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Chris The Lawyer
Chris The Lawyer, Lawyer
Category: New Zealand Law
Satisfied Customers: 22151
Experience:  37 years qualified as a lawyer; LLB, MMgt and FAMINZ.
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I had a letter from a law firm in Australia, saying they had

Customer Question

I had a letter from a law firm in Australia, saying they had "lost assests". It turned out that I had some Commonwealth Bank shares. They want to charge me 30% of the worth of the shares, including dividends from 2000. Is this a normal level of fee, or are they being excessive?
Submitted: 6 months ago.
Category: New Zealand Law
Expert:  Chris The Lawyer replied 6 months ago.

I am sorry to advise that this is very likely to be a scam. This is a typical example of someone writing to you without any prior connection, and claiming that you own assets, which you have forgotten about. In the real world, as opposed to the Internet scam sites, if you had some shares in Commonwealth Bank, then you could quickly check with the share registry for the bank and ask if you had any shares. If in fact you did have some shares, and there were accrued dividends, you would then be able to access these without paying any money. If you give any money to this alleged law firm, you will never see it again nor will you see any money from the shares. Law firms would not normally handle an issue like this, and I think you'll find that this law firm has either had its name used in the scam, or does not exist. I am sorry to bring disappointing use but these scams are sadly quite common.

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