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Finance

People from Across the US Reach Out After Fidelity Retirement Account Theft

2024-12-09

People across the nation are reaching out to Channel 2 Action News after witnessing the distressing story of an 86-year-old woman whose Fidelity retirement accounts were nearly emptied of $50,000. This incident has raised serious questions about the security and accountability within financial institutions.

Uncovering the Truth Behind Retirement Account Disruptions

Account Creation and Unauthorized Links

In September, three new joint accounts were inexplicably created in the name of Nancy Smith. Each of these accounts was linked to individuals she claimed to have never known or met. The sheer number of 11 different transfers made by these bogus people is a clear indication of a serious breach. Nancy was shocked to discover that she had never authorized these transfers or the changes to her accounts.This is not an isolated incident. Robin Gunnink from Wisconsin also reached out to Channel 2 Action News. Her 96-year-old mom faced a similar situation. On October 11, a joint account was opened in her name, and a withdrawal of $20,000 was made. A significant portion of that money was immediately transferred to another Fidelity account and left the platform, leaving her mother without access to her funds.Mark McConnell from Renton, Washington, also had a harrowing experience. In October, he discovered that someone else's name had been added to his Fidelity trading account. This person had unauthorized access to his account for over a month. Although no money was stolen directly, McConnell has filed three complaints with the Federal Trade Commission regarding this incident.

Representative's Response and Customer Concerns

A Fidelity representative told McConnell that it was not fraud in his case but a "representative processing error." Fidelity wrote that the appropriate steps were taken to close the impacted account and transfer the assets to a new account. However, McConnell is worried about the compromise of his personal information. He wonders if anyone who clicked into his account downloaded any sensitive data and now needs to take steps to protect himself.Deborah Neal, another Georgia retiree, had a similar ordeal. In one case, a crook posed as Fidelity on the phone with her, while an accomplice was on the phone with the real Fidelity pretending to be her. Her $32,000 was stolen, but thankfully, it was returned to her account last month.Nancy Smith, who had her $50,000 stolen, is still waiting for a resolution from Fidelity two months after the incident. A manager even told her to "lower her expectations." She expressed her disappointment, saying that her mother would be ashamed of her if she were to react in a certain way.While Fidelity will not discuss individual cases, a spokesperson told Channel 2 Action News that fraud investigations can take several weeks. They emphasized the importance of protecting customer privacy and encouraged everyone to monitor their accounts frequently for any suspicious activity and to contact financial institutions directly if they notice anything out of the ordinary.It is crucial to note that account maintenance errors like these are rare. However, when they do occur, they can have a significant impact on the lives of retirees and their families. Channel 2 Action News is committed to shedding light on these issues and holding financial institutions accountable.

In a significant move on December 9, 2024, the New England Revolution underwent a major roster reshuffle. The club acquired $500,000 in General Allocation Money (GAM) and a 2025 International Roster Slot from the San Jose Earthquakes. In return, they parted ways with defender Dave Romney and midfielders Mark-Anthony Kaye and Ian Harkes. This trade was executed during Major League Soccer's half-day trade window, adding a new dimension to the team's strategic planning.

Revolutionize Your Roster with These Trades

Defender Dave Romney's Departure

After two years with the New England Revolution, Dave Romney is leaving the club. The 31-year-old California native made a significant impact, earning 61 league appearances with 58 starts. His career totals now stand at an impressive 232 MLS games played and 213 starts across 10 seasons. His presence on the field will be missed by the team and its fans.During his time with the Revolution, Romney demonstrated his skills and dedication. His leadership on the defense was crucial in many matches, and his experience added value to the team. His departure marks the end of an era for the club, but it also opens up new opportunities for other players.

Midfielder Mark-Anthony Kaye's Exit

Mark-Anthony Kaye, 30, is also leaving the Revolution. Since arriving in a trade from Toronto FC in July 2023, he made 31 MLS appearances, including 25 starts, and contributed three assists. The veteran midfielder from Toronto has a rich career with 169 appearances over seven seasons with Los Angeles FC, Colorado Rapids, Toronto FC, and now New England.Kaye's midfield skills and ability to control the tempo of the game were evident during his time with the Revolution. His passing accuracy and vision on the field made him a valuable asset. His departure will leave a void in the team's midfield, but it also presents an opportunity for other players to step up and fill the gap.

Midfielder Ian Harkes' Time with the Revolution

Ian Harkes spent two seasons with the New England Revolution after joining from Scottish club Dundee United in July 2023. In 36 MLS games for the Revolution, he registered three goals and four assists. His MLS career now includes five goals and six helpers in 69 league appearances between New England and D.C. United.Harkes' arrival brought a new dimension to the team's attacking play. His creativity and ability to create scoring opportunities were evident in many matches. His departure will be a loss for the Revolution, but it also allows the team to look for new players to add to their attacking arsenal.

The Offseason Roster Build Begins

The Revolution started their offseason roster build with the addition of Malian center back Mamadou Fofana from French side Amiens SC. This move adds depth and strength to the team's defense. The MLS schedule of roster-building events, available in detail here, kicked off with today's half-day trade window, followed by the MLS Expansion Draft (Dec. 11), free agency (Dec. 12), the Re-Entry and Waiver processes, and the MLS SuperDraft (Dec. 20). The team will convene for 2025 preseason training in the second week of January, where they will continue to work on strengthening their roster.These trades and roster-building activities are crucial for the New England Revolution's future success. By acquiring GAM and an International Roster Slot, the team has more flexibility to make additional signings and improve their squad. The departures of Romney, Kaye, and Harkes also create opportunities for new players to join the team and make their mark.As the offseason progresses, fans will be eagerly following the team's every move. The New England Revolution is poised to make some exciting additions to their roster and build on their success in the coming seasons.

During the holiday season, the act of giving takes on a special significance. In Twin Falls, Idaho, money donated during this time plays a crucial role in assisting those less fortunate within the community. One such group are the vulnerable students in the Twin Falls School District.

"Holiday Giving: Empowering Twin Falls Students"

Identifying At-Risk Students

At-Risk Coordinator Jenny Herzog has identified 309 students who meet the federal definition of homeless. These students come from families facing home insecurity or living in motels or campers with friends. In some cases, they are separated from their families and living with others. Last May, the number was 396, but Herzog explains that they are still gathering data and the numbers could rise again by May.

Herzog and her team work hard to identify those at risk and bring them in. They have a list of community resources to refer these students to and also offer family health services within the building.

They also strive to connect families with housing. The district receives federal dollars for this purpose but can only use them for academic matters. Whether it's providing school supplies, backpacks, or helping them join extracurricular programs or take driver's ed, they are there to assist.

Partnering with Avenues for Hope

The district has been partnering with Avenues for Hope for four years to raise money for their Angel Fund. This locally funded program covers items that federal dollars cannot. Hygiene items like lots of laundry soaps are provided, and laundry cards are especially in demand as many of these students, living in motels or trailers and couch surfing, don't have access to laundry facilities, and the cost is significant.

Covering these items frees up a family's budget, allowing them to focus on other expenses. The money raised makes a big difference as more people reach out.

It also helps the students focus on their education and worry less about their appearance. As Eva Craner, Director of Public Relations, points out, mental stress can prevent students from achieving academically. By providing the necessary support, these students can reach their highest potential.

Goal and Campaign

Their goal is to raise $5,000, and the campaign runs from now until Dec. 31. Every dollar counts as it makes a significant impact on the lives of these vulnerable students.