TechFlow, July 4 — According to Cointelegraph, cryptocurrency romance scam victim Michael Chider recently filed lawsuits against Citibank, East West Bank, and Cathay Bank, accusing these financial institutions of failing to detect clear red flags when he transferred over $20 million to the fraudster's accounts. Chider reportedly met a woman claiming to be "Caroline Park" on Facebook in early 2023 and was subsequently induced to invest in an NFT project, making 43 large wire transfers to multiple bank accounts. The lawsuits allege the banks "turned a blind eye to their legal duties" by failing to monitor and block suspicious transactions, and seek to hold them liable for "aiding securities fraud" and "aiding elder abuse."
Add to Favorites
Share to Social Media
