Man outwits bank, gets sued

[Forever_frost]

http://now.msn.com/dmitry-agarkov-outwits-russian-bank-by-writing-own-credit-card-terms?fb_action_ids=10151775954924684&fb_action_types=og.likes&fb_source=other_multiline&action_object_map=%7B%2210151775954924684%22%3A549220245132606%7D&action_type_map=%7B%2210151775954924684%22%3A%22og.likes%22%7D&action_ref_map=%5B%5D

The idea of beating the banks at their own game may seem like a rich joke, but Dmitry Agarkov, a 42-year-old Russian man, may have managed it. Unhappy with the terms of an unsolicited credit card offer he received from online bank Tinkoff Credit Systems, Agarkov scanned the document, wrote in his own terms and sent it through. The bank approved the contract without reading the amended fine print, unwittingly agreeing to a 0 percent interest rate, unlimited credit and no fees, as well as a stipulation that the bank pay steep fines for changing or canceling the contract.

Agarkov used the card for two years, but the bank ultimately canceled it and sued Agarkov for $1,363. The bank said he owed them charges, interest and late-payment fees. A court ruled that, because of the no-fee, no-interest stipulation Agarkov had written in, he owed only his unpaid $575 balance. Now Agarkov is suing the bank for $727,000 for not honoring the contract's terms, and the bank is hollering fraud. "They signed the documents without looking. They said what usually their borrowers say in court: 'We have not read it,'” Agarkov's lawyer said. The shoe's on the other foot now, eh? [Source]

[white88]

Hahaha that is fucking awesome!

[Country cracker]

Good for him!

[Ratt]

Genius.

[Gtracer]

Damn Russians

[Forever_frost]

Oleg Tinkov , the head of Tinkoff Credit Systems bank (he also holds a 61% stake in the company) commented on the story via Twitter:

"With regards tothe man fromvoronezh , our lawyers say that he'll be awarded not 24 million but a whole 4-year sentence for fraud. now it's the matter of principle for @tcsbank ."

He added:
"It's time to stop this 'diamond dream' and daydreams about 24 million. Nobody will win anything from us, that's just a dream to get rich."

"Oh my god, what a country! You treat fraudsters as heroes," he also ranted on Twitter, referring to Russia.

Russian media outlet RIA Voronezh, which was first to break the story yesterday, quoted the bank as stating that the incident happened due to a technical failure and the amount of the lawsuit totaled just 900,000 Russian rubles (about $27,000), not 24 million rubles.

The lawyers on the plaintiff's side noted that the 24-million-ruble figure was the amount of the compensation they had asked for to settle the case before going to court. The amount being disputed was reduced to avoid much higher judiciary fees, which would have been triggered if the figure passed the 1-million-ruble mark. They noted that if they were to win this case, they would follow this suit with a claim for a larger amount and would expect an "automatic" victory.

Agarkov and his lawyers were also disappointed to see that the bank representatives publicly called Agarkov a fraudster and expect both the bank and Tinkov to apologize for the allegations.

"We're surprised that a person was accused in a felony and even provided with his alleged jail term without a decision from a court," said Dmitry Mikhalevich, Agarkov's lawyer.

And if the bank doesn't retract its accusatory statement, it might have another lawsuit on its hands, they warned. "It's courts that still pass judgments in Russia, not bankers," said the lawyer.

Dmitry Agarkov (his surname was previously reported by Russian Media as Alexeev for privacy reasons), from Voronezh, Russian Federation, is hoping to win 24 million Russian rubles (about $727,000) in compensation after he handcrafted a new agreement for a credit card offer sent to him in the mail, much like the offers Americans receive daily from Visa ( V ), Mastercard ( MA ), and American Express ( AXP ). Agarkov's re-written agreement was signed and recognized by the bank.

Read the full story here .


Read more: http://www.nasdaq.com/article/russia...#ixzz2bULK2oSE

[racrguy]

I wonder if that would fly here in the states. That would be awesome!

[Forever_frost]

I wonder if that would fly here in the states. That would be awesome!

I'll let you know. I'm working on a Visa one now

[01vnms4v]

I'll let you know. I'm working on a Visa one now

Pic of the contract you are doing would Be awesome

[Forever_frost]

I have the old one scanned and am trying to find a program to do some adjusting on it. I suck at photoshop and editing software

[Big A]

I'd think that you've got a much better chance at the changes being discovered here, or that fraud charges would stick. You would be up against a much better funded legal team as well.

GL, and se ya in 10-20!

[Sean88gt]

Oleg Tinkov , the head of Tinkoff Credit Systems bank (he also holds a 61% stake in the company) commented on the story via Twitter:

"With regards tothe man fromvoronezh , our lawyers say that he'll be awarded not 24 million but a whole 4-year sentence for fraud. now it's the matter of principle for @tcsbank ."

He added:
"It's time to stop this 'diamond dream' and daydreams about 24 million. Nobody will win anything from us, that's just a dream to get rich."

"Oh my god, what a country! You treat fraudsters as heroes," he also ranted on Twitter, referring to Russia.

Russian media outlet RIA Voronezh, which was first to break the story yesterday, quoted the bank as stating that the incident happened due to a technical failure and the amount of the lawsuit totaled just 900,000 Russian rubles (about $27,000), not 24 million rubles.

The lawyers on the plaintiff's side noted that the 24-million-ruble figure was the amount of the compensation they had asked for to settle the case before going to court. The amount being disputed was reduced to avoid much higher judiciary fees, which would have been triggered if the figure passed the 1-million-ruble mark. They noted that if they were to win this case, they would follow this suit with a claim for a larger amount and would expect an "automatic" victory.

Agarkov and his lawyers were also disappointed to see that the bank representatives publicly called Agarkov a fraudster and expect both the bank and Tinkov to apologize for the allegations.

"We're surprised that a person was accused in a felony and even provided with his alleged jail term without a decision from a court," said Dmitry Mikhalevich, Agarkov's lawyer.

And if the bank doesn't retract its accusatory statement, it might have another lawsuit on its hands, they warned. "It's courts that still pass judgments in Russia, not bankers," said the lawyer.

Dmitry Agarkov (his surname was previously reported by Russian Media as Alexeev for privacy reasons), from Voronezh, Russian Federation, is hoping to win 24 million Russian rubles (about $727,000) in compensation after he handcrafted a new agreement for a credit card offer sent to him in the mail, much like the offers Americans receive daily from Visa ( V ), Mastercard ( MA ), and American Express ( AXP ). Agarkov's re-written agreement was signed and recognized by the bank.

Read the full story here .


Read more: http://www.nasdaq.com/article/russia...#ixzz2bULK2oSE

Sorry Tinkov, technically speaking, your company is guilty of fraud and contract violation. Next time read the fine print you dirty cork soaker.

[racrguy]

I'd think that you've got a much better chance at the changes being discovered here, or that fraud charges would stick. You would be up against a much better funded legal team as well.

GL, and se ya in 10-20!

How is it fraud? The company sent him an offer, to which he didn't like the terms, he changed the terms he didn't like and added ones he did, and the company can agree or disagree. Everything is out in the open.

[Forever_frost]

I'd think that you've got a much better chance at the changes being discovered here, or that fraud charges would stick. You would be up against a much better funded legal team as well.

GL, and se ya in 10-20!

How would it be fraud if you sent them a revised contract and they agreed to it? Do they not have an obligation to read the fine print?

[CWO]

I hope this thread gets updated after everything pans out. I'd love to hear the outcome.