[Archive]

Posted By: Joann

If the problem is that the checks were written from the wrong account, wouldn't it be a whole lot easier for Mastro to move the money from the right account into the account from which they were written in one transaction instead of rewriting individual checks? Couldn't they have just quietly covered it that way with no one the wiser (and no NYDN article)?

Why go a route that is not only more complicated, but also more public?

Accounts dedicated to certain transaction types so it's easier accounting at tax time? Seems that a one-time event of known magnitude would be easy enough to remember next April. Accounts of a nature that it takes time to move money in and out? Maybe, but is that any less onerous than rewriting checks?

Those are just wild off-the-cuff guesses. Calling all money managers to educate me on this one, because it seems to me that asking consigners not to cash checks already in hand would be at the very bottom of any list of options.

J