This case involves US savings bonds worth $500,000 that were cashed at a bank in California without the knowledge or consent of the bond owner. The bank claimed that the owner of the bonds gave verbal permission for a coworker to come in and cash the bonds on her behalf. However, the owner of the bonds claimed she never gave this permission. The bonds were redeemed in the name of the coworker and not the bond owner. Furthermore, information that was allegedly required to be on bonds for redemption was missing. It was alleged that the bank cashed these bonds without proper identification or authority in violation of the US Department of Treasury’s regulations governing the redemption of bonds.