Civil Litigation,
Banking
Feb. 22, 2022
Banks face elder abuse trial after scammers depleted client’s accounts
The banks are accused of acting as the “final link” for tech support scammers, knowingly turning a blind eye to red flags indicating a scam was afflicting the plaintiff, allowing the plaintiff’s more than $2 million in life savings to be depleted and profiting off the transactions through wiring fees.
Bank of America and Wells Fargo must face the entirety of a financial elder abuse and Unfair Competition Law complaint against them for letting the plaintiff beset by scammers withdraw $2 million, a San Francisco judge ordered Friday.
The banks are accused of acting as the "final link" for tech support scammers, knowingly turning a blind eye to red flags indicating a scam was afflicting the plaintiff, allowing the plaintiff's more than $2...
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