HODGES AND ASSOCIATES – August 27, 2010

HODGES AND ASSOCIATES

A PROFESSIONAL LAW CORPORATION

A. CLIFTON HODGES                                                                                                                                                                               4 EAST HOLLY STREET
JAMES S. KOSTAS                                                                                                                                                                     SUITE 202
DONALD W. RICKETTS*                                                                                                                                                             PASADENA, CA. 91103                                                                                                                                                                           TEL  (626) 564-9797

* OF COUNSEL                                                                                                                                                                             FAX  (626) 564-9111

August 27, 2010

VIA FACSIMILE; PERSONAL DELIVERY; AND U.S.MAIL

(704) 386-4518

Charles O. Holliday, Jr.
Chairman of the Board
Bank of America Corporation
100 North Tryon Street
Charlotte, NC 28255

Re:      World Global Settlements

Dear Mr. Holliday:

I represent Mr. Lindell H. Bonney, Sr. with respect to collection of certain funds previously being held by Bank of America; Mr. Bonney has both a personal ownership interest and a fiduciary interest in such funds.  I also represent certain other payees of the World Global Settlement funds.  I have previously corresponded with Brian T. Moynihan, President and CEO of your bank regarding these funds.  (Copies are attached for your information).

The purpose of this correspondence is to put you and each member of the Board of Directors on notice of the malfeasance of Mr. Moynihan, and perhaps others in your Bank, in connection with the refusal of the Bank to disburse monies due to be paid to Mr. Bonney in his personal and fiduciary capacity.  We were initially advised that the funds could not be disbursed because information regarding specific account numbers was not available; when the particular account numbers and personal identification information was presented at the Bank of America in Richmond, VA, Mr. Bonney was advised that the money was unavailable to be paid out.

We were able to determine that in fact, through the offices and authority of Mr. Moynihan, the totality of these funds were utilized by the Bank on either a five or ten day cycle which allowed the Bank to be paid 3% per day of the principal; we have now received confirmation that the Bank has been paid 3% per day of the total amount of funds being held by the Bank for distribution for Mr. Bonney.  These actions are obviously in violation of a plethora of Federal Laws and banking regulations, and expose the Bank to both criminal and civil RICO actions.

In the event that you and/or any of the Board members wish to discuss possible resolution of this issue please contact the undersigned directly; if I fail to hear from anyone I will pursue all available remedies, including disclosure of these defalcations to the media.

Very truly yours,

HODGES AND ASSOCIATES
A. CLIFTON HODGES
ACH/gm

Cc:      Bank of America; Richmond, VA Branch
Mr. Lindell H. Bonney, Sr.
Lynwood Maddox, Esq.
Mr. Brian T. Moynihan
Ms. Susan S. Bies
Mr. William P. Boardman
Mr. Frank P. Bramble, Sr.
Mr. Virgis W. Colbert
Mr. Charles K. Gifford
Mr. D. Paul Jones, Jr.
Ms. Monica C. Lozano
Mr. Thomas J. May
Mr. Donald E. Powell
Mr. Charles O. Rossotti
Mr. Robert W. Scully
Comptroller of the Currency
Federal Reserve Bank, Richmond, VA

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