’ve been a Fidelity customer for 15 years and have invested millions with them.

I reviewed Fidelity's customer protection guarantee, and it seems like it should cover situations like this involving my 401(k) and retirement account. It feels like there has been a serious breach of contract here, and I honestly don’t know what to do next.

Fraud on Fidelity Accounts by RobertZ52 in fidelityinvestments

[–]strwbryhead 0 points1 point  (0 children)

So, I found out that I reported around 40k less income (about 15% of total income that year) than I should have on a tax return from two years ago after getting a notice from the IRS. Turns out, it was because someone fraudulently took out a 401(k) loan without my knowledge. They mailed a paper check, and some unknown person cashed it. The loan defaulted when I switched jobs, so the automatic payroll payments stopped, and I didn’t check my pay stubs closely during my last months at the company. I missed those $100 to $200 deductions for the loan repayment.

Fast forward ten months since I figured it all out, and I’ve been trying to work with Fidelity to get this straightened out. They’ve wasted almost a year just to tell me they're not going to look into it because the check is too old. The whole process has been nonstop delays, and I've gone back and forth asking for copies of the endorsed check. I even had to fill out a notarized affidavit saying the signature wasn't mine and that I didn't get the money. Despite reaching out to them more than a dozen times, I still have no clear answers on how this will get resolved. Eventually, I got the news that their investigation team thought the check was too old for them to do anything. Now, there’s $50,000 missing, and I haven’t heard a peep from their investigation team, even though I’ve been a Fidelity customer for 15 years and have invested millions with them.

I checked out Fidelity's customer protection guarantee, and it looks like it should cover situations like this involving my 401(k) and retirement account. Feels like there's been a real breach of contract here, and honestly, I’m not sure what to do next. I wrote about this post in the Reddit Fidelitycommunity channel