Before George C. Scott died 11 years ago, he handled the family finances. His widow, actress Trish Van Devere, had no knowledge of investments. The couple had a checking account, where they kept all their cash, with a large banking institution. Scott had been a customer for years.

In 2004, Van Devere was legal guardian to her nephew and in dire need of cash. She sold her home, and she took the proceeds to the bank to deposit into her checking account. It was an emotional time for Van Devere, and she cried throughout the visit.

What happened next is the crux of the lawsuit she has brought against the bank and its investment services affiliate.

The teller, she claims, refused the deposit and directed her to an investment adviser. Van Devere met with the adviser but understood little of what he said. He used technical terms she had never heard.

Van Devere explained that she was a widow, she had a young boy to take care of, and that, in effect, the money she was trying to deposit was all the money she had in the world. She told him, according to court documents, that the funds were from the forced sale of her house.

The adviser told her that they didn't need to get into the details of her situation and assured her they would handle the investment the simplest way. Bank officials then rushed her through the paperwork and had her sign some documents. The $4 million was, from that point, in their control.

The bank employees gave her no time to consult an attorney, and no one ever asked if she understood what she had signed. All the bank was concerned about, she said, was closing the deal.

In the complaint, Van Devere states that the investment affiliate put her money into "risky investments" in "unsuitable securities." Her $4 million was reduced by half between September 2008 and February 2009, just 17 months. She filed the lawsuit, claiming financial elder abuse, fraud, and negligence, in April of this year.

The case is slated for arbitration later this fall. Van Devere is represented by an attorney this time.

Resource: DailyBreeze.com "George C. Scott's Widow Loses Round in Court" 9/10/10