The evidence reflects that appellee-plaintiff Frances B. Reynolds “Ms. Reynolds” purchased a certificate of deposit “CD” in the amount of $64,000.00 from a branch of the Wachovia Bank of Georgia, N.A. “Wachovia” or “the bank” for her younger brother, appellee-plaintiff Bernard S. Bailey, Jr. “Mr. Bailey” or “brother”, age 73, as Mr. Bailey’s attorney-in-fact. In making the purchase, Ms. Reynolds did not provide Wachovia Mr. Bailey’s address and told the bank: “Everything pertaining to him comes to my address.” Wachovia’s service representative asked Ms. Reynolds if she had a power of attorney but did not request a copy of it. Wachovia, in turn, issued Ms. Reynolds an initial deposit receipt listing “Bernard S. Bailey, Jr. by Frances B. Reynolds, POA” as the bank’s customers. Thereafter, Wachovia opened Mr. Bailey’s CD account in his name alone and sent everything pertaining to the account to Mr. Bailey directly based on his existing customer profile as one of the bank’s credit card customers.
On the date his CD matured, Mr. Bailey presented his renewal notice to bank personnel at Wachovia and asked to withdraw his entire account in cash, explaining only that “he had a special reason” for the large withdrawal. After confirming his identity by photocopy of his driver’s license and that he was the owner of the funds, Wachovia honored his demand, giving him $66,722.00 in a white canvass bag and fourteen cents to put in his pocket. Several days later, Ms. Reynolds went to Wachovia to renew a CD which belonged to her. There she learned that Mr. Bailey had withdrawn his money. Later, when she confronted her brother about such withdrawal at his apartment, Mr. Bailey told her that he had asked a maintenance man to hide his money in the attic of his apartment, paying the man $20.00 to do so. Ms. Reynolds’ grandson, her son-in-law, and a detective subsequently searched the attic, but found nothing.
